Bitcoin Forum

The price of Ethereum, the second largest cryptocurrency by market cap, has made a brief recovery after a terrible week.

It had been hammered all of this week, falling from its two year high of $487 on Wednesday to $316 on Saturday evening. That's a decline of 35% in just three days.

The market fared a little better today. Its price rose to $356, an increase of 12%. It's still a great distance away from its peak of $487 early this week, but traders may feel lucky to not have lost far more.


Speculators may only, er, speculate about why $316 was Ethereum's price floor. Perhaps it had something to do with SushiSwap, the decentralized finance project that stoked fear in the DeFi community after its leader, Chef Nomi, dumped all his tokens on the market yesterday.

Nomi made off with about $14 million, but roughly $1 billion still runs through SushiSwap's protocols. And the whole thing is an experiment in decentralized finance—if SushiSwap collapsed, it would cast doubt on a highly experimental space into which investors have poured $8 billion in the past three months.



Nomi later handed over control of the contracts to the CEO of FTX, Sam Bankman-Fried, who promised to devolve power to the community. The price of a $SUSHI doubled in price shortly after, about the same time that the price of ETH rose.

Bitcoin holds steady
Alongside ETH's rebound, Bitcoin's price held firm. The price of Bitcoin, the largest cryptocurrency by market cap, increased just 0.64% today to its current price of $10,276.

That is a relatively minor price bump. But it's significant for its quiescence: Bitcoin fell from $12,369 earlier this week—its yearly high—to just under $10,000.


In crypto, investors consider Bitcoin's $10,000 price point to be a benchmark for the entire industry, since Bitcoin is the largest cryptocurrency by market cap and has a huge influence on the whole market.

If Bitcoin's price is above $10,000, all's okay. If it's below $10,000, time to panic. Maybe the extra zero is soothing. That Bitcoin is now firmly back above the $10,000 mark may quell anxieties within the crypto community that its bull run is about to end.

Check it here: https://decrypt.co/41017/ethereum-rebounds-as-bitcoin-holds-steady?amp=1

Are you sure that ETH has made brief recovery after terrible week as you mentioned in your thread (and article)? And are you sure this terrible week only caused by sushi chef? Remember, there's still plenty  ETH waiting to liquidate from defi's pools. If that happens, perhaps ETH will more bleeding rather than btc. This stake ETH and the impact when unstake still not mentioned in that article btw.

if Bitcoin can be stuck at support $ 9600 to $ 9900 then altcoins especially Ethereum will also experience recovery again,
but if the Bitcoin price is below $ 9500, we need to be worry

Ethereum is one of the coins with the biggest drop 7 days dropped percentage was -18.8%   compared to Bitcoin's -12% so if you check in the market there's not much improvement on the price of both coins after the drop we are actually waiting for something to happen, and that something hopefully is not about moving downwards.

That needs only a small bump for bitcoin to make ethereum and whole of market will be recovered to the previous rate again. It looks like a small signal toward the recovery is appearing on bitcoin.

We will see whether in the next few days bitcoin can make ethereum and another asset will be going back again to the top position or not. I strongly believe with ethereum as it will be getting another big news from the ethereum 2.0 development progress.

Just hold your ethereum dude.

I will do the same as well. Eth is a very strong alt out there.
So once btc pulls up again, expect that eth will follow thru.
This $10k price for btc is not forever, sooner or later we will see this going up again.
So for me, really have no worries especially with eth.

Yes, we all are hoping it so far. It is very general thinking that if btc pumps then altcoins also follow this trends and all the market going up soon. So following Btc is good enough for market analysis in my thinking. Then we can expect something which can be matched to the market

It is easy to Ethereum to make a rebound now because the DeFi projects are supporting the currency so expect more Hype in price.
But checking the market now Bitcoin also gaining some good amount valuing $10,500 now slowly but surely moving up right?

https://coinmarketcap.com/

ETH is also at 4% gain now with the price of $387 not bad from below 350 yesterday.

