ETH Back in 2021 Form ;) | Bitcointalksearch.org

tygeade

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Quote from: tokeweed on April 27, 2023, 10:48:14 AM

Quote from: adaseb on April 24, 2023, 11:11:50 AM

Basically the reason why it went below the $2000 mark is due to all the unstaking that is taking place and causing the selling. Crypto is transparent and its very easy to see how much ETH is unstaked everyday. If you are a holder you can see this and know before hand that most of these unstaked ETH will be sent to an exchange and sold. Hence you are hesitant to buy more and will wait until the unstaking slows down.

The amount being deposited doesn't mean anything because those deposited ETH wasn't going to be sold anyways but the unstaked ETH has a higher chance of being sold. This is what might happen if USG sends more BTC to Coinbase to sell or when MtGox releases all those BTC after a decade.

Did it really? I don't think so... The Shapella update happened around April 12 and the massive sell down happened a week later around April 19 and was really a sell down that happened with Bitcoin and it took ETH and the whole crypto market down with it.

And the funny thing is the sell down happened out of nowhere... But it's done now and the market is trying to claw back the lost gains. So far so good even with the recent shenanigans.

I think it wasn't really an "out of nowhere" thing, it was caused by panic selling that triggered the liquidation that caused this. When there are profit taking, drawbacks and liquidation at the same time, this is the result and it happens quite commonly as well. I feel like the most important thing in the crypto world is that you should be getting away with these little drops if you can hold very well, I did, and many other people did.

Because we knew that the drops would happen, and it will recover back to higher levels if we could just wait a bit. I have seen price go down for just a week for a million times, I know when it is a crash, and I know the difference when it is just a drawback, one happens quickly and a lot, the other just a small amount and stays there for a while without going down any further.

tokeweed

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Quote from: adaseb on April 24, 2023, 11:11:50 AM

Basically the reason why it went below the $2000 mark is due to all the unstaking that is taking place and causing the selling. Crypto is transparent and its very easy to see how much ETH is unstaked everyday. If you are a holder you can see this and know before hand that most of these unstaked ETH will be sent to an exchange and sold. Hence you are hesitant to buy more and will wait until the unstaking slows down.

The amount being deposited doesn't mean anything because those deposited ETH wasn't going to be sold anyways but the unstaked ETH has a higher chance of being sold. This is what might happen if USG sends more BTC to Coinbase to sell or when MtGox releases all those BTC after a decade.

Did it really? I don't think so... The Shapella update happened around April 12 and the massive sell down happened a week later around April 19 and was really a sell down that happened with Bitcoin and it took ETH and the whole crypto market down with it.

And the funny thing is the sell down happened out of nowhere... But it's done now and the market is trying to claw back the lost gains. So far so good even with the recent shenanigans.

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Quote from: kevinzxz on April 27, 2023, 03:49:19 AM

Quote from: GreatArkansas on April 24, 2023, 09:19:17 PM

I'm really bullish right now on Ethereum and most of my bags are in Ethereum right now.
The recent Shanghai update of Ethereum helps to become more bullish. There's a lot of money flowing into Decentralized Finance (DeFi) platforms right if you can see, with the rise of multiple layers 2 networks now, it will also help Ethereum to scale and get benefits too.

I'm the same as you, from the end of 2022 I have started to doing DCA Ethereum and of course I'm already getting profit now, but I will still hold my Ethereum until the price reaches my desired target and hopefully in the near future Ethereum price will reach $2,500-$3,000 (before mid-2023).

Those of you who bought in late 2022 can clearly see the temporary gains they can get from Ethereum. But it's not too late for people who want to start investing in Ethereum because at the current price, it's still worth buying and holding for a while.

Meanwhile, the price of Ethereum itself is still predicted by many to increase again. The latest update has made many people more confident in holding Ethereum. So do something before things change.

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Quote from: GreatArkansas on April 24, 2023, 09:19:17 PM

I'm really bullish right now on Ethereum and most of my bags are in Ethereum right now.
The recent Shanghai update of Ethereum helps to become more bullish. There's a lot of money flowing into Decentralized Finance (DeFi) platforms right if you can see, with the rise of multiple layers 2 networks now, it will also help Ethereum to scale and get benefits too.

