In the carnage which happened in the last 7 days, Electroneum (ETN) fell by almost 29%. The market cap went from $ 121 million to a low of $ 70 million. Ever since then it has bounced back. However, it has not made a full recovery. That is why; investors who have invested at the higher levels have not recouped their money.
Electroneum (ETN) bounces back after falling 42% in 7 days:
At the peak, it was trading around $ 0.0145. However, it is far off from these levels still. There is no idea as to how much time it will actually take for Electroneum (ETN) to reach those levels. This is one of the main reasons why in spite of the bounce back of 18% today, not many people are positive that it can rise even higher. This might very well be a dead cat bounce as well. Only when the general cryptocurrency market rises even further from these levels, Electroneum (ETN) might be able to recover further. This is one of the main reasons why the next few days will be very crucial for Electroneum (ETN).
When you look at it on a month of month basis, it was trading around $ 0.0196 a month ago. Thus, from the peak, it is almost a lost 45% of the value. Owing to this very reason, it is a pretty long way to go when you look at the longer term picture. Only when the cryptocurrency markets are supportive for a longer period of time, it will be able to recover this value.