Ethereum extends losses to 1-week low, heads to fall below $200

Ethereum fell on Wednesday to deepen its losses for the fourth consecutive day, the lowest level in a week, headed to abandon the $200 barrier again, in light of the downtrend that dominates the crypto market during the current period.

As of 12:25 GMT, Ethereum is trading around $206.55, down by $5.44, or 2.6%, from the opening price of $211.99, with the highest at $211.99 and the lowest at $200.59 a week.

The world's second-largest cryptocurrency, Ethereum, fell by 2.4% on Tuesday, its third consecutive daily loss.

The total market value of cryptocurrencies on Wednesday fell by $13 billion to $264 billion, the lowest level in a week, with most of the major currency prices continuing to fall in the market.

Ethereum is on track to give up the $200 barrier once again, amid the downtrend that dominates the digital market over the current period, on the renewed fears of a possible global cryptocurrency exchange ban.

These fears were renewed after US President Donald Trump's latest attack on the crypto industry and India's bid to ban cryptocurrency exchange, in line with widespread criticism from regulators and politicians around the world about the Libra currency.