Lol for what reason that Bitcoin will seat at that Low?cannot you see the strong Hold at 410k?

and if Bitcoin fell that Bad i'm telling you all altcoin will dump together with Bitcoin.

Bitcoin is moving too.
What I really believe on Ethereum these past few weeks is really got strong bouncing back, even how dump is hard, Ethereum still manage to hold.
Just like what Bitcoin did, past few days, multiple times we dropped below $10,000 but after that, Bitcoin is bouncing back again. Lot of traders liquidated, lol.

Ethereum is looking very strong among all the altcoins. The dump of bitcoins has least effect on Ethereum. I think DeFi has a lot to do in the current price increase of Ethereum.
I am looking for a bull run for Ethereum just like in 2017. Maybe it can touch 1000$ in few months time.

The DeFi could be a really huge effect on Ethereum for fundamental part.
But if we will use the technical analysis on Ethereum, I think Ethereum is just making a good return, remember when Bitcoin dumped on below $4,000 before and Ethereum dumped also below $100? That is extremely huge dumped on Ethereum.
And when we compare the All-time-highs of these two,
Bitcoin is -46.4% from it's all time high, while Ethereum is still -73.3%. So for me, Ethereum is kinda normal for these kind of gains.

This isn't a stressful week, because there is regular price fluctuation. One who has been observing the market closer could've made good profit depending on the capital investment. We can't say bitcoin holds steady, ethereum on the other side bounced back reaching close to $375 and has now fallen back to $350. It is the time to profit out of continued trading than holding for a big profit.

Do you really need to be that stress if there's a drop of price? I think it's all just balance in terms of growth and price drop since this is an open market traders can trade anytime they want. There's always a good time for buying and selling it's not always a one side of the coin. Just take this as a blessing in disguise since you can restack/buyback from this price drop then wait for the market to rise again to sell. Don't worry too much since we aren't in the bull run yet that's why accumulate as much as you can until the bull run happens.

Not all folks would be calming down when they found out that their coins holdings decline at worst price. Though we need to be stabilized, I don't think it's all behind our control because whatever plans made by whales we aren't going to catch it up. That's normal to have emotional breakthrough on this recent situation, and what's important is you develop a good learning strategy before possible bullrun would commence.

Are you a day active trader or a long term one? If you do actively trade then better sell it out when you are already on greens.Trends or price increase doesnt really hold up that much

but somehow movement doesnt really rely on any sentiments in the market.It can shoot up or dump unexpectedly.Also, always think that price of bitcoin and altcoin doesnt correlate from time to time.

It may oppose or would tag along thats why it would really needed up some fast price action on your part if you do like to make gain with it.

They were just expecting too much that's why it happens if they were really into the market just for the sake of profit then why sleep when you can look at the market just to make sure you will get a profit? Although, the doesn't work that way it is very unpredictable no matter what we do that's why if you see the green already just dump it down and wait for the buyback.

Is anyone actively following the price action on bitcoin lately? Since the decline from ~ $12K levels, everyone was so sure that the CME gap at $9.6K would get filled. After Bitcoin stabilized for about a week above $10K, Its now testing new resistance levels and filled the other gap at $10.6K. Suddenly, Everyone is no longer bearish and turned bullish.

Anybody thinks we would have a leg down below $10K anytime soon? Would appreciate a response from either a technical or fundamental standpoint. What about Alts?

Bitcoin can still hold the 10k support and is it a big down that happened with bitcoin? you should watch the market again and so many scam defi is also giving a very big impact on the market too. The fall back that happened with ethereum is just temporary and it's starting to go up again.

A pump that will happen for bitcoin must be driven by the very good news that builds a fundamental that will create big support in the market.
You should not worry about that as there is a bunch of good news have already come for sure.

Ethereum has already broken the $370 resistance and this trend looks very bullish.

With bitcoin bouncing back and moving above 10750$ today it is a good sign that bounce back seems to be on the cards. Thus, with the rise of btc prices, ETH has started to also move upwards and seeing them at 375$ approx which has risen by 3% in last 24 hours. So if btc can cross 11k then we may also see ETH inching close to 400$ mark back again.