I'm the same as you, from the end of 2022 I have started to doing DCA Ethereum and of course I'm already getting profit now, but I will still hold my Ethereum until the price reaches my desired target and hopefully in the near future Ethereum price will reach $2,500-$3,000 (before mid-2023).

GreatArkansas

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I'm really bullish right now on Ethereum and most of my bags are in Ethereum right now.
The recent Shanghai update of Ethereum helps to become more bullish. There's a lot of money flowing into Decentralized Finance (DeFi) platforms right if you can see, with the rise of multiple layers 2 networks now, it will also help Ethereum to scale and get benefits too.

SmartGold01

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Ethereum price may likely face some difficulty to rise since it was from PoW to PoS imo.
Then boils down to the price i think there is a strong resistance btw price of $1700 to $1850 which makes the traders maintaining the level of the price, although there is a much selling pressure due to the 10 percent change in price (drop), causing little traders to panic & sell while the institutional traders trying their best to hold the market on a suspend making it trading between $1800.

jossiel

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I still hold some ETH and I'm thinking of selling them with the upcoming bull run. So, if the current form of it is like 2021 then we'll see the soar of it very soon.

But before that, I guess the sign will be through bitcoin and then ETH shall follow it. As much as I want to accumulate more ETH, I've chosen to do that with bitcoin because of limited funds but then I'll take my moment when it's taking profit with my remaining ETH.

Similificator

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Honestly, Ethereum is ranked #1 in my best altcoin investment list. And since I really expect great things from Ethereum, I would rather invest the majority of my altcoin allocation funds on Ethereum than on other altcoins out there (I still do this in moderation though just to be clear, Haha). Which is why I only have always had a few altcoins in my main portfolio. Although not a day trader, I try to always find good opportunities to buy back some Ethereum Just a few days after taking profits. The only times I avoid touching the buy and sell buttons on Ethereum are on times when the whole market gets too volatile or goes sideways for a long time (I usually wait for indicators before jumping back in on seasons like such).

adaseb

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Basically the reason why it went below the $2000 mark is due to all the unstaking that is taking place and causing the selling. Crypto is transparent and its very easy to see how much ETH is unstaked everyday. If you are a holder you can see this and know before hand that most of these unstaked ETH will be sent to an exchange and sold. Hence you are hesitant to buy more and will wait until the unstaking slows down.

The amount being deposited doesn't mean anything because those deposited ETH wasn't going to be sold anyways but the unstaked ETH has a higher chance of being sold. This is what might happen if USG sends more BTC to Coinbase to sell or when MtGox releases all those BTC after a decade.

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Quote from: o48o on April 22, 2023, 01:08:46 PM

Quote from: tokeweed on April 19, 2023, 11:19:40 AM

I don't know if you guys noticed but ETH is back in its 2021 trend where it belongs. Wink

Now holding on to it will depend on how it consolidates above the red bar. Obviously if the buyers gobble up everything the market throws at them then hopefully we'll see another leg up to 2.5k soon and 3.5k after that. Leeezz gooo!
-cut-

Yeah true, but i don't see how you do your TA. If this would be a counted as a elliot wave leg wouldn't this be a second leg and according to elliot wave theory 4th and 5th are retracing before we go up? Or do you think it would retrace from 3.5K? Where to? Back to 2500 maybe? Anyway, good to be on the solid ground soon. I feel easy to long from there.

Uh, it's not really TA. It's just looking at the chart and showing what currently happening. TA has some sort on analysis baked in and with it, selling a prediction. As for me I'm just showing what's happening at that given moment and try to see if it's bullish or bearish.

And I'm not really the guy to talk to about Elliot Waves or other predictive indicators. I think dragonvslinux is a more qualified guy. He's smart.

theskillzdatklls

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Quote from: OcTradism on April 19, 2023, 10:32:47 PM

Ethereum now is like it was in 2019, 4 years ago. In 2019 bear market Ethereum recovered from about $130 to that year highest price about $340.

I don't expect Ethereum to have a rally which is too closely to its all time high in 2021 about $4700. It won't happen in a bear market and it is simple to realize that fact. I agree that it is a good plan to accumulate Ethereum before a next halving of Bitcoin in 2024. Ethereum will follow Bitcoin after Bitcoin makes its new all time high. It is specifically supported by the Burning mechanism by Ethereum itself.

