Why ETH price keeps decreasing? | Bitcointalksearch.org

sou-kou

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Quote from: goaldigger on October 13, 2022, 05:14:26 PM

The supply might become lower but if there’s no demand for that, you can’t expect for the price to go up. Probably people are into Bitcoin right now or they hold more stablecoins for now waiting for the right moment to buy more cheaper ETH, and because of the market trend this is a best way to be more safe. The trend influence the whole market, we can’t expect ETH to pump while others are dumping, ETH also rely with the trend of BTC no matter how good the news is.

That's right, the king hasn't moved much, how can the little brother be better?
The main reason is that the entire market is too bleak, and when the market heats up, all currencies will rise.

BlackPinker

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Quote from: Blawpaw on November 29, 2022, 02:27:05 PM

Quote from: ChillyMatthew on October 13, 2022, 12:51:57 PM

Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.

Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.

Why hasn't this had a beneficial effect on the price of ETH?

Original source:

https://twitter.com/thetokenist/status/1580532690360872961

https://tokenist.com/ethereum-turns-deflationary-but-drops-7-as-market-stays-uncertain/

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

This reminds me of someone who said to me that other currencies except BTC may face zero, but I don’t think ETH will be included. After all, ETH is the founding father of the country and will not be discarded by the market in the end.

lalabotax

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Quote from: Abiky on November 29, 2022, 09:28:51 PM

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over.

This though may mostly had by beginners or people who are always thinking only for short-term investment with high expectations. And I ma sure that this will not work very well as long as they change their mind about investment in the crypto industry. This is not a way to get rich overnight. this is also not a safe way to make investment to be zero risk, there are always risks. Moreover in the altcoins, the price during this bearish era will be really very sure and string. The people who panic and are not patient with the condition will change their minds by depressing and thinking negatively about certain coins. So, they have high expectations about the ETH prices to rise up, but the fact is on the contrary. ETH price is now very decreasing, but we also feel sure when the bearish ends and bullish comes, ETH price will be able to rise up again.

Riodarvg

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Quote from: Abiky on November 29, 2022, 09:28:51 PM

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over. Experts are predicting the market will turn bullish again when BTC's block reward halves by 2024. Of course, that would depend on the situation of the global economy. If the global economy worsens, don't expect ETH or any other cryptocurrency to rise in price anytime soon.

I'd just take advantage of this opportunity since it only comes once in a lifetime. ETH is pretty cheap right now compared to its latest ATH, so why not buy and "hodl" some coins for the next bull market? Just my opinion

Many cryptocurrencies have suffered greatly in bear markets. The price of Bitcoin has fallen a lot during this bear market, and since ETH also follows the market trend of BTC, it means that the price of ETH will also fall along with it.
ETH still has potential, wait patiently for a price correction when the market recovers.

Abiky

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Quote from: Blawpaw on November 30, 2022, 02:26:22 PM

Yeah, all those unexperienced traders were expecting a surge in price before or after the merge, but instead it went the otherway around. This could be basically foreseen by those who know the fundamentals. Now, if Ethereum was something valuable when it was represented by a decentralized network, logic would point out that it would not be that valuable if it was not decentralized. Eth is now absolutely centralized, so I see no difference from BNB at this point. Now, would you say that BNB would go to 5k as well, and what would be the fundamentals behind that belief??? That is about what I can say to anyone who still sees value in eth...

It went the other way around because the global economy is in a pretty bad shape. That, and also the fact that investors were disappointed after they've discovered Ethereum became a centralized "shitcoin". We can never expect prices to rise if there's a lot of negativism surrounding the market. I think it's going to take quite some time before ETH reaches a new All-time-high in price. The same can be said about Bitcoin. Only those who're patient will be able to obtain great results with their investment in the future.

I just hope ETH solves centralization issues, to help fulfill its promise of being the "unstoppable platform for decentralized applications". Otherwise, the idea of Web 3.0 would become nothing but a dream. No one knows what the future holds for ETH, so we can only hope for the best. Just my opinion

newbtc101

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Quote from: ChillyMatthew on October 13, 2022, 12:51:57 PM

Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.

Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.

Why hasn't this had a beneficial effect on the price of ETH?

Original source:

https://twitter.com/thetokenist/status/1580532690360872961

https://tokenist.com/ethereum-turns-deflationary-but-drops-7-as-market-stays-uncertain/

This shouldn't be too surprising - there have been way too many negative news recently and which affected all projects. Why ETH should be an exception?

Yamifoud

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Quote from: alexandr1115 on December 01, 2022, 02:21:04 PM

Yes, in general, this whole transition is very doubtful! The PoS algorithm itself is not some kind of innovative solution and in general, it is not entirely clear why and to what this transition was made. There are other coins that work with the PoS algorithm, and it is very little noticeable that they have become popular or in demand only thanks to this algorithm. it seems to me that this algorithm is very much idealized and overrated!!!

