Why ETH dropped 20% from the high peak? Anyone knows? - page 4.

Twinkledoe

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Quote from: rhomelmabini on February 24, 2021, 04:49:51 AM

Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

Maybe you're newbie to the crypto cycle let me say it straight but when Bitcoin is falling usually almost all of the coins/tokens in the market does the same. The real reason was there are some whales already taking profits but after Bitcoin dominance keeps falling the alts will fly and probably it is showing some signs as the major altcoin (Ethereum) is taking some leads and it backs up again at $1700. This isn't some financial advice but historically this has been done before way back 2017, I wouldn't be surprised if some alts will make some new ATH.

He will understand price movement once he stays long enough in crypto. This drop is very common if the btc is also going down. Most alts are just following the btc trend. This is why crypto is a very volatile investment, it can go up or down in just few hours or even before you even blink. So if you are a holder and need your funds and can't wait long, you need to keep up with the market and just cash out once it is above your buying price.

TastyChillySauce00

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Just very normal correction after price went up so much and now it's already going up again about 20% to almost $1700. The reason? well although most of people here might speculate a lot of things but it seems the current ETH market dumping heavily affected by bitcoin dumping like any other altcoins aswell and there's rumour going around about offloading of thousands btc but now it seems the market becoming green again and probably gonna go back to its former price in no time.

slaman29

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Chill guys, it's coming back to life. Not sure what happened but I read about a flash crash on Kraken, although really that seemed to be as a RESULT of the coming down from Bitcoin.

And now people blaming Elon Musk and all.

Just a normal correction IMO.

rhomelmabini

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

Maybe you're newbie to the crypto cycle let me say it straight but when Bitcoin is falling usually almost all of the coins/tokens in the market does the same. The real reason was there are some whales already taking profits but after Bitcoin dominance keeps falling the alts will fly and probably it is showing some signs as the major altcoin (Ethereum) is taking some leads and it backs up again at $1700. This isn't some financial advice but historically this has been done before way back 2017, I wouldn't be surprised if some alts will make some new ATH.

carlisle1

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

are you sure you are asking this ? can't you see that Bitcoin is falling and that's why all of the currencies are moving along together with the dump.

It is not only Ethereum that has 20-30% drops because majority of the coins in market are having some experience.

And be ready because this might be the long awaited correction before the final blow comes and will record the Highest value Bitcoin will hold again with the effect of halving and pandemic.

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

The dump of bitcoin sent the entire altcoin market into a big dip. almost on average it has decreased by 40-50%. I think this is all because of the bitcoin factor which dropped dramatically. Right now, if we check the Ethereum price has increased again and is in the consolidation stage it will continue to be a bullish or down trend.

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Quote from: AliMan on February 23, 2021, 06:25:18 PM

Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

Basically it's the point here, long term holders have decided to dump and their mindset was already profit. They're thinking to do buy and sell this time in order to increase the quantity if their holdings. By the time of recovery they'll able to gain much higher returns. Whales don't care of losing, because if they won't risk they'll fail to grab the chance to earn much even bigger profit.

Lucky every one hold and save assets in USDT during bitcoin or altcoin have lower price, I think good moment correction just one day and now bitcoin or ethereum back to higher price, not worry and confused because chance coming not every time, so looking ethereum dip lower price from $2,000 to $1,600 give you chance to buy back and now you have earn much profit if buy much, but if you worry maybe you loss opportunity to get profit.

AliMan

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

Basically it's the point here, long term holders have decided to dump and their mindset was already profit. They're thinking to do buy and sell this time in order to increase the quantity if their holdings. By the time of recovery they'll able to gain much higher returns. Whales don't care of losing, because if they won't risk they'll fail to grab the chance to earn much even bigger profit.

sayaya17

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The price of ethereum can drop as much as 20% it's not something that is troubling should be. Since it has been several months the price of ethereum
continues to peak, so it is impossible if ethereum continues to move straight. All altcoins and bitcoins will experience this. For that, we as someone who
has experience in the crypto industry must have understood this. Especially if bitcoin is in decline as it is now, altcoins will also experience the same thing.

Ozero

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Quote from: MishaSER on February 23, 2021, 10:01:50 AM

Guys, I read your comments and I want to ask. Can anyone explain what kind of news this happened. I understand the market cannot grow forever, etc., etc. But who provoked?

