Ethereum is taking a direct beating from twitter, FB, google. Might fall to $400

[Lovecove]

Ethereum is taking a huge beating, and we've all seen that. It started out at 1.1k earlier this month, but today it fell to nearly $490.

People might argue that ethereum is falling because of BTC, and that's generally true. When BTC falls, it usually takes with it other alts, like eth. But there are certain times when eth skyrocketed while BTC fell – like when BTC was congested and people flocked to eth for their transactions.

But now that bitcoin's transaction fees and speed aren't issues, there's no reason for anyone to flock to eth while btc is falling. So eth falls to the mercy of BTC's drop in price.

But Google's new Ad regulations are directly affecting eth more than any other crypto. Why? Because most scam ICOs are ERC20 tokens. Now that the scammers can't hype up their tokens through Google, they might be dropping their plans. And remember that people have been outward about 90 percent of ICOs being scams. And when there's less ICOs, there's less ICO investors.

Plus, the SEC has launched new regulations and investigations into ICOs, which are also predominantly ERC20 tokens. People are being scared away.

And to add to the FUD, even Twitter is banning ICOs and even crypto wallets. Ethereum wallets are actually more in demand than bitcoin wallets because they encompass a wider variety of crypto due to all the different ERC20 tokens that are on the eth blockchain.

So you have FB, twitter, and google – the three whales of social media all banning predominantly ERC20 token ads. Thus, there's a significant amount of people flocking from eth because the money is leaving.

I believe when twitter comes out officially with the ad ban announcement, we'll see a further drop in eth to about the middle of $400. I think this is a good bottom for Eth. I don't see Eth falling below $350, and if it does, then that's a huge steal.

Eth is still a leading cryptocurrency with its versatile and innovative features. It still attracts legitimate startups to its blockchain given the ease of creating an ERC20 token. And there are far too many legitimate companies built on the eth blockchain.

Eth should honestly be near BTC's price a lot more than Bitcoin Cash. So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

Once everything has stabilized we should see a clear growth in Eth's price.

[KylesmomisaB]

Awesome, I will now finally get some cheap Ethereum like I have always wanted. Seems like you are overall bearish on the whole market though, not just Ethereum at the moment. Oh well let the whole market come down, I will snap cheap Ethereum and a couple other alts then. Give it at max two years to stabilize I would say .

[skylar]

right now ETH are not only drop on USD vallue but also it is drop on BTC too. I will not denied if someone will says it might fall arround $400 but at least it is still stable arround $500 ATM.

Eth should honestly be near BTC's price a lot more than Bitcoin Cash. So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

IMHO ETH should be near BTC marketcap vallue rather than BTC price because ETH has more circulating coin supply. yes it is still undervallued but for me $1500 - $2000 is a fair price for ETH.

[kevoh]

That's a really comprehensive post on the recent fall in Ethereum price. Unfortunately for us in cryptosphere, we are going to witness more regulations by government bodies this year with inexperienced investors cashing out their Ethereum tokens into fiat over fears arising from these regulations.

[Lovecove]

Thanks for your inputs everyone.

You all seem bullish, and that's fine. I'm just saying that we're looking at a lot of incoming FUD. Especially when Twitter finally confirms that they're banning wallets and ICOs from their ads.

Do remember that Twitter is the #1 platform where coins and ICOs announce their shit. Once twitter bans ads... Definitely going to see some kind of huge massacre. The thing no one realizes is that Eth is the one that's going to take a lot more of that brunt force simply because, again, most ICOs and wallets are eth-related.

I mean, think about it, when you think ICO, you're thinking ERC20 token. That means that most ICO investors are investing in eth. So the ad FUD is directed at eth for the most part.

But it's okay if you guys want to be bullish. Maybe my analysis is wrong? I dunno. The crypto world is crazy and anything can happen.

But I do think eth is super undervalued. I mean look at these new developments:

An eth startup just released new scaling technology that boosts eth's capacity. TechStars' toolkit lets devs create eth apps with higher scalability. It's going to exponentially increase the efforts of the Raiden Network and Plasma.

It actually creates sidechains for the eth app, then links those sidechains with the main eth network.

I mean, so, compared to other alts, you have many companies and startups investing millions upon millions on individual eth projects. Do you hear the same thing happening with other coins? Not even LTC is garnering that much funding and R&D.

So it's just ridiculous that Eth would be worth $400- $500, while you have Bitcoin Cash which does nothing... literally nothing... up in the $1,000-$4,000.

