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Author Topic: [2018-06-26]Ethereum (ETH): Losing 50% Against Bitcoin Since Last Summer  (Read 52 times)
J_Crypto
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June 26, 2018, 09:32:25 AM
 #1

Ethereum (ETH) looks nothing like before, entering a true bear market, by returning to the lowest levels since the fall of 2017, with a very small net gain since June 2017, after rising to above $1,300 and crashing to nearly $400. ETH has also lost significantly since its peak BTC prices last summer, down 50% from 0.15 BTC to 0.073 BTC.

ETH is at a curious crossroads, pressured to a low price level, but also being central to the still strong ICO and dApp ecosystem. The Ethereum network, for all its flaws, attracts new projects almost constantly, and is currently hosting some of the first operational dApps. All other networks have fewer projects and dApps, and most run on promises.

ETH recovered slightly to $458.56, down around 11% net this week. In the past quarter, ETH has gone without a net gain, despite the spike above $830. But now, a curious trend is happening, as trading volumes are returning, and ETH trading takes up more than 22% of all crypto trades. Additionally, ETH is seeing an increased influence of Tether (USDT) trading, an asset that previously supported Bitcoin, but moved into altcoins in the past months.

 

Thus, Ethereum may be the next coin to take up another rising trend, pushing up from the lows. But the coin is also pressured with extremely active selling, increasing the volumes to a three-month record in the past few days.

The Ethereum network is now also faced off with the allegedly better system of EOS. But the comparison has raised criticism that Ethereum is also, in a way, centralized, and the influence of Vitalik Buterin is too significant.


 
https://twitter.com/WhalePanda/status/1011207852801904640

Buterin is still looked up to for providing guidance and the Ethereum project has a centralized and planned timeline to develop into a different kind of digital asset, a staking coin. However, the ETH network so far has worked without a verification layer.

The influence of Vitalik Buterin was felt most significantly after the DAO hack, when a hard fork and a rollback was proposed. Again, during the launch of Ethash ASICs this summer, the Ethereum community suggested a change of mining algorithm to disable the machines — but Vitalik Buterin spoke in favor of preserving the current condition.

https://cryptovest.com/news/ethereum-eth-losing-50-against-bitcoin-since-last-summer/

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June 27, 2018, 07:14:17 PM
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Well, it seems that the article has focused a lot on detonating the ETH, I will not comment on the ETH centralization issue, I will just comment on the ETH price. it's needed to see the coinmarketcap to realize that almost all cryptos are in the same situation and some cryptos are in a much worse situation. let's look at the example of the NEO case. Neo has reached $160 and see the price that Neo has today  $30. In relation to bitcoin, Neo dropped from 0.013 btc to 0.005 btc. I'm not defending ETH or being against Neo. I'm just saying that it would not be fair to judge the price of ETH when all cryptos are in the same situation.

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June 27, 2018, 07:53:39 PM
 #3

For people thinking of switching their BTC to Ethereum I think there is no better time than now as ETH is losing its to BTC. Remember that when Bitcoin rallied to almost 10,000$ recently, ETH also rallied as well but is better than BTC as it reached as high as 790$ from its low which is 370$, a lot of people have doubled there money in the process and with the dip we are experiencing right now this migh be another chance to be greedy.

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June 28, 2018, 02:11:53 AM
 #4

Fine but all altcoins' values including bitcoin as well, has lost to the max this year. So no surprise on ETH loosing its value compared to BTC. If you look at other altcoins comparing to bitcoin, yes you would see a lot difference. The current situation is really poor in terms of price growth. It would be better if every altcoin including ETH focus on their growth rather than comparing its growth. Hope this situation gets changed and everything sets back on track.



























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June 28, 2018, 04:10:02 AM
 #5

Fine but all altcoins' values including bitcoin as well, has lost to the max this year. So no surprise on ETH loosing its value compared to BTC. If you look at other altcoins comparing to bitcoin, yes you would see a lot difference. The current situation is really poor in terms of price growth. It would be better if every altcoin including ETH focus on their growth rather than comparing its growth. Hope this situation gets changed and everything sets back on track.
Yes, the situation on the crypto-currency market is now very unsightly. To a greater extent, it arose because of the price dominance of bitcoin. Therefore, the current drop in the popularity of bitcoin can help reduce such dominance and other types of crypto currency will be able to independently focus on their prices. Now for the market this is very important.
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June 28, 2018, 06:44:35 PM
 #6

Once ETH "shards", its going to be over.

https://hackernoon.com/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

ETH, EOS, BCash... they're all making mistakes that will ensure their eventual ruin.

Be prepared, is all I'm saying.

fortitudinem multis - catenum regit omnia
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June 28, 2018, 07:04:40 PM
 #7

You can draw varied interpretations based on the time period you analyse. If you go back 2 years instead of 1, you will conclude that ETH has had a stupendous run against Bitcoin. The interim high of 0.15 BtC is not what you should be looking at. A couple of years back it was worth less than 0.01 BTC.


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June 28, 2018, 07:32:55 PM
 #8

I like Vitalik, i'm glad he has big influence of the future of ETH. I'm really tired of anonym coins, with anonym devs to support our privacy, and so on...

ETH hopefully became more like platform than a currency. A Platform need developers, and a leader.


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June 28, 2018, 08:48:36 PM
 #9

I'm not a fan of Ethereum, but this article sounds really manipulative, because last summer was ETH's ATH in BTC price - 0.156 BTC per ETH. After that it had a huge crash - as BTC was rallying, ETH was staying in place, so it reached the last years low of 0.025 BTC per ETH - 6 times lower than ATH. Now it has recovered and trades at 0.07 - something in-between last years high and low. As for USD price, during last summer it was $371, now it's $458 - I wouldn't call this "bear market" that is specific to Ethereum, it actually seems to perform fine.

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June 30, 2018, 12:39:57 AM
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Almost most of the coins are in the same situation and they all experienced an incredible decline. The thing is decline seems to be unfinished, no one knows how much longer it will continue. Hack issues have caused serious damage to the market so we need positive news urgently.

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