Why the Ethereum Price is dramatically reducing ?

[dpui98]

As much as I hate to see, current crypto is still very much depending on BTC...

Hope that one day we can shift away from this as BTC is controlled by whales

[Ociwiw]

The prices of Etherium are dependent on the founder of the crypto coin-bitcoin, but it is obvious that not small stocks of crypto-currency have been merged, because of what happened the fall, everything will be all right soon!

[BitcoinHodler]

the drop is partly because of bitcoin price drop since like any other altcoin ethereum will always get dumped when bitcoin goes down. but also if you look at the size of the drop you can see it is always bigger than bitcoin and that is because bitcoin has both bag holder newbies and real investors who know the real potential of bitcoin. but when it comes to ethereum there is only newbie bag holders left now who are panic selling and going out. which means the ETH dump is that much harder.

[NaXxow]

we cannot say basic demand and supply for ETH. yes there should be demand for it in order for it to increase its value, beside, ETH supply is not that much, and miners are now at lost from mining it. I think there is some manipulation and sell off now. Yes, it is very dramatic but very fun to ride.

[smyslov]

The demand and supply play a major contribution when controlling the price of a product. As far as I know, ETH has a sufficient demand to stay the price level stable. But we can see that the prices are reducing these days. Does anyone know what are could be reasons for this other than demand and supply?

Are you only checking Ethereum, check the coin as well, all coins or 90% are in red not only ethereum so why single out ethereum, the price is dropping because of the so called south Korean exchange, and domino effect is now happening but this is only temporary, next week it's a totally different scenario.

[enawati]

Not only Ethereum but all mayor crypto down dramatically because the market cap of crypto also decreased alot from about $800 Bn to $300 Bn, and this is because so many FUD and bad news at the sametimes. But crypto market has possibility to growth again and the marketcap also can be possible going to $ 1Bn in next years. If you aiming to make invest in long term so just forgot about this down.

[AUruHM]

Not only Ethereum but all mayor crypto down dramatically because the market cap of crypto also decreased alot from about $800 Bn to $300 Bn, and this is because so many FUD and bad news at the sametimes. But crypto market has possibility to growth again and the marketcap also can be possible going to $ 1Bn in next years. If you aiming to make invest in long term so just forgot about this down.

Sorry but where is you see such dump? From $800 Bln? It was near New Year more than 4 months ago. Last dump was from $340 to $300. It's not so dramatically as you present. yes it's not a small but not deadly

[Piskeante]

because it will be announced PoS this week.

[target]

because it will be announced PoS this week.

Never saw that coming actually. I learned about it months ago but I didn't know its this soon. I guess the miners are going to be working on another coin that can make them profit. Seem to late for me to think of mining this time. But why is the price going to drop when its now in the POS algo. The more its hard for ETH to earn if its in POS already right?

[NaXxow]

because it will be announced PoS this week.

Never saw that coming actually. I learned about it months ago but I didn't know its this soon. I guess the miners are going to be working on another coin that can make them profit. Seem to late for me to think of mining this time. But why is the price going to drop when its now in the POS algo. The more its hard for ETH to earn if its in POS already right?

I think it will be harder to mine ETH, and practically, it is more nature friendly step for ETH to become POS. Personally I prefer this transition.

[ityandsyn]

Well according to Forbes, the main reason being south korean exchange being hacked is one of the reason for all crypto dropping over the weekend.

https://www.forbes.com/sites/chuckjones/2018/06/10/bitcoin-bitcoin-cash-ethereum-ripple-other-ccs-fall-5-or-more-as-south-korea-exchange-hacked/#48efaadb58a6

     Definitely this the reason because it has less 24 hours after they were been hacked, the of price of Bitcoin and all Altcoins are goes down so it very clear that this is really the reason, maybe they dump it all which causing abrupt supply of cryptocurrency. Just imagine the 7 percent slumped of Bitcoin price after the hack.

[bkbbtr]

I think this has a lot to do with recent panic sales. Everyone is panicing the market and afraid of a big drop. They are selling tokens they hold. This has a big impact on ETH!

[Sony.UK]

The demand and supply play a major contribution when controlling the price of a product. As far as I know, ETH has a sufficient demand to stay the price level stable. But we can see that the prices are reducing these days. Does anyone know what are could be reasons for this other than demand and supply?

Bitcoin is the major role in crypto market so it will raise in the market automatically Ethereum and other altcoins are growing. Because supply and demand is reduced in most of the altcoin. The main reason is investors are panic to invest in cryptocurrency so all the coins are fluctuating in market may be next week we will see the best growth in soon.

[ruthbabe]

I think one of the reasons behind the Ethereum price drop is the massive SELL-OFF of ERC20 blockchain projects that have raised millions of dollars in ETH in their token sales as being pointed out on the news here, which says, "As the price of ETH started to fall and the cryptocurrency market entered a major bear market, analysts have said that ERC20 projects started to sell their ETH holdings, causing ETH to experience a more intense downtrend than other major cryptocurrencies." So, it is evident that the decision of ERC20 projects on Ethereum to sell large amounts of ETH in panic largely contributed to the downtrend of ETH.

[brjameng]

Panic selling also play a major factor that deciding the price of any cryptocurrency, including bitcoin.
When people starting to do that, most probably the price will surely drop so fast.

[zhekinsp]

The demand and supply play a major contribution when controlling the price of a product. As far as I know, ETH has a sufficient demand to stay the price level stable. But we can see that the prices are reducing these days. Does anyone know what are could be reasons for this other than demand and supply?

Not only ethereum almost 90% of altcoins were following the same path and it alsmost dropped about 80% of all time high prices the reason behind this is the price of cryptos were moved much faster than it needs to be so the eople who bought at the lower prices keep dumping for the profits so it made the crypto prices to remain bullish.

[castiloros]

This is not because Affairs request only that determines the price. other larger crypto as does bitcoin who failed to rise and even getting down makes a root of its own that makes ethereum not also experienced a rise and fall even more. So instead of just one side could determine the market prices but many other factors should be used as well as the consideration and analysis.

[BitcoinHodler]

we cannot say basic demand and supply for ETH. yes there should be demand for it in order for it to increase its value, beside, ETH supply is not that much, and miners are now at lost from mining it. I think there is some manipulation and sell off now. Yes, it is very dramatic but very fun to ride.

i don't know how you say "ETH supply is not that much"!!! when ethereum is one of the coins with the largest supplies! it currently has more than 100 million coins in circulation and the worst part of it all is that there is no cap meaning it can go on forever increasing the supply every second.
as for demand, it has always been speculators wanting pump and dump and ICO investors being forced to buy ETH to buy an ICO. and as they go away the price drops.