On Friday, ETH sank below $1,000 for the first time in a week amid the intensifying global cryptocurrency sell-off that transpired over the past couple of days. Its price even dropped to as low as $758 at one point, but it managed to bounce back to around $898, as of 2:30PM PST.

Now the question is whETHer this occurrence is a just temporary phenomenon or a sustained nosedive that’ll continue to wipe billions of dollars off the cryptocurrency market.