This is the longest hold of the Ethereum on its price since last 2018 where it fell right after it reaches a higher mark price at that time. Now that it holds almost 100% than its last price, the chances of getting that price again are higher than last year. what I mean is, it could reach up to $800 again if they can just manage to fix the transaction fees issue which is the main reason for the annoyance of most of the Ethereum network users. the transaction fees itself will make the trader lose his hair because as we are talking right now, it's making a new record for the highest transaction fees of ETH even at the minimum rate.

Damn! this rates are not funny, my friend:

https://ethgasstation.info/

https://i.ibb.co/C9Btn5N/Screenshot-1.jpg

nothing seems appealing to ethereum Ethereum prices are very difficult to climb high and the movements in the market just make me sick, i don't know when ethereum is back up again especially with the high cost of GAS a lot of people run, using the ethereum platform and it will have a negative impact on ethereum

It same goes with bitcoin and if you see the price for the past couple of months you can see the price really stretch up at this moment, although we got some several bad dumps but still the price of ethereum is bit ok by now. It has a good movement for day tradings and we can earn with it so I still see ethereum as worthy and a good option to trade.

We must be optimistic if we see the increase in the price of Bitcoin today, imagine a few days ago Bitcoin was only at a price of $ 10,300.
And now Bitcoin has gone up to $ 10,700. A rise in Bitcoin of around $ 400 is a good sign, usually followed by a rise in altcoins. So I believe
Ethereum will be able to return to $ 400 this week.

many possibilities could occur because there is still a long time for bitcoin to move to go up, so several times bitcoin has increased and fell again. but that will not make bitcoin will lose confidence to rise again only there is still a long time to go to the end of this year. all altcoins will also experience the same as with bitcoin and ethereum is no exception.

if bitcoin returns to go back to $ 12K then you can bet ethereum will also increase and $ 400 can easily be reached. Everything now depends on bitcoin and it doesn't look like there is a good and independent move from altcoin, it all depends on bitcoin.

The Trend seems like turning back into Bitcoin because since yesterday Bitcoin is staying green While ethereum is still Bloody

https://coinmarketcap.com/

Anyway does the DeFi projects still Kicking good?or starting to fade and reveal whats the true behind the Hype?

Pollkadot is less bad than ChainLink though Both of them are reddish Yet LINK is now down at %10 and from 19$ now sitting at $10 and still dropping.

So wondering whats the Sentiments of those Who believe on these currencies?

This is expected ever since some whales moved their ETH to exchange site according the information provided by whales alert in the below links and it could intentionally to sell the ETH to buy BTC during the dump
https://whale-alert.io/transaction/ethereum/0cd04823e63ce5a2258585567eda444ae26449c66df636d70fa5f675cd5f9989
https://whale-alert.io/transaction/ethereum/7bd542511a496a05e4cf808fd0fa1d65e28db723281f1721c2149d1f88bb4323

It will be next year before the hype about Defi project will end and it can even be more if the project owners are able to manipulate the market. However, I believe the whales are also behind the dump in price the two projects because they are the major player now.

Currently the whole crypto market seems bearish other than bitcoin, there is an appreciable gain on Bitcoin's price in the last 24 hours and on the move of reaching $11k, which shows those Hype of Defi is getting over and people started to move their funds to better coins.

ETH's recent rise has been caused by two things, expectation of the move to 2.0, and a lot of FOMO about DeFi. The key contributor to price volatility here is the FOMO. It's reminiscent of the ICO craze of 2017. Whilst this does mean that prices can rise dramatically, it also means that any negative DeFi news can cause a dramatic drop, too. That's what's happened here. Long-term, ETH still looks great, and DeFi certainly has a lot of potential. But we must remember that sudden large price increases are often followed by equally dramatic pullbacks.

Bitcoin can't increase higher, but it is at the sideways trend. We hope that will not stay like that too long, but there is a chance to see the bitcoin price will be like that for the rest of this week. Meanwhile, the altcoin is getting down too, and some of the altcoins drop deeper. The Defi tokens seem to follow the bearish trend because I see yfi and yfii are getting down. But we don't know if the Defi trend will be over soon or continue the uptrend, but we will see it later.

