In the last six months, Electroneum (ETN) has got a lot of online media attention. It has been the apple of the eye of many investors and traders. That is because it ran up significantly in the past six months. However, when you look at its levels today, it has retraced all of those gains.
Electroneum (ETN) price retraces past 6-month gains
Within a few weeks, it went from $ 0.0055 to a high of around 0.02 for $ 5. The market cap went from $ 43 million to about $ 190 million. The price movement was pretty hectic. All of that happened within three weeks. That is why investors who thought the rally might continue as well. As it is one of the very few KYC compliant cryptocurrencies, many investors believed that this is the start of a bigger up move. However, the investors who have invested in those levels are still stuck.
While Electroneum (ETN) can come back but it seems like the investors who have invested at the peak will have to wait for a long time just to get their money back. It will be difficult to make any returns for the investors who have invested in Electroneum (ETN) at the peak. Investors and traders need to stay away from such cryptocurrencies which double or triple in a matter of weeks. The ones chasing such momentum are always bound to be too late for the party and lose a significant chunk of their capital.