Why ETH price keeps decreasing? - page 4.

Oasisman

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Quote from: ?? on ??

It pumped last month because of the merge and now it's hovering because the momentum has been moved to other assets in my opinion and of course not just ETH not moving so well, bitcoin as well. It's just matter time that we see ETH to recover again hence we are still in bear market season. So it's expected for the price to remain stable, for now.

Nah, I don't think the merge has made a noticeable effect on ETH price. It seems like there are no good improvements/innovation that could be impactful enough to change the course of the whole crypto market these days, especially during the surging inflation and economic problem that we're currently facing globally.

It would be most likely that the crypto market would recover late in 2023 or early 2024 or even after the Bitcoin halving.

lobo13hf

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ethreum needs some tweaking of what happens to it during the merge. We may not feel it when the merges complete immediately, but in the next few days we've seen ethereum drop even deeper since then. This sometimes makes me doubt that merge brings better changes.

The drop has been triggered by bitcoin and people were also selling for the news. The crisis has been making situation in crypto become even worst. Everything was dropping so hard without any chance to recover. Im thinking about we will have a hard time to come very soon.
I hope that if people will be also aware about this if there will be no pump until next year when crisis will be slowly getting fixed

KaliLinux

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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/

I don't think even with that, the Ethereum price will suddenly go against the market trend. The general market sentiment is in a bear trajectory now and the Ethereum price will follow the same pattern.

Quote from: ?? on ??

It pumped last month because of the merge and now it's hovering because the momentum has been moved to other assets in my opinion and of course not just ETH not moving so well, bitcoin as well. It's just matter time that we see ETH to recover again hence we are still in bear market season. So it's expected for the price to remain stable, for now.

Are you saying that Eth merge was the reason the general market pumped a bit last month taking BTC and other major Alts along with it?
Just look at the price chart between July 12, to Aug 16 2022 which I believe you are referring to, the effect of the ETh marge couldn't have affected every major crypto in that same time period upward before it dropped again. I still say it was the general market trend and not the marge effect but I think the ETH price might have a good boost when the market trend changes, (Next Bull market.)

cheezcarls

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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/

Just like what I have assessed, ETH's merge news will only increase the price temporarily before it got corrected once again. As what others have mentioned here, the crypto market seems to be quiet due to the ongoing bearish trend.

Right now we are sitting between $1,200+ to $1,300+ on ETH price. As long there is nothing new that would definitely hype the entire crypto market, expect that this would be a very long bear market.

wxa7115

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I think this has something to do with yesterday's merge. We will feel the impact now, it is also supported by the current state of the red market. But don't worry I think, ethereum already has a big name, they will definitely recover easily in the near future.

The bearish market is the cause of many altcoins including ETH also continuing to decline, this is a tough challenge for us, if we don't really need money then I suggest to continue buying ETH, I believe the huge potential of ETH in the future is very good.

The global economic condition has been affecting the blockchain market negatively so most cryptocurrencies even Bitcoin are dropping drastically. We already know the potential of Ethereum to reach a good price so the price drop isn't something to feel bothered about. I'm sure that when the global crisis gets better, the blockchain market would also recover so accumulating Ethereum and other potential altcoins this time would be the best decision that we can do. We must take advantage of the situation rather than worry about the bearish prices of altcoins.

One of the great things about this market is that we could see a recovery whether the economy recovers or it begins to do even worse.

It is easy to see how this would be the case when the economy recovers as people will be more willing to take risks and invest once again in this market, but even if the economy began to go down this market still has a chance of doing great, as during those circumstances many people will lose faith on the ability of the governments of solving the crisis and they will see in this market a bunch of assets that are not completely controlled by the governments and that will make them attractive at the time.

samuraijin

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Quote from: ningrum on October 16, 2022, 04:55:43 AM

Quote from: ?? on ??

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

The bear market still haunts all crypto markets, plus the world economy is getting worse, not to mention the inflation that has occurred in the past few months even today, the impact of the war between Russia and Ukraine continues, so that's why all the world economy and the crypto economy too affected by the recession that is happening all over the world, the thing to do is survive this recession, if you have money then it is very good for us to buy it when prices fall, so that we are not affected by the global recession that we are feeling today...

lobo13hf

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There are two possibilities in my opinion. The first possibility is because the altcoin market is indeed falling, considering that altcoins are still in a bear market. The second possibility is that ethereum is still adjusting to its new POS system, some people may need to adapt to this including the price of ethereum itself.

There's no need to adapt with POS caused by it was to fix the unlimited supply of ethereum in the past. POS gives more advantage compared with POW but POW is the truly decentralized consensus but miners were destroying it through their collusion. The bearish market is always become the main reason why the price of ethereum has been dropping a lot. it can be seen from small impact from merge to the price of ethereum.

d3nz

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Quote from: ningrum on October 16, 2022, 04:55:43 AM

Quote from: ?? on ??

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

There are a lot of reasons why the value of ETH is plummeting, it could be the latest updates recently about the merge or going along with the value of BTC. The only good thing that we are on a bear market, we can hoard more altcoins and BTC while the value is really on the dip.

It would be much better to only check for the real news not the FUD one before making any move regarding the market, or with your instinct if you think the market will go up or down.

ningrum

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Quote from: ?? on ??

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

Uzairjutt275

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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/

In my experience ETH price will be decrease due to bearish market. Crypto Market dump continue from previous month. So the price of Bitcoin will also be dump. I think almost all altcoins will follow the price of BTC. So ETH price will be decrease due BTC is dump.

piebeyb

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don't we all know that we are in a bear market and keep trying to make the crypto market recover, no new money is coming into crypto and maybe not many new investors are coming to invest here, that's why the price of ETH is not going up as well as bitcoin with mining block reward income is low but the price remains in the $20k area which in my opinion is still fairly cheap, everyone is just speculating and analyzing from what you read out there but keep in mind that we need more time to recover this crypto market, about 1 or 2 more years so buy it now while it's cheap

Ziskinberg

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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.

