Topic: What is going on with ETH? (Read 453 times)

No one now can say whether the fall will continue. But we know from what it can depend at least this month. You should wait a bit

I don't know what happened, I know that the founders of Ethereum have sold it. Perhaps the bubble of smart contracts has officially broken. Perhaps Ethereum is overrated by people.

It should be clear that right now, vitalik had made a mistake by letting all these ICOs use it's source code and when all these ICOs are done,they dump the ETH and so it dips further.untill ICOs are eradicated, there may not be a good future for ETH
Cheers

Guys please stop repeating the same answers. If you see an idea was already given then you do not have to repeat it. If you have something new to add then make a comment or leave it. There is no point to make a post when you have nothing new to say.

What  I think happened with Eth is just stupid ICO projects panic sold their ETH stacks which they hold all bullrun period and didn't cash out when they suppose to. Who made those projects to dump their ETH stacks? I'm 100% sure whales or some huge entity who knows what to do, they crash the price and then rebought from ICOs.

Lately people were buying ETH alot. Even when BTC started bear trend last week, ETH was holding its position. I am not panic about ETH price falling. Its buying opportunity for me.

I agree. It's margin trading Bitmex is the devil. Sentiment for crypto is still pretty high but the entire market is being manipulate in my opinion by those with bigger stacks than you and I can imagine. The ability to short with leverage from a large position will always defeat those who want to invest their lunch money. This is how the rich get richer and the poor well you know.

You mean no mechanism? Well in that case give me a cryptocurrency that has a mechanism of controlling its price. Even Bitcoin are being manipulated. IMO whales are controlling the crypto prices where the miners was meant to control it.

The miners are investing money to bring the bitcoin in life meaning they are the producers. If the price was controlled by them then we would not see this much price volatility.

ethereum drop simply because a lot of project are dumping it ICO for salary payments and the right reason is there is nt a mechanism that support the ethereum price right now

Yes I had to keep it this way to prevent spamming. I have deleted some more posts too. Let's see how many more input we get.

Anyway, the last time I have seen - it went down 0.026. Now it's over 0.030 from last few days.
 

At first, I thought that the reason for the ether dump was that the ICO projects that collected the capitalization on the ETH are now selling it hard, so as not to get an even greater loss in the dollar. But then I looked at the project official wallets, where they store the collected ether - most projects have funds in place. So it's just a manipulation.

Ah, good to see a self mod thread in Alt Discussion. The shit replies crossed 20+ and you have trashed most of them, except keeping a few good ones.

There has been significant dip in the btc/eth trading pairs with eth reaching as low as 0.03BTC these few days. The dip might have been due to various reasons with the primary one being the ICO guys selling of their Eth which they have collected in ICO to prevent further losses due to the bearish market prevailing now. Further cmc datas has shown that btc dominance is raising at a steep rate with the tokens getting vanished from the market at a speedy and an enormous rate.

According to recent stats, it is seen that ICOs have raised around $7billion this year and with August being the lowest. Most of the ICOs collect eth as their primary currency and sell them off to start developing their platform.

We should even note that, eth doesn't have a cap and a minimum supply. Also as of VB words, eth should be considered as a fuel for running the platform on top of ethereum network. The new market traders could have realized this lately and would have sold their eth which they accumulated in the earlier 2017 days.

The recent words from VB suggests that "Eth and other currencies has reached their maximum potential and would never rise in steep gains". These may have also created a panic among the traders and some minor whales who could have dumped the price.

I don't think so, unless we have some good improvements in the eth protocol and the introduction of Casper.

     Market is Volatile, it is unpredictable, anything can happened during the market trading. There are  a lot of indicators that can be attributed to the down stream of the market of Crypto Currency Market. Bad news or good market react,  some investor on the HODL, Traders play along the market Volatility.not to mention the issues on Regulations, Banned, Scammer, and other ilegal activity by the Hackers.  Ethereum often time goes against Bitcoin price value as posted in the market, but we can never confirmed either the Whales or market insiders have something to do with the market down stream.

Source: https://www.bloomberg.com/news/articles/2018-09-08/crypto-growth-nears-ceiling-ethereum-co-founder-buterin-says

Even Etihad's co-founder Vitalik Buterin believes that crypto has developed into a "ceiling". It seems that he also lost confidence in Ethereum. This is a bad signal that Ethereum is on the road to collapse.

What is going wrong nobody knows. I for one don't understand how can a coin worth 1k have been doing terribly bad. And what's worse is that this downtrend does not seem to stop. We are going to see ETH reach a massive dip of 50USD or thereabouts.

Been researching for almost a day now, and yet, I found nothing. Maybe this is just a manipulation... or maybe not. I had a bad feeling that price will go down a bit more.

I think a lot of the downdraft Ethereum is getting is from people shorting Ethereum. It is only in the last little while that we have seen exchanges offering margin. People are taking advantage of this by using it to create short positions. The basic trade that I think a lot of traders have been making is using BTC to Short ETH. Since ETH is more volatile than BTC and the markets tend to move in tandem any move to the downside creates profit from the larger drop in ETH than the loss you suffer from BTC. If the market moves the other way and ETH rises it probably mean BTC has also risen and limited your loss. Exchanges have also been reporting that short position have reached record levels.

In my opinion, 0.03 BTC is supporting zone of Ethereum. Some holders sold at this price because they want to break this supporting zone to make another deep(maybe they are whales). If say that ICO projects and investors are selling at the price of 0.03 BTC, it is not exactly. They have enough smart to know when to sell to save their funding.

there was a reason behind all of this scenario the first should be a lot of people are worrying to see their portfolio of ethereum to go down more and more and then they have been selling their ethereum and liquidate it to the bitcoin. Another reason to see the a lot of people are buy bitcoin caused by ETF and that could be the main reason.

This will be a self moderated topic to prevent obvious spamming. I need a discussion not just comments. I am keen to understand the market.

---

For me it's a call to buy by the way.



Just few minutes ago I saw a buy order of around 72BTC (the screenshot is from Binance). One side is buying and another side is selling at the price 0.03 BTC (around). I have no idea how long this bear market will continue but I have seen ETH to bounce back from aroun 0.028 BTC to 0.096 BTC.

What are the factors are causing this price drop for ETH. I am sure those who are selling at this price are not stupid.