A great website to see changes of Ethereum supply after the Burning mechanism was activated and how will it go in speculative model.
https://ultrasound.money/

Great website, go there all the time. ETH down now almost 110k in supply since the merge. Which feels like a lot but is a drop in the bucket. And it's absolutely nothing compared to the old POW issuance that used to be live. Regardless it's a fun trend to watch.

The interesting thing to note about ETH is the ETH/BTC ratio to me personally. It really didn't lose much of anything during the bear market trading around roughly 0.07 which is interesting. And during bull markets, various alts seem to crush. So there is a plausible case to be made that on the next bull market ETH rips higher on the ETH/BTC ratio to somewhere in the 0.1-.2 range. Who knows.

I can say that there's about 10x developer work done on ETH consistently over time and about 10x TX fees happening vs Bitcoin, so it is a highly sought after blockchain network, especially when compared with anything else, even Bitcoin.

o48o

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Quote from: tokeweed on April 19, 2023, 11:19:40 AM

I don't know if you guys noticed but ETH is back in its 2021 trend where it belongs. Wink

Now holding on to it will depend on how it consolidates above the red bar. Obviously if the buyers gobble up everything the market throws at them then hopefully we'll see another leg up to 2.5k soon and 3.5k after that. Leeezz gooo!
-cut-

Yeah true, but i don't see how you do your TA. If this would be a counted as a elliot wave leg wouldn't this be a second leg and according to elliot wave theory 4th and 5th are retracing before we go up? Or do you think it would retrace from 3.5K? Where to? Back to 2500 maybe? Anyway, good to be on the solid ground soon. I feel easy to long from there.

tokeweed

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Well it looks like a day after I made this thread the trading gods decided to sell down and get the price below the red bar as I drew it in the chart. Lmao. Cheesy

Now watch if there's a bounce and the red bar becomes the resitance. If we do, then that's an S/R flip. Things could get dicey from here and it's back to limbo for us...

It could also show that OcTradism was right after all. We might not be really out of the woods yet.

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Quote from: tokeweed on April 20, 2023, 11:25:20 AM

That's an interesting take saying we're still in a bear market. I mean yeah it still lacks a very important factor right now. The guys from the mainstream.. But the charts show that we're starting getting in the bull market. BTC is up close to 100% from the November lows, ETH isn't doing too bad too and there's a meme coin craze going on. All signs are pointing that we're getting there...

We are not in a bear market but we are not in a bull market yet either, we are at the beginning of the way Bitcoin has achieved 100% but it is still far from ATH. Ethereum too.

Since the Shanghai update, the price has started to improve, although there were fears of a price drop due to the upgrade of Ethereum, which will allow the reserved staking coins to be unlocked, but things are going very well so far and more rises are expected.

SquallLeonhart

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Quote from: tokeweed on April 20, 2023, 11:25:20 AM

Quote from: OcTradism on April 19, 2023, 10:32:47 PM

Ethereum now is like it was in 2019, 4 years ago. In 2019 bear market Ethereum recovered from about $130 to that year highest price about $340.

I don't expect Ethereum to have a rally which is too closely to its all time high in 2021 about $4700. It won't happen in a bear market and it is simple to realize that fact. I agree that it is a good plan to accumulate Ethereum before a next halving of Bitcoin in 2024. Ethereum will follow Bitcoin after Bitcoin makes its new all time high. It is specifically supported by the Burning mechanism by Ethereum itself.

A great website to see changes of Ethereum supply after the Burning mechanism was activated and how will it go in speculative model.
https://ultrasound.money/

That's an interesting take saying we're still in a bear market. I mean yeah it still lacks a very important factor right now. The guys from the mainstream.. But the charts show that we're starting getting in the bull market. BTC is up close to 100% from the November lows, ETH isn't doing too bad too and there's a meme coin craze going on. All signs are pointing that we're getting there...

^ That last bit about the meme coins could also point out that we've just hit the local top tho. Cheesy

I definitely disagree with this for sure, I mean saying that we are still in a bear market just because we are not near ATH price is something that should not be considered to be true at all. We went up from 16k to 30k, if that doesn't still make you think that we are in a bitcoin bull run, then I think only breaking over ATH would help you with that.