We can hope that the crypto market will be back to the higher price, and I am sure that soon, bitcoin price itself will break $11k because we almost see that price.

Well thats how it goes, crypto is high volatile so its normal seeing the price fluctuates. Its better to manage your expectation, we cant assume that the price will continuously increase because it can go down in snap. Nevertheless eth can reach $500 value, who knows it might happen before this year end, nothing is impossible since eth is one of the good coin in the market.

Regarding any expectation of large upwards price movement in ETH or any other big coin... I think the biggest driver of prices in the near future will come from outside crypto. The pandemic is still raging, and the economic effects of the lockdown are not yet really being felt... that is all to come. Add to this that we are heading towards northern hemisphere winter, when the expectation is that cases will surge again, and new periods of lockdown cannot be ruled out. When the wider economy suffers, often the first thing people do is to lessen their exposure to risky assets - and crypto certainly falls into that category. I wouldn't be surprised if the coming economic stresses trigger some significant downwards price pressure in crypto.

I agree, Bitcoin really is making all other coins or cryptos bounce up or down. All we can do is to pray for the whales to invest more and withdraw less. Being volatile in price, we can just either wait for it to pump hard so we can make profits or just dump and hold the coins we have until its pump again. Altcoins will always do great when top coins will stay pumping.

are you Joking?ethereum price climbs Up from almost 200$ to almost 500$ in just a 2 weeks time so how come that ETH price is difficult to Climb high?

And also in 2018 ETH starts the Altcoin season By climbing more than $1,400 before other alts starts to rise as well.

Let's just wait, bro, I'm sure ethereum will never be bad even though the current high transaction costs will greatly affect interest, especially for beginner investors, they will definitely think first, but we need to think positively because behind all this there is a team who of course must be thinking about restore the situation for the better.

   Bitcoin is rising too, take a look for yourself! All alt-coins follow Bitcoin price changes, but it's not literally like that!
Alt-coins follow when it comes to big changes in price, when we have big rises and drops. On every day fluctuation we
can't have the same look. Ethereum made few extra points, but that doesn't mean much, people have that habit to make
something from nothing. Don't consider a couple of days as perimeter, take a month or half of the year and you will get what
I mean.

maybe he wasnt updated and he was stuck on what he sees on the past in regards to eth performance but previously eth has changed  . its price pumped noticeably compare to other coins  .  this is consider as appealing to me but i dont know about him if he isnt convinced with that yet  . the 2018 remarkable event for eth is an old story and we can just disregard it because the topic here is about the recent achievement of eth   . only the transaction fee of eth is a turn off but thatl soon be patch or people will get the hang of it if isnt   .

There is nothing to worry about the hard downward movement that we've seen in Ethereum and Bitcoin in the past weeks. There was a bull run but sensing that the price has already climbed higher, those who were able to buy earlier must have though it best to dump while the rising continues. They have surely made a profit already. That must be one huge dump because the price was really falling down very quickly.

But it does not stop the bull run. We are still in the bull run sentiment. Ethereum will be back at $400 soon and BTC at $12k.

Bitcoin is the big coin in this crypto market it's proven to all and the whole market coins price level might depends on it and when the price of bitcoin raised then others also been effect much and they might pump as well. Recently bitcoin reached at 12k+ that price is highest price in this year and Ethereum as well been passed 500$ it's price level though the both coins price level goes down and again and there is a possibility of raising the Ethereum where v2.0 will introduce very soon and defi project also might be contribute to raise the price for ETH. Let's see what happen actually.

Over the past 24 hours, Ethereum has shown very good results (3%), which even outperform bitcoin (-2%). I believe that this is primarily due to the statement of the developers, who set the next date for the Ethereum 2.0 update for November. Raoul Jordan, who is the Ethereum 2.0 developer at Prysmatic Lab, said November could look very good to launch an update from his point of view.

