Investor: This Pyramid Scheme Is Keeping the Ethereum Price Afloat At $350

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Ethereum has seen quite the volatility over recent months. After surging hundreds of percent from the March lows until the recent highs, the asset has undergone a strong 35% retracement. ETH remains much higher than it was just a few months ago, which is a bullish sign. Ethereum’s relatively high prices might not last for long, though. Prominent cryptocurrency investor and commentator Dovey Wan believes that ETH’s price action is being sustained by a pyramid scheme. If that pyramid scheme collapses, she suggested, ETH’s price could slump. This is similar to what happened with Ethereum’s price and PlusToken. Ethereum’s Price Action Is Being Dictated by a Pyramid Scheme: Investor According to Dovey Wan, a founding partner at Primitive Capital, Ethereum’s price action is likely being dictated by a Ponzi scheme/pyramid scheme called “Forsage”: “just for whoever lives in CT bubble: the ETH price floor is not from a few foodcoin…

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