[befriendmywater]

wow, that really is a rumor not to be beneficial to eth and its price would be up to $ 400. I do not invest in ETH but I feel bad for my friends. They invested all their assets in ETH and bet that ETH's price would rise again to $ 800 within the next 2 weeks. I hope this is just FUD and it does not really affect the real value of ETH.

[ajaymukund]

Awesome, I will now finally get some cheap Ethereum like I have always wanted. Seems like you are overall bearish on the whole market though, not just Ethereum at the moment. Oh well let the whole market come down, I will snap cheap Ethereum and a couple other alts then. Give it at max two years to stabilize I would say .

hell no, that's real news man. You should not risk investing in ETH at this time. Since this is not a FUD, this is a real news and will be conducted in June. This shows that the price of ETH will go down really and can not recover. That's my point, hope you make the right decision.

[omonuyak]

If Google, Facebook and twitter are banning cryptocurrencies ads and there is no any other major put in place for corrections on scams icos then I don't think there have do the right and it will be that there are fighting it because most of the founders have over take them in wealth. Ethereum is falling now because most of the other coins are also falling and this is the nature of this market.

[xenomorphe1]

I think ETH was overevaluated. That's why its price is getting a correction. Price of ETH might increase in the future. But for the use of ETH, it is overevaluate i think. We only use ETH to buy other ICO and for the transfers fees. ETH is also too slow. And there is too much scams ICO. The new dev should try to look at other blockchain. I have a little ETH, but it is only used to buy ICO or transfers fees.

[onebtcforlife]

There are many negative rumours about the market but only on ETH is not at all fare because many coins are facing the same situation they go down more than half of their actual price previously. An even same thing happened with the Bitcoin, ETH will increase it's price when Bitcoin market settles.

[disconnectme]

There is no doubt that ICOs have helped the price of Ethereum greatly, but talking about FUD BTC  has suffered its own before and still being attacked by people. Although price is subjective  you by something because you think it worth the price and I believe Ethereum will always have a demand for its tokens

[timikulit]

This only implies that bitcoin is the mother of all crypto. If bitcoin falls down, expect that altcoins will follow. even if that is a big altcoin like ethereum, neo, ripple etc..

So if you said that bitcoin will die then all of the crypto will follow. and i am very sure that it will never happen. Bitcoin will stay here up to next generations.

[fudster]

Its not just the ETH that is affected although more ICOs are using the ethereum platform, its not directly aimed to them but to all platform like NEO and waves, they all suffer the same misfortune. The sudden come back is the most awaited when finally we can see price climbing.  We'll see how things will do. Take the opportunity to buy now because the ATH price last year may be the cheapest price in the next few months.

[trumper]

Because ethereum can be bigger than all of them, and all these new decentralized web is a big threat to business of google and other tech companies.

[kolesozw]

Why you are watching only the ETH dollar value? ETH is at 500 level because BTC is low as 8.5K.
You must watch BTC <> ETH value.

ETH is very strong, with very large user base. It may fall to $400, but then BTC must be 6K.

[Bowtiesarecool]

This is one of the most objective insights into the current market condition. ETH is going to have it rough these next few, but the tech is really great! Nothing to worry about if you're in for what the platform does and not speculation

[sehoon]

Ethereum is taking a huge beating, and we've all seen that. It started out at 1.1k earlier this month, but today it fell to nearly $490.

People might argue that ethereum is falling because of BTC, and that's generally true. When BTC falls, it usually takes with it other alts, like eth. But there are certain times when eth skyrocketed while BTC fell – like when BTC was congested and people flocked to eth for their transactions.

But now that bitcoin's transaction fees and speed aren't issues, there's no reason for anyone to flock to eth while btc is falling. So eth falls to the mercy of BTC's drop in price.

But Google's new Ad regulations are directly affecting eth more than any other crypto. Why? Because most scam ICOs are ERC20 tokens. Now that the scammers can't hype up their tokens through Google, they might be dropping their plans. And remember that people have been outward about 90 percent of ICOs being scams. And when there's less ICOs, there's less ICO investors.

Plus, the SEC has launched new regulations and investigations into ICOs, which are also predominantly ERC20 tokens. People are being scared away.

And to add to the FUD, even Twitter is banning ICOs and even crypto wallets. Ethereum wallets are actually more in demand than bitcoin wallets because they encompass a wider variety of crypto due to all the different ERC20 tokens that are on the eth blockchain.