For a correction, even a deep one, like now, a serious reason is not necessary. There could be several large sales of batches of bitcoins, which provoked the general drop. Now CoinMarketCap shows a drop in the price of bitcoin to $ 46,782, and ethereum to $ 1,533. Both coins have declined 11 percent over the past 24 hours. So it wasn't just ethereum that fell. Roughly the same drop across the entire cryptocurrency market. This is normal for this market. To grow further, a correction is needed.

GideonGono

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

The market is now starting to turn red most of the crypto are dropping down and it has been how the market works you couldn't expect it to be always green or always increasing,
Are you expecting the investor to only invest on it and they wouldn't take their profit I think it would be normal for the market to have this kind of cycle once in awhile specially when it gets so pump.
The easiest way to explain what happened in the market is that most of the holders decided to take their profit.

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Bitcoin have lower price from $57000 become $48000 and give impact for many altcoin and exactly ethereum always allowing how bitcoin price, so far when bitcoin going to the top price ethereum always have the same price and going up, so when bitcoin down just waiting with lower price to buy ethereum, still not stable until right with how much bitcoin correction, will going down under $40,000 or bitcoin will back to higher price again.

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Quote from: gathermind on February 23, 2021, 06:47:07 AM

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened? Cry

You make it sound as if ethereum is the only coin dropping, isn't bitcoin the first coin that other coins are looking up to? What is the price of bitcoin right now? 47,800$ so tell me, how won't Ethereum be affected? If bitcoin recovers ethereum will definitely revaluate too

akirasendo17

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I think bitcoin has also impact with ethereum price, but I think the most notable one is the gas price for transferring and swapping token in the ethereum network, imagine if you are going to swap worth 50 USD your fee is like 150 USD, will you go to use or swap the coin? most of the trader goes to binance chain because of cheap fee and faster transaction, also I think the binance stopping ethereum withdrawal and deposit make it worse, and it favored binance.

max6575

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release of statement from minister of treasury gives on consequence as the price might be as well to drop due with inpopularity of option with chance of occupation. minister advises retail investors to stay away from crypto token as might have with risks on losing funds. that is what we read in media today.

meldrio1

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If you check the market now not only ethereum that dropped so much seems almost all in the cryptos went down so bad. I guess the bullish time is over so it's time to bear I think. I'm not fudding I'm just speculating the market that could possible the bear market will come.

ololajulo

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Quote from: tvplus006 on February 23, 2021, 07:21:55 AM

Quote from: gathermind on February 23, 2021, 06:47:07 AM

...Anyone knows what is happened? Cry

It is naive to expect that at a time when bitcoin has lost 30% in its price, the price of ethereum and the rest of the cryptocurrency will remain the same. It is naive to expect that at a time when bitcoin has lost 30% in its price, the price of ethereum and the rest of the cryptocurrency will remain the same.

The dump is not up to 30% and we have seen worst at over 30% dump even in a bull market and it gets back. Ethereum has not been impressing even in this bull market so nothing surprising, sadly the gas fee is still high, so it is not only when the price is dumping that gas prices go up. Maybe more money will go to altcoins after this dump, it could give impression that fund is not coming in there for now.

xzone

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I think there is nothing to be surprised about. Nothing ever goes up in price. Newcomers should have seen this situation too, after all, someone has made money and has to return to cash. When the panic sales also came, prices fell very quickly.
There have to be fixes from time to time, otherwise it would be too dangerous to invest. Thanks to these corrections, we are seeing healthier and longer rises. Remember that we are still in the bull, things will be different after a few days

MishaSER

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Guys, I read your comments and I want to ask. Can anyone explain what kind of news this happened. I understand the market cannot grow forever, etc., etc. But who provoked?

shoreno

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Quote from: Distinctin on February 23, 2021, 08:35:38 AM

I see the huge decline since yesterday and the sad thing is that there is no recovery yet to happen up to this, the price tends to drop continouosly. We never heard any news but this is the effect of the GAS fee that we all had to suffer. Only a few now are buying Ethereum as the majority are choosing other potential coins that could save them huge fees and also profitable. We can't just ignore this as we are also spending the funds wisely and we need to find another way.

fees is also my lead but if this was the only reason then eth should be the only coin that will drop and not btc and the rest of the gang . dont tell me that they also have a problem with the fee but nope they dont have .

maybe btc do knows something about the drop of the altcoins like what most of the users of this thread are suspecting . theres no major recovery in btc yet so lets chill for a while and in the meantime lets stay tuned for the news to know if theres other reason for this dip

Topic: Why ETH dropped 20% from the high peak? Anyone knows? - page 4. (Read 753 times)