They have made so many announcements about this that I doubt their statements have any effect on the market anymore, the decrease in the price of ethereum we saw some weeks ago had everything to do with the DeFi hype losing strength and the recovery follows the same reasons, however I do not think we are going to see ethereum reaching the 500 dollar mark as people want it, the hype despite going through a recovery is decreasing in intensity as new DeFi scams come every day and put fear in the hearts of investors all over the world.

If we look at the market these days, it is very clear that the Ethereum price starts to creep up, after the Bitcoin price stabilized
at the price of $ 10,900- $ 11,000. It's even surprising that today's Ethereum price rose 7.25% to $ 393. This increase has made
investors increasingly interested in investing in Ethereum. Based on my prediction next week Ethereum will rise above $ 400 again.

We all know bitcoin have a market leading position than any other coins all are been depends on this coin's price level when it's been high the other coins also been higher this way and the market also been pumped when it's been pumped itself and recently this happen few times back and though the price been little bit dropped and other coins as well. Recently the Ethereum has declared their v2.0 and also they have involved the defi project the 2 main reason of this coin might get a good bump very soon. Let's see what happen!

Invest on ETH is always good as i think. I am trading from 2017 and i seen there was a lots of pump and dump of coins with BTC and alt coins. So, ETH always profitable if you buy at lower price and hold for few days and when pump then sold it. But it's my perceptions everyone have their own do it at your own risk! Good luck!

Ethereum is getting more engaged in some marketing advantages. 15% of ethereum is locked in Defi and the volume of ethereum trade daily is still high. It is so disappointing that the high transaction fee n Ethereum platforms still remain high and never affect the transaction volume. I realize that the profit from Defi cause to over look on the high transaction fee. By November ETH 2.0 will be out and it is capable of another spike that will push the price towards $1000.

The market of ethereum seems to move within $400 for a long after falling back from the price around $450. This doesn't look to be re-bounce in its value. Following the market movement of bitcoin there is changes with ethereum.

For all the market growth expectation for the year, what ethereum has reached is simply very small. Atleast it could've touched the $500 by now, and more defi tokens being successful and growing through the ethereum platform hasn't made any positive move on the market of ethereum so far.

 I believe they are both equally down right now and things are not looking like they are going to change any time soon neither. I mean looking at the price right now it is 10.4k for bitcoin and 340 for ethereum which says they are both very down and should be recovering or it would really go a lot more worse. I mean it is of course good that they are both down at the same time, if one was down while crypto market was up that would be bad but since everything moves down together that at least means market is not doing well at the moment.

 Obviously we would like to fix that as soon as we can, don't know how long it will take, don't know when the recovery will happen but as long as it happens I will be fine with price of 12k+ for bitcoin and 450+ for ethereum (and all the other crypto similarly up).

Both coin were held now at a support zone at $10200+ for bitcoin and $330 for ethereum after the dropped I hope the price recovers from those zones, presently there is rejection unfolding from those zones whether the price will dip down again or pump again remains unknown.
I hope the price reached $11000 first for bitcoin thereafter the next resistance at is $12K that should be the next target while ETH next target should be $388+ after breaking that resistance first before $450.

Volatility is back it seems. 3 weeks ago ETH was at $480 and now yesterday it was as high was $390 and then past 24 hours it is even $330. A lot of scalpers making money, and a lot losing I expect. End of the day miners are enjoying it all as they are reaping all the fees,,, bubble not yet bursting it seems.

It seems that people do not want this DeFi bubble to end and while this is understandable at the same time it is inevitable, the excitement over the technology is fine but they have took it too far and now that scammers have seen their opportunity and more and more people are being disappointed with the results they have gotten, as such it is impossible the bubble continues for long, but what do I know? After all as Keynes said:

The same pattern will always be repeated anytime and what you are saying totally make sense. When people bought ethereum yesterday and they have got 10% profit from their investment and that means if when the bearish trend will come in the next time and people should always be prepared for that and load more ethereum.

The bitcoin can sustain above 10k and that means it's impossible for the dump to happen even dipper than this time.
All of the trend in altcoins depend on bitcoin and how big the dump will be determined by the bitcoin.