I personally hope that people would be able to forget that we went down from 68k, but start thinking that we would go up from 16k instead. If you think we are 50%+ down, you would be upset but if you look at 100% up that would be alright. This is why I feel like people need to change their point of view and they would be able to turn that bear thinking into bull thinking for sure.

disconnectme

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Short term I am not bullish on Ethereum, the tokens that have just been unstaked will surely enter the market back and who is going to buy it, another thing is the new influx of L2 entering the market, some people might see this as bullish but IMO it is bearish for Ethereum, in future, I can see VCs demanding from the team to start using their native tokens for transaction fees, remember that Polygon uses its native token so why won't other projects look into this direction just to add more use cases to the tokens. I am not saying the price will dump but I don't see the price going up for now

rhomelmabini

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If we lose that 1700 support range then we would see low at even 1500 again but that will depend on the momentum Bitcoin will make. Yeah we saw that somehow it doesn't correlates anymore but right now it takes time for Ethereum to catch up. It doesn't correlates most of the time with Bitcoin so the chance for Ethereum to blast was like to the fact that Bitcoin dominance was likely to go down, so, I'm thinking that Ethereum could shift up and other altcoins, so a mini alt season is my guess to happen. It could not be this month or May but probably June or July.

el kaka22

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I think that will take some time. I know that it has gotten so much more attention lately but that is what happens with ETH each time it goes up. Because it got a lot of attention, we ended up seeing the gas fee increase as well, because we saw the gas fee increase, people will start to look for other stuff and because they will leave for other stuff, we are going to end up seeing ETH price not going up that much more.

This is a cycle, then the gas fee drops due to people leaving, and the price goes back up again, and this repeats all the time. In the 2021 bull period we didn't had that, we had gas fee being high and people still using it anyway to make even more money than they spend on the gas fee, that is not available today.

tokeweed

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Quote from: OcTradism on April 19, 2023, 10:32:47 PM

Ethereum now is like it was in 2019, 4 years ago. In 2019 bear market Ethereum recovered from about $130 to that year highest price about $340.

I don't expect Ethereum to have a rally which is too closely to its all time high in 2021 about $4700. It won't happen in a bear market and it is simple to realize that fact. I agree that it is a good plan to accumulate Ethereum before a next halving of Bitcoin in 2024. Ethereum will follow Bitcoin after Bitcoin makes its new all time high. It is specifically supported by the Burning mechanism by Ethereum itself.

A great website to see changes of Ethereum supply after the Burning mechanism was activated and how will it go in speculative model.
https://ultrasound.money/

That's an interesting take saying we're still in a bear market. I mean yeah it still lacks a very important factor right now. The guys from the mainstream.. But the charts show that we're starting getting in the bull market. BTC is up close to 100% from the November lows, ETH isn't doing too bad too and there's a meme coin craze going on. All signs are pointing that we're getting there...

^ That last bit about the meme coins could also point out that we've just hit the local top tho. Cheesy

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Ethereum Coin 2021 Highest Price Increase and Half Came in Present Time. When the price of Bitcoin rises, other altcoins rise overnight. Ethereum is one of the coins that follow Bitcoin. At the moment Ethereum is a great platform which is a perfect coin to invest in at the moment. I have seen ethereum coin go from lows to highs of $4500 and lows were at $120. Now the current is approaching the bull market again so the price of Ethereum coin will rise again.

OcTradism

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Ethereum now is like it was in 2019, 4 years ago. In 2019 bear market Ethereum recovered from about $130 to that year highest price about $340.

I don't expect Ethereum to have a rally which is too closely to its all time high in 2021 about $4700. It won't happen in a bear market and it is simple to realize that fact. I agree that it is a good plan to accumulate Ethereum before a next halving of Bitcoin in 2024. Ethereum will follow Bitcoin after Bitcoin makes its new all time high. It is specifically supported by the Burning mechanism by Ethereum itself.

A great website to see changes of Ethereum supply after the Burning mechanism was activated and how will it go in speculative model.
https://ultrasound.money/

tokeweed

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I don't know if you guys noticed but ETH is back in its 2021 trend where it belongs. Wink

Now holding on to it will depend on how it consolidates above the red bar. Obviously if the buyers gobble up everything the market throws at them then hopefully we'll see another leg up to 2.5k soon and 3.5k after that. Leeezz gooo!

Topic: ETH Back in 2021 Form ;) (Read 189 times)