Ethereum had a rough September. Here’s why and how it’s being fixed – CNBC

Ethereum had a rough September. Here’s why and how it’s being fixed – CNBC

September was a rough month for crypto investors, in particular for those betting big on ether, the token tied to the ethereum blockchain.

Ether dropped 13% for the month, its second-biggest monthly decline in the past year, behind only a 16% slide in June. Bitcoin fell 7% in September.

It’s difficult to link short-term price movements to any specific event, and with the historic rally in crypto over the past 12 months, pullbacks are to be expected. Ethereum, the second most-valuable cryptocurrency behind bitcoin, is still up about 830% in the past year.

Investors are now buying the September dip. On Friday, the first day of October, ether and bitcoin both climbed over 9%.

Ether 12-month price chart

CNBC