What you have missed is that you never check the status of the market. We're in the bear season, all crypto prices went down and even Bitcoin has no excuse. You never be surprised and ask yourselves why because at the moment that Bitcoin will dump, ETH and the rest of crypto followed. Well, I'm not sure if you often check the market chart or in https://coinmarketcap.com/ as certainly you will see what really happens now. In fact, the dump started in the first quarter of this year, perhaps you can see on the marker history.

bounceback

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

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?

I think it's only natural that the price of Ethereum coin does not increase in price even though it has recently reduced supply because at this time we are still in a bear market which makes many investors panic in the market and they decide not to rush to invest their funds in times like this , so it's not surprising to see when the bear market comes, many coins experience a decline in price even though basically these coins are very promising for the long term.

blue_hurricanger

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Mainly it got overhyped and overpriced from The Merge event. ETH went as low as $800 back when BTC was @$17k and came back to double of that $800 once The Merge come near. You had to see how much it was increased compared to BTC or other alts to know why its price decreased so much and it'll keep on the decline. Yes, the Merge gave it a strong push and now it has to come back to around sub $1000 after it ended. Maybe a bit more since the PoW miners can't issue ETH anymore but that's it. Not to mention about recession loom large which alts usually bleed harder than BTC.

irhact

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

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.

That's just one of the signs that you're in a bear market, during this times nothing matters. Even the goodnews that were might the pump your project gives the opposite result. Everyone is scared and are pulling their money out daily because the market keep dipping. When you'll start benefiting from all the development that came to your project in the near market is when the bulls are back. Every goodnews in this time of the market is seen as an opportunity to pull some money out which is why even when a coins wants to pump, it can't keep up the strength as the amount of money leaving the project is more than coming in.
Ethereum is a good project so the short term price decrease shoudn't scare you as in the long run you'll stand to benefit from investing in it. After Bitcoin, Ethereum is the only other project that one can trust in as it's the backbone of other tokens as they rely on her blockchain to function.

Oneandpure

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Ethereum marge have completed on not the right moment trough bear market and Bitcoin price still drop and Ethereum have allowed with Bitcoin price keep going drop. Current condition market not support with Ethereum although have success merge and keep not effect to make price keep going up. Have difference reality and price if Ethereum merge considering Bitcoin at higher price and market condition support make ethereum reach higher price.

Another failure why Ethereum still down although have merge because CPI update not give positive side, last time update from CPI all market have bearish and Bitcoin drop drastically almost at $18,000 before last days going up to $19,000 and Ethereum down under $1,200.

Yogee

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What goes up must come down. It's been pumped prior to the merge so it's only a natural thing to slow down after it happened. Another thing is that the global market is down and it affects almost everything. Have you seen how traditional investments and bitcoin reacted to the latest CPI report?

erep

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Quote from: TimeTeller on October 14, 2022, 05:46:12 PM

And because btc is still in the seemingly bearish position, it can't continuously increase its price also.
Remember, even eth market is also following the trend of btc up until now.
So the eth's price won't skyrocket its price as most holders are expecting after the merge.

When the bear market does not support price increases, ethereum marge and even Constantinople also do not experience price increases as expected, then we must take advantage of current conditions to increase our portfolio assets because ETH coins are very potential for long-term investment, we only need to wait a few months for the phase recovery and will be ready to enter a new bullish phase.

TimeTeller

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Quote from: adzino on October 14, 2022, 05:42:32 PM

Zoom out and look at the chart. Look at the price before the merge and after the merge. Before the merge, people kept on buying the coin with the hope of making some quick profit. This made the price go up a lot within short period of time. As soon as the merge took place, those who bought early, started to sell their ETH to take all the profits. Hence the price of ETH started to fall and a correction took place.

Quote from: jossiel on October 13, 2022, 01:48:57 PM

It's because of the trend.

Bitcoin is still the reason why it hasn't move that much even after the merge and from being pow to pos. And as the CPI report has came out, there's still another reason why it wouldn't go up.

Well, it's going to be a matter of time again until we see it move. This verifies that we're in a bear market and it could stay in there for quite a while.

It did move a lot after the merge. But in the opposite direction.

And because btc is still in the seemingly bearish position, eth can't continuously increase its price also.
Remember, even eth market is also following the trend of btc up until now.
So the eth's price won't skyrocket its price as most holders are expecting after the merge.
Maybe, once btc is out of the 20k level and starts going up, ETH should follow thru the trend.
But in my opinion, eth holders should not panic or worry, because eth is one of the valuable projects in this market.
They may not see the increase today, but definitely, it won't disappear and it is only keeping up with the btc market performance.

adzino

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Zoom out and look at the chart. Look at the price before the merge and after the merge. Before the merge, people kept on buying the coin with the hope of making some quick profit. This made the price go up a lot within short period of time. As soon as the merge took place, those who bought early, started to sell their ETH to take all the profits. Hence the price of ETH started to fall and a correction took place.

Quote from: jossiel on October 13, 2022, 01:48:57 PM

It's because of the trend.

Bitcoin is still the reason why it hasn't move that much even after the merge and from being pow to pos. And as the CPI report has came out, there's still another reason why it wouldn't go up.

Well, it's going to be a matter of time again until we see it move. This verifies that we're in a bear market and it could stay in there for quite a while.

It did move a lot after the merge. But in the opposite direction.

Topic: Why ETH price keeps decreasing? - page 4. (Read 1032 times)