Yes, it seems the results are pretty bad but I respect the acceptance isn't clear and fast which takes time. However, the development continues and I don't think that Mr. Vitalik will just let this dropping scenario do deeper. But considering the current situation, the demand isn't really high. We can't really expect a price rally at this point but let us see how it improves next year as I guess that is something enough to see how the transition affects the demand.

alexandr1115

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Quote from: Chainsmokers on November 30, 2022, 12:24:04 AM

Quote from: BlackPinker on November 29, 2022, 03:53:58 AM

The last migration must have had a great impact. In addition, the gas fee of the second-tier network is really low. It is so low that I don’t want to go back to ETH. I think this is also a good thing. This is also an optimization. Although the currency price It fell, but the product is optimized and perfect.

The gas fee on the ethereum network after migration is still very expensive when compared to Binance Smart Chain or Polygon,
I really don't understand that Ethereum 2.0 which migrated from PoW to PoS can't change that, I as an Ethereum network user for a long time have been really disappointed,
and maybe I'm not the only one who is disappointed and makes one of the reasons why the price of Ethereum has fallen,
yes indeed that is one of the reasons but there are several other reasons, that is the bear market still dominates the market and there are also more and more bad news about altcoins.

Yes, in general, this whole transition is very doubtful! The PoS algorithm itself is not some kind of innovative solution and in general, it is not entirely clear why and to what this transition was made. There are other coins that work with the PoS algorithm, and it is very little noticeable that they have become popular or in demand only thanks to this algorithm. it seems to me that this algorithm is very much idealized and overrated!!!

Heulahee

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In my opinion, the Eth price decreasing is Eth Merge, and I think it is because bitcoin is not in its stable position, which makes many coins decrease we also knew that from the previous few months, we didn't see a better think in according to BTC, as this will be the big change for it, according to my research.

Blawpaw

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Quote from: Silberman on November 29, 2022, 06:42:55 PM

Quote from: Blawpaw on November 29, 2022, 02:27:05 PM

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

Traders sometimes blind themselves to the truth they have right in front of their eyes, as much as ethereum lovers do not like it ethereum depends heavily on bitcoin in order to grow, recently we had the transition of ethereum from POW to POS and yet the rally everyone was expecting did not happen, and why that was the case? Because bitcoin was not bullish at the time, if ethereum went over this transition during the bull market the results would have been different, but this only shows how much ethereum and all altcoins depend on bitcoin for their growth.

Yeah, all those unexperienced traders were expecting a surge in price before or after the merge, but instead it went the otherway around. This could be basically foreseen by those who know the fundamentals. Now, if Ethereum was something valuable when it was represented by a decentralized network, logic would point out that it would not be that valuable if it was not decentralized. Eth is now absolutely centralized, so I see no difference from BNB at this point. Now, would you say that BNB would go to 5k as well, and what would be the fundamentals behind that belief??? That is about what I can say to anyone who still sees value in eth...

Chainsmokers

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Quote from: BlackPinker on November 29, 2022, 03:53:58 AM

The last migration must have had a great impact. In addition, the gas fee of the second-tier network is really low. It is so low that I don’t want to go back to ETH. I think this is also a good thing. This is also an optimization. Although the currency price It fell, but the product is optimized and perfect.

The gas fee on the ethereum network after migration is still very expensive when compared to Binance Smart Chain or Polygon,
I really don't understand that Ethereum 2.0 which migrated from PoW to PoS can't change that, I as an Ethereum network user for a long time have been really disappointed,
and maybe I'm not the only one who is disappointed and makes one of the reasons why the price of Ethereum has fallen,
yes indeed that is one of the reasons but there are several other reasons, that is the bear market still dominates the market and there are also more and more bad news about altcoins.

Abiky

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Quote from: Yatsan on November 28, 2022, 06:48:33 PM

Majority of cryptos' market value are falling at this period due to factors and if you guys are not new in here, you'd worry not much. Part of its volatility are periods of ups and seasons wherein prices are down or struggling to uprise, just as what we are seeing at this point. If you're quite tied at the middle, then holding would be the best thing to do and avoid selling ofcourse. If you are planning to invest on the other hand, this is a good point to buy but don't expect profit in an instant. At this moment, it is still not clear when will bullish trend enter the market. So invest only what you can afford losing(as being mentioned x10 daily in this forum LOL). However if you cannot endure market downs, then wait for the trend line to be clear before you enter.

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over. Experts are predicting the market will turn bullish again when BTC's block reward halves by 2024. Of course, that would depend on the situation of the global economy. If the global economy worsens, don't expect ETH or any other cryptocurrency to rise in price anytime soon.

