Topic: ETH Sentiment Poll for September (Read 473 times)

as said before, the price of ethereum did not increase even after the merge occurred, it was caused because we are still in a bear market. and so far, the movement of ethereum is still heavily dependent on bitcoin. However, one thing I'm pretty sure of is that when the price of bitcoin pumps, or when we have exited a bear market, the potential for a push in the price of ethereum will likely be bigger than before. In addition, it seems that it is not only crypto that is currently in a bear market, but now it seems that the bear market still includes all types of investments. so, we really need to add patience.

Back to the topic of ethereum prices, if we look at the chart on CMC in September 2022, this really proves that currently the merge effect of ethereum has not produced a positive effect. That's because, the chart from the beginning of September to the end of the month the price of ethereum is relatively declining. As can be seen in the image data from CMC below.



In addition, according to Cointelegraph, the price of ethereum is currently in the range of $1,250 and $1,410, it is possible that a price increase above $1,410 could be a signal that the price of ethereum is starting to rise again, and below $1,250, it means that we will be sinking deeper into a bear market.

ethereum is clearly still following the movement of bitcoin, where until now bitcoin is still slumped and ethereum is also following it even though there is a merger that does not affect either to increase or decrease, all because of the bitcoin factor alone.
the poll from the OP is clear that more people believe that ethereum will be close to $1K even if it isn't, but more so to $2K which is clearly further away.
but this is an indication that everyone still believes that Ethereum has not been able to move up and will continue to follow where bitcoin leads.

from the beginning of april ethereum continued to decline from $3.5K to reach $897 in mid-June, and briefly increased in august but couldn't get past $2k, and finally continued to fall back until now where the price was $1.327. but there will be no significant increase until the end of this year, will ethereum be able to pass the $2K ? looks like it will still be difficult and will continue to be below $2K.

^  And BTC seems to follow the price action of the US futures market for stock indices.  Try adding the Nasdaq since it's an index for mostly tech stocks and the broader S&P 500 index in your watch list together with BTC.  It's as close as it can get when crypto started going into a bear market.  I think it would've been worse if Asia session still mattered.  But since China went ahead and banned most of trading crypto, their influence over the market isn't as strong as it once was.  Imagine going through a huge dump during US session then followed by another dump during Asia session.  :/

The impact of the merger doesn't seem to be too visible because the price movement of ethereum has not increased too high and the price has fallen for a while. But we can hope that when the altcoin season comes, everything can change and make the price of ethereum increase and at that time, the price can break the high price again. It seems that the movement of ethereum still tends to follow the movement of bitcoin so that the price of ethereum does not rise too high. So we still have to be patient in waiting for that upward moment while buying more ethereum.

You got it all wrong.  First of all Ethereum Classic is the original Ethereum.  Ethereum, ETH is the fork.  And the reason why Ethereum is better and will be used a lot more by users is because Vitalik and co. are the sort of leaders that the community follow.  And so do the exchanges and the founders of the projects that started and were built using Ethereum.

Anyway, in hindsight I think 2000 and 1000 is kinda wide.  I should've used 1500 and 1000.  500 increments for ETH and 5000 increments for BTC.

If you remember what happened with ETC fork, its clear that even though what others could create that would have POW for new fork of eth, the original will always be better and used a lot more. Maybe we are in the bear market right now and can't see it, but the reality is that we are going to end up with something much better in the long run and when the bull run comes we are going to see ETH prices soar for sure. Its just not a good moment for crypto right now, it has nothing to do with just ethereum, bitcoin is low too, and we will see all of them recover eventually.

The marge impact has over. This time the bearish impact is still remain happen with ethereum. In my opinion when you are seeing the pump that happened with ethereum during merge was a small pump and it means nothing for now. Ethereum was even going down so hard after the merge already happened and again the ethereum community has been divided into the two community again like what happened during the fork that has created new coin like ETC

^  With the build up going into the merge, a lot of those guys at CT were saying that it was somewhat of a 'buy the rumor, sell the news' scenario.  Traders took advantage of the news and dumped their coins before the merge even happened.  But on the other hand, it could just be ETH like the rest of crypto, just followed what the US stock market was doing.  I kinda agree with the latter as there wasn't really much of a strong bid up on ETH before the merge.  Everybody was just like...  'Wait and see'.

Anyway, I'm locking the poll as having it open near the end of the month would be pointless.

The merger was successfully carried out but unfortunately could not push the ETH price movement to the level of $2k even though if we look at it about a week before the merger event was inaugurated ETH coin had experienced a price spike to the $1.6k area and was able to last several days in that area but after the event ended many investors have started selling, resulting in the price of the coin experiencing a decline in price to date and it is likely that the price of ETH will continue to trade at $1.2k -$1.4k until the end of this month.

^  Not everybody expected for the merge to lower the fees.  At least not the ones who read and understood what the merge was and what it's going to do.  I think a lot of noobs get misinformed because they don't take time to read stuff and really learn what'a going on.  That's why we got a lot of clueless people aroind these boards who are prolly repeating the wrong info.

Anyway...  As for the market, crypto saw a bit of green before US session opened.  But around 1.5 hours into the session, it's taking a little of that green away.  Let's see how it goes in 6 hours or so when US sessson closes.  :/

Because everyone just expected that ethereum gas fees will be reduced when the merger is complete, but in the end things didn't go as expected leaving some people disappointed. But I will say this is their fault not ethreum's, gas charges will be improved in other updates.
Things have changed, ethreum has become more eco-friendly and eth burning is happening very strongly, this will reduce eth supply a lot, this will be good for eth price in the long run as supply day the more reduced.


Yes, I see it too, maybe because the market went down and eth's transactions were not crowded, the gas money also decreased somewhat.

True!

Although, Ethereum just has a big upgrade that is a first domino of something big and better for Ethereum users, people were too hyped with the upgrade and they forgot what you said. The Merge by itself can not resolve the scalability issue and expensive transaction fee on Ethereum network. More upgrades are needed to resolves such issues.

^  Everything pretty much stays the same but proof of work is replaced by proof of stake.  That's it.  And no, it won't be a useless update as it's only just one of a series of updates.  The next updates would include scalability improvements to avoid high fees in times of high usage.  One update won't solve the scaling issue.

But for now you could use one of ETH's roll ups for lower fees.

So what are the notable changes of the said merge or update of ETH? I havent followed or read up fully on it yet but if those points above arent been applied specially on solving
high fees and transaction duration then it would really be considered as a useless update or merge which its no surprise that people wont really be that interested
because those things been mentioned are the ones which the community is mainly concern specially the fees.We've seen on how high erc20 fees that we do have and if this
update doesnt change up something correlated to this then we shouldnt expect for some pump.

Who are the people waiting for a pump to 10k? I think no one expects such a huge increase. The gap between the current price with 10k is too big, mate. However, it is a bit surprising that there is no pump although the merge happened. I think people aren't interested in ETH merge because it can't solve the gas fees on ETH network transactions and even won't improve the speed of the transfer process. People are disappointed when they know this fact, so no higher demand for ETH although it has a merge event. Instead of expecting the price to increase, we know the price is decreasing now.

Read:
- https://cointelegraph.com/news/lower-costs-higher-speeds-after-ethereum-s-merge-don-t-count-on-it
- https://beincrypto.com/ethereum-transaction-fees-will-not-come-down-after-merge/
- https://blockworks.co/the-merge-will-not-lower-ethereum-transaction-fees/

We haven't finished the month yet so can't say if ETH will continue to be dumped or not, but apparently, he was right when he predicted that ETH would be bearish once the merger was successful. This is quite a surprise result for us as it is considered a big event for not only ETH but also the market as we have been waiting for this event for years.

Let's be optimistic because in the long run ETH will be better when bitcoin price rises again, everything depends on bitcoin now. ETH is still the second largest coin so there is nothing to worry about.

Not all Altcoins will be thrown away when Bitcoin drops, as far as I know the Altcoins that are dumped in the crypto market are coins that can't survive when market conditions are unstable, or also as you think there is a greater possibility of disposal because they have completed the pre-pump. -fork, but not with Ethereum bro

then look at it now , is this sounds like Ethereum is breaking 2k this month? yeah last month of August ETH did it there but I am afraid it will come also this time in September .

maybe what he said is seemingly correct and the price would go down further as if you check the market now? you will see that price fell down 10% while Bitcoin increase 1% in the last 7 days.

https://coinmarketcap.com/currencies/ethereum/


1,437 $ is far low to 2k as you expected .

This is why you should not listen that much to a hype and consider every scenario, the market is still in bear so how can we see ETH at the price of $10k? That’s an over hyped for me and you can see now the result. ETH merge is done, this will be the start but don’t expect for an easy pump because it will still take time just like the other update. Once BTC recovers for sure altcoins and ETH will follow, Btc is still the basis.

Ey guys, so the merge happened.  Lol...  What happened to the so called triple having?  Everybody was waiting for a pump to 10k before the merge, during the merge and right after the merge but all we have is the same ol' let's follow what BTC is doing.  And it's bleeding red.  Down around 8% or so for the day.  :/

And here's the funny part.  ATOM is up 8%...  And trending up in a bear market?  Wtf is going on over there?  I think I aped in the wrong coin.  Lolol.