So you have FB, twitter, and google – the three whales of social media all banning predominantly ERC20 token ads. Thus, there's a significant amount of people flocking from eth because the money is leaving.

I believe when twitter comes out officially with the ad ban announcement, we'll see a further drop in eth to about the middle of $400. I think this is a good bottom for Eth. I don't see Eth falling below $350, and if it does, then that's a huge steal.

Eth is still a leading cryptocurrency with its versatile and innovative features. It still attracts legitimate startups to its blockchain given the ease of creating an ERC20 token. And there are far too many legitimate companies built on the eth blockchain.

Eth should honestly be near BTC's price a lot more than Bitcoin Cash. So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

Once everything has stabilized we should see a clear growth in Eth's price.

I still don't know what's the connection between the bashing of ethereum in social media sites and it's price. Anyway, right now is actually the best time to buy more eth because we know that it is going to sky rocket to the moon in the next months. We will be back on track.

[swissgang]

I don't understand this effect of scam ICOs and ethereum. Then we can say that with lots of great projects built on ethereum, it will moon though it falls now due to the scam ico.

[LazyBitInvestor]

So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

20x, eh?
What the reason? I agree that ETH is most popular blockchain for ICOs (with working smart contracts), but it has some disadvantages: The number of transactions per second leaves much to be desired.

[Lovecove]

I think ETH was overevaluated. That's why its price is getting a correction. Price of ETH might increase in the future. But for the use of ETH, it is overevaluate i think. We only use ETH to buy other ICO and for the transfers fees. ETH is also too slow. And there is too much scams ICO. The new dev should try to look at other blockchain. I have a little ETH, but it is only used to buy ICO or transfers fees.

Vitalik and the other eth devs are fixing the cryptokitties problem, and from what I've seen, they're doing well. Eth is a lot less congested now and it's way faster. Using only 1 gas at 2100 gwei, my transactions have succeeded in only 10 to 20 minutes sometimes! That's pretty dang good.

This only implies that bitcoin is the mother of all crypto. If bitcoin falls down, expect that altcoins will follow. even if that is a big altcoin like ethereum, neo, ripple etc..

So if you said that bitcoin will die then all of the crypto will follow. and i am very sure that it will never happen. Bitcoin will stay here up to next generations.

Not sure if this is spam or a reply to someone else. But this thread is about Ethereum, and you're randomly inserting something about bitcoin and altcoins. I never really mentioned BTC and never said BTC would be crushed by ETH or anything at all like that.

Its not just the ETH that is affected although more ICOs are using the ethereum platform, its not directly aimed to them but to all platform like NEO and waves, they all suffer the same misfortune. The sudden come back is the most awaited when finally we can see price climbing.  We'll see how things will do. Take the opportunity to buy now because the ATH price last year may be the cheapest price in the next few months.

Neo and Waves and other less-known alts do have coins built on top of them. The thing is, Neo, Waves, and these other alts probably have less than a handful of tokens built on them. I remember back in the Fall when the first token to be built on Neo came out. It was a huge deal.

But I guess now Neo is getting more popular with ICOs and coins built on it. I found this: https://www.reddit.com/r/NEO/comments/7lcsam/neo_has_27_icos_coming_to_its_platform_here_is_a/ so it looks like Neo has more than 27 tokens built on it! If that's true, then Neo certainly will be hit hard by the ad blocking campaign by twitter, fb, and google.

Why you are watching only the ETH dollar value? ETH is at 500 level because BTC is low as 8.5K.
You must watch BTC <> ETH value.

ETH is very strong, with very large user base. It may fall to $400, but then BTC must be 6K.

Eth is now a special case now that you can buy it with fiat. Other alts depend highly on BTC's value because no exchange allows you to buy that alt directly with fiat. But Ethereum is one of the alts on major exchanges that allow fiat purchases – and they let you directly purchase ethereum with fiat.

Thus, Eth is more independent of BTC's price than other alts. Although, yes, Eth's price is still somewhat tied to BTC's value.

So I feel as though Eth is at least 20x undervalued, but you won't see that value until all this regulation FUD clears.

20x, eh?
What the reason? I agree that ETH is most popular blockchain for ICOs (with working smart contracts), but it has some disadvantages: The number of transactions per second leaves much to be desired.

You have a very good point, but as I've stated in my followup post, there are new sidechain developments that allow for an increase in tx per second, although not directly occurring on the ethereum network, but are still linked to the eth network overall.