Ether Rebounds As Price Rises Back Above $300

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The price of ether, the digital token that powers the ethereum blockchain, rebounded above $300 today.

The cryptocurrency rose to as much as $329.43 during the session, up roughly 12.4% from the day's opening, an increase of more than 20% in the last 24 hours, according to Coinmarketcap.

After experiencing a sharp rally that pushed it to nearly $415 around mid-June, the price of ether suffered a correction of sorts, causing the alternative asset protocol to fall below $300 on 26th June.
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As for what caused ether to experience its recent upswing, analysts provided mixed responses. Some market observers, for example, Redwood City Ventures investor Sean Walsh, stated that ether's rise was merely a natural response to the recent correction in cryptocurrencies.
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"The recent ether sell-off was a little drastic, so there's undoubtedly a reversion-to-mean scenario playing out here," he said.

Tim Enneking, managing director of Crypto Asset Fund, offered similar input, stating that ether prices rose in response to the short-lived pullback that cryptographic tokens underwent during recent sessions.
http://www.coindesk.com/ethereum-ether-rebounds-above-300/