Ethereum price prediction: ETH falls below $2,000

Ether fell below $2,000 on Thursday, November 12, for the first time since August. The trigger did not come from the crypto world: Nvidia announced in the morning (US time) the immediate resignation of founder and chief executive Jensen Huang, the stock dropped as much as 10 percent in pre-market trading, and the sell-off spilled over to bitcoin and ether. On Thursday evening, one ETH cost around $2,019 or €1,827 according to CoinGecko, 3.2 percent less than 24 hours earlier. The daily low was $1,983.

What is established: the slide coincides with the Nvidia shock, the fifth straight day of outflows from US ether ETFs and rate expectations that are turning against risk assets. Our assessment follows further down: the $2,000 level is damaged but not yet lost, and it will be decided by fund flows rather than by the headline of the day. Where the price could head over a horizon of months is covered in our Ethereum price prediction.

Nvidia without Huang: what happened on November 12

Nvidia said that Jensen Huang is stepping down as chief executive, president and board member after 33 years at the top, with immediate effect. Chief financial officer Colette Kress will run the company on an interim basis until a permanent successor is found. Harvey Jones, a long-standing board member, takes over as chair. The company gave no reason for the resignation, Cryptoslate reports.