I'd just take advantage of this opportunity since it only comes once in a lifetime. ETH is pretty cheap right now compared to its latest ATH, so why not buy and "hodl" some coins for the next bull market? Just my opinion

Oilacris

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Quote from: Silberman on November 29, 2022, 06:42:55 PM

Quote from: Blawpaw on November 29, 2022, 02:27:05 PM

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

Traders sometimes blind themselves to the truth they have right in front of their eyes, as much as ethereum lovers do not like it ethereum depends heavily on bitcoin in order to grow, recently we had the transition of ethereum from POW to POS and yet the rally everyone was expecting did not happen, and why that was the case? Because bitcoin was not bullish at the time, if ethereum went over this transition during the bull market the results would have been different, but this only shows how much ethereum and all altcoins depend on bitcoin for their growth.

This is the truth on which people are really that way too advanced and really that believing that ETH could shoot up its price after the update or that event.
Its true that the market is too bearish which its not surprising that it didnt able to take off.

I dont know if the community arent really just interested with that POW to POS thing from ETH but if you do really look on bigger picture, then this thing is really that significant.

Decreasing prices is always been part of the market, you cant really just see upward movements whenever fundamentals are present.

Silberman

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Quote from: Blawpaw on November 29, 2022, 02:27:05 PM

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

Traders sometimes blind themselves to the truth they have right in front of their eyes, as much as ethereum lovers do not like it ethereum depends heavily on bitcoin in order to grow, recently we had the transition of ethereum from POW to POS and yet the rally everyone was expecting did not happen, and why that was the case? Because bitcoin was not bullish at the time, if ethereum went over this transition during the bull market the results would have been different, but this only shows how much ethereum and all altcoins depend on bitcoin for their growth.

usekevin

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Ethereum and bitcoin was the two potential coin in the current situation.The price is Ethereum was increased and reduce based on the current market situation.When the market was pump,you can cash out some money.It Will helps you to gain huge for sure.But whales plays some role,when the market turns to the green.So they will do the bull sale and dump the market.During that time,you need to hold your coins.Ethereum is good coin to buy at all the seasons of time.

Blawpaw

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Quote from: ChillyMatthew on October 13, 2022, 12:51:57 PM

Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.

Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.

Why hasn't this had a beneficial effect on the price of ETH?

Original source:

https://twitter.com/thetokenist/status/1580532690360872961

https://tokenist.com/ethereum-turns-deflationary-but-drops-7-as-market-stays-uncertain/

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

evichi

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I will attribute the decrease in Ethereum price to the bear market. The bear market is currently on and still very much felt in the crypto space. As at November 7, 2022 the value of Bitcoin was around $20,000 (https://coinmarketcap.com/currencies/bitcoin/), but today the price is around $16,4i3 which is quite significant IMO. within the same time frame Ethereum price fell from around $1,600 (November 7, 2022) to the present price of around $1,208 (https://coinmarketcap.com/currencies/ethereum/). The decrease in Bitcoin price has influence on the Ethreum price and the price of other altcoins. I think that should be a major reason for Ethreum decrease in price.

yazher

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Quote from: Cling18 on November 19, 2022, 11:11:29 AM

We can't expect Ethereum to strike high when the market is still in a bearish situation. There are also lots of events and occurrences that affect the price of Ethereum. Even the global economy is in a bad state so Ethereum alone can't rise and recover. We all know that most altcoins rely on Bitcoin which is also currently at its bearish price. I think it will still take time before Ethereum could recover.

The market is not really looking good and it's obvious that all of the cryptocurrencies in the crypto market are not gaining high despite being all-updated and developed, unlike others. The good thing about it is they still alive and they are staying alive despite this never seen tragedy in the crypto market where people are losing their trust in Centralized Exchanges. Today we are in a good scenario when we see the other exchanges working well and doing their usual activities because of what happened, they are getting hard to acquire new customers, and also this is the same thing for the Ethereum investors as well.

BlackPinker

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The last migration must have had a great impact. In addition, the gas fee of the second-tier network is really low. It is so low that I don’t want to go back to ETH. I think this is also a good thing. This is also an optimization. Although the currency price It fell, but the product is optimized and perfect.

Yatsan

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Quote from: MFahad on November 28, 2022, 10:41:12 AM

Ethereum is second too coins and there should be no worries about Ethereum price. It better to stake it in Coinbase,then you can trade it into cbeth then from there it can be sold for cash or whatever. I recommend keeping it staked though, the returns are alright if you're prepared to just leave it. I'm planning to buy more and keep it staked so at least it's doing something instead of being sat about...

Majority of cryptos' market value are falling at this period due to factors and if you guys are not new in here, you'd worry not much. Part of its volatility are periods of ups and seasons wherein prices are down or struggling to uprise, just as what we are seeing at this point. If you're quite tied at the middle, then holding would be the best thing to do and avoid selling ofcourse. If you are planning to invest on the other hand, this is a good point to buy but don't expect profit in an instant. At this moment, it is still not clear when will bullish trend enter the market. So invest only what you can afford losing(as being mentioned x10 daily in this forum LOL). However if you cannot endure market downs, then wait for the trend line to be clear before you enter.

Topic: Why ETH price keeps decreasing? (Read 1032 times)