What is going on with ETH?

[mdayonliner]

This will be a self moderated topic to prevent obvious spamming. I need a discussion not just comments. I am keen to understand the market.

For me it's a call to buy by the way.



Just few minutes ago I saw a buy order of around 72BTC (the screenshot is from Binance). One side is buying and another side is selling at the price 0.03 BTC (around). I have no idea how long this bear market will continue but I have seen ETH to bounce back from aroun 0.028 BTC to 0.096 BTC.

What are the factors are causing this price drop for ETH. I am sure those who are selling at this price are not stupid.

[1713931250]

1713931250

[1713931250]

1713931250

[1713931250]

1713931250

[1713931250]

1713931250

[Westfiled]

This will be a self moderated topic to prevent obvious spamming. I need a discussion not just comments. I am keen to understand the market.

For me it's a call to buy by the way.



Just few minutes ago I saw a buy order of around 72BTC (the screenshot is from Binance). One side is buying and another side is selling at the price 0.03 BTC (around). I have no idea how long this bear market will continue but I have seen ETH to bounce back from aroun 0.028 BTC to 0.096 BTC.

What are the factors are causing this price drop for ETH. I am sure those who are selling at this price are not stupid.

there was a reason behind all of this scenario the first should be a lot of people are worrying to see their portfolio of ethereum to go down more and more and then they have been selling their ethereum and liquidate it to the bitcoin. Another reason to see the a lot of people are buