Bitcoin Forum

#ETH had a strong price increase in Q1 2024, prices have now completed a correction and are ready to return to gain higher. The new opportunity at the current price
🟢This is a sign calling for a continous upside to pass $5.000
Current $ETH: 2980 🚀

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This year ETH is losing its market share to Solana. Go on ether scan and look at the fees, they are like 4-5 gwei, even during the week. When was the last time that gas was this low on ETH? Probably since 2019.

Many switched over to Solana because the fees are very cheap and it’s very fast to transact on their network. Many started to trade meme coins on Solana because it costs less than a penny to swap compared to Ethereum and it’s $50 swap fees.

The current price movement of ETH is still not much different or tends to follow the price movement of BTC. if you are talking about an impending pump on ETH, perhaps it will have to wait for a response from BTC price growth first.

Ethereum has problems regarding transaction fees. they can be very high and then gradually become very cheap. It is very likely that when the price of ETH is very expensive and transactions become increasingly busy, the fees will become even higher. that's what happens time and time again on this network.
I would be happy if the price wasn't expensive and the transaction was normal. that makes the fees less excruciating.

This would make Solana the long-awaited ethereum-killer ;)

Above all, it will be exciting to see how the SEC now decides on the approval of the Ethereum ETFs and whether Ethereum, ADA and SOL will actually be classified as securities. If this is the case, the price of the coins concerned will initially fall very sharply and will probably not recover for some time.

The increase in ETH prices certainly has reasons if we look at the conditions of the ETH market itself and is also influenced by price improvements on the Bitcoin side, which has made ETH continue to follow this path at the beginning of this year. If you often pay attention to the price movements of Bitcoin, you will probably also see how ETH is increasing in the market so that people who have collected ETH before the price increased, will definitely feel very deep satisfaction. And if you like trading, ETH is also quite suitable for that.

BTC and ETH are almost correlated because when there is a pump started by Bitcoin, Ethereum will follow the response, this is not a big difference even to $5000 when bullish comes maybe I can say that it is still possible to achieve ETH prices.

Now Ethereum transaction fees are cheaper just now checking GWEI only 5 is this due to the influence of the price being down? I think when the Ethereum price was in the range of $2000s gwei was still quite high, but don't know behind it all is their development now quite successful?

But honestly, with this low gwei, it's easier for me to transact on the Ethereum network to bridge, at least it's not too expensive which can reach $30 more for fees.

Yes, there is truth in what you say, and now that we are currently going through a correction in the short term, I can say that we are bearish. But overall, it is still bullish on the long-term issue.

Now, on the ETH topic, if we talk about its ETF on May 23 and whether it will be approved, I think the chances of the approval happening are decreasing because Grayscale has already backed out as far as I know in submitting the application to Ethereum regarding its ETF spot, and this is not good news for others. For others, they are still looking at it positively, and for whatever reason they have, I don't know.

I must also admit and agree that Solana will be a force to be reckoned with during the year, it will outperform what BNB has shown during the 2021 bull season. But to be able to become an ETH destroyer, there is still a long way to go because just relying on fast speed and cheap transaction fees is not enough to convince large investors, they care about security issues more than the other two factors.

ETH ETF not being approved was not a surprise to the market and dumping was inevitable. But everything will be nothing once the bull season comes because when the entire market is pumped with money and potential coins like ETH, Sol will have impressive increases, even more than BTC which is normal.

Personally, this year I will only focus on the Solana ecosystem to find hidden gems instead of focusing on ETH or BNB like every year.

Personally, trading this year is not only good for trading against BTC and ETH. My experience and what I have done in crypto trading are several other types of crypto that have good opportunities and value for trading and can produce good profits.
for example: BCH, BNB these two types of crypto also provide good trading value in this period.

Of course BTC and ETH stand in 1st position, but the two types of crypto that I mentioned above have not lost in trading either, a lot of money has been won by traders, in essence short-term trading is the best solution to do in the crypto market.

The value of Ethereum increased against the dollar and stable currencies, but not against Bitcoin and Solana, as Solana took a lot of Ethereum’s market share, and with the presence of competitors in the second tier such as MATIC and POS alternatives, I do not think that the value of Ethereum will increase in the future, or at least against the value of Bitcoin and Solana.
The only thing that might push the price higher is the acceptance of an ETF, but that may not happen soon.

Important Note for serious traders!
Dont guess for the price up or down
If you are real investor who use hard earned money to invest, the only working method is INDEX.
Index is the method using capitalization of the market to caculate the allocation for the porfolio.
Today, the weight of BTC is around up to 70% and ETH is around 25% and the left is for the top altcoin.
So, focus on the allocation, donr try to forecast.
When the allocation is changed, adaption to the new weight.

Yes, BSC and SOL have become very popular due to the high fees of the ETH chain. however, ETH is far ahead of SOL in terms of coin price and marketcap. High fees of ETH may cause problems in erc20 token transactions, but considering the investment aspect, ETH is much stronger and profitable than SOL and BNB. In terms of trading btc and ETH are many secure coins if anyone can analyze their charts well then good amount of earning is possible from here.

BTC and ETH are similar to me when it comes to the way common people think before investing or making any transactions as both looks like they may give return but not to the extend which other altcoins are capable of but it's not gonna die and they are big no when it comes to minor transactions as transaction fee will eat up more than what we want to transfer hence people are using alternatives. I guess both are good for long term and they are secure but a big no for using it as P2P transfer.

SOL definitely has some power but I do not think that it is good enough to take over ETH all that easily. Maybe NBNB, because taking over that is not looking like that big of a deal.  I understand that it is not that easy and sometimes it takes time to make sure that you know what you are doing, sometimes things are a little different and things do not look all that easy to handle, but we should realize that we can't make that much money all that easily.

We need to realize that ETH is huge, and taking over that second place would require a lot, look at how big BNB got during 2021 and you will realize that even that didn't help BNB get any closer this is why I believe that SOL could maybe be third if they do well but never second because I think ETH will stay there.

I have noticed that ETH move in the same manner and pattern what BTC follows. Hence if you are following any particular strategy for trading Bitcoins, the similar strategy can be used for ETH also. Definitely the first quarter was impressive for all the Bitcoins and ETH lover, now as Bitcoins have fell a bit, the growth of ETH is also paused. So yes if we do good predictions then we can definitely make good profits from trading ETH and Bitcoins.

Okay, since we're just going to speculate, here's my bias:

The next couple of months is going to be huge for Ethereum as EigenLayer — one of the biggest innovations in Ethereum becomes tradable. Aside that, there's a couple of big things coming as well in form of EIPs that will fine-tune the protocol. I personally think it is +Ve to just buy some ETH and then stake for the APY? There's an opportunity to hedge with prep but I'm a permabull for ETH so I'm always long regardless.

I believe that ETH will reach $5k soon but when?

I agree, it's been gaining the momentum but it's still not enough. Although there's a chance that it may overtake it but I guess that the rich knows how to play smartly and they're staying to Ethereum's POS to make themselves richer and that remains to the market cap of ETH.
SOL is already in the top 5 and IIRC, it did overtake somehow in top 4 right?

As a trader, the time frame in which you trade is short and limited and in a daily or weekly range at the latest. Relying on the sizes of cryptocurrencies or the capacity of the market will not be of much benefit, as it is impossible for this percentage to change within the trader’s time frame.
The trader focuses on support and resistance points and expected demand more than the general trend or INDEX.

Although Solana is getting a lot of hype in the current market Ethereum is still the leader in altcoins. I haven't seen any news that would have created a demand for Ethereum but there can a negative news that might stall the price pump. There are speculations that Ethereum ETF will not get approved by May. If it had got approved then we could have seen a price push. Currently Ethereum is following the same pattern as Bitcoin and I don't foresee a big change in its price by the year end.

there are some risk of ETF getting disapproved that could further put the current price of eth at danger of decline though, so i will wait on that first before making decision even though i'm pretty sure by the time news out its probably already too late to invest in ETH but it does make sense to wait until the ETF news comes out then make decision after that.
since bitcoin is still bullish i'm pretty sure that even if ethereum ETF looking grim there's big fat chance the price gonna hold up and everything gonna be all rgiht.
until then its matter of waiting until bitcoin have the rally we've been waiting for so long already to help ETH climbs up while we can buy the dips probably sub $3k.
even though that scenario might not play out but there's always chance however if ETF looking great for ETH, then people are gonna be making profit.
since its first altcoin ever to get ETF.

Many people expect the ETH spot to be approved immediately. It seems that recently someone said that the chances that the Etf spot will be approved in Ethereum are 70% immediately.

But just last week, it seems that the wind suddenly changed because the grayscale support there also suddenly changed, according to the articles I read.

source: https://www.cnbc.com/2024/05/08/grayscales-application-for-ethereum-futures-etf-withdrawn-.html

But of course if ever Ethereum will not pass on etf spot it doesn't mean the price will not going to go up, it is still unpredictable and we don't know what's gonna be the next move on this situation anyway, right?

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This is important signal for a new altcoin season. Plus, positive for both btc and all alt-coins bros.

Always said ETF is sort of meaningless to me. You want ETH you just go buy it. It might actually make sense for Bitcoin with limited supply and less and less new coins coming out but ETH staking while has a theoretical cap essentially means there's always ETH if you need some.

But tokenomics aside, the proof is in ATH. Bitcoin hit a new one. I can't think of any other alt which was around since 2017 that hit a new ATH. To me that says a lot.

It is too early to say that the correction has ended and this is clearly visible on the ETHUSDT chart. And the fact that the ETH price is currently trading below the trend line indicates that we may still see a deeper correction. But you are right that ETH has a very good potential to reach ATH.

The problem is not only that, but even after Bitcoin gains sufficient momentum, a correction occurs in the price, and since the price of Solana differed greatly from most altcoins and increased by a large percentage compared to Bitcoin, it will have a unique correction that is different from the rest of the altcoins, so investing now is not a wise policy unless you believe that The current price is unfair and Solana is being sold for less than its value.

I think, Ethereum was among the altcoins that helped traders to achieved a huge amount of income early this year before the price of Ethereum begin to reducing to this current price, which many traders are using to purchase Ethereum and hold for another bullish season that is about to happen before the end of this year.  I don't think the journey of Ethereum was bad, because the price increased to $4000 to break into a new ATH which there are some altcoins never increase higher this season, but there is a hope those altcoins will increase along side with Ethereum in the next bullish season.  Bitcoin really perform well in this season to allowed traders to achieved massive income from their trading, because it was a great opportunity for Bitcoin traders not to miss the new ATH in the market which is the target of many traders to earn income.

I agree sir, even ethreum was reduced in price from the impact of the correction of around 400$ / ethreum even though it is still around the halving season this month, indeed the price of ethreum is not half that of bitcoin, but I think it is cheap because ethreum recovery is quite fast. In contrast to solana which in my opinion is more stable and in my opinion also prefers ethreum. To add to the portfolio Indeed solana is suitable after prioritising ethereum, the dependence of the usual bitcoin rely on altcoin rallies cannot let what happens, including when dumb or large pumps they participate. Although solana has experienced a prolonged bearish but the existence of solana can also be considered so far because my daily life also sometimes requires.

ETH being considered in trouble because of the competition that it has, is a great thing for the crypto world, because while ETH itself is still going up, other things are going up as well, which makes it even better. I am not saying that we are going to see ETH going down, I think that will continue to go up, we just going ot have a situation where everything else goes up as well.

The wealth will be shared basically and that would be the most important part of it all. That doesn't mean that we are going to see something out of that, it should be noted that we are going to see crypto in general get a benefit from this ETF situation as well, it would benefit not just ETH but also the whole crypto world in the end.

Ethereum has many competitors who are trying to beat the Ethereum network by creating new networks that have cheaper transaction fees, very high transaction speeds and also quite good security. BNB and Solana pose a very serious threat to the future of Ethereum.

@BTC now completed a correction and are ready to return to gain higher.
🟢 Trend: Bullish 🚀
🟢 Support: 60.000
🟢 Target: 100.000

// Fundamental news support the Uptrend //
_______________________

- A weaker dollar and lower Treasury yields, after latest US CPI data indicated a slowdown, strengthening expectations of an interest rate cut by the Federal Reserve.
- Investors are now pricing in around a 75% chance of a Fed rate reduction in September and 85% for November.
- Lower interest rates boost the Stock, Crypto, Gold market

#BTC

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Yet some people don't see it that way especially the ETH fanboys out there that still believes ETH will replace bitcoin. I definitely that it's a good thing because with the way that bitcoin is going which is to the moon and beyond, the variety of potential crypto to invest from is just one way to make sure that the power isn't consolidated or anything like that, plus we can always have the narrative of cryptocurrency making random people into millionaires if not wealthy with more cryptocurrency that's got a potential that keeps on pumping out .

I'm waiting for that to settle at 5k, meanwhile my asset still remain same quantity as expenses became so tight right now. No other options could help me but use my existing eth holdings, just to convert it to fiat. With a strong dedication and self control, I was able to do budgeting on my tradings. Once I dump everything, possibly I will be drained without an alternative funds.

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Bull in progressing ....
Waiting for something boost.

Good! ETH Spot is approved. :-*

🥇 BullRun will likely be completed in Q4 2024 - Q1 2025.
History of previous seasons, after breaking the previous record peak, the time continued to extend:
-------------------------
2013 : 8 months
2017 : 8 months
2020 : 5 months
2024 : 5-8 months
-------------------------
In 5-8 months from now, the new record peak could be in Q4 24 - Q1 25.
The next 5-8 months will be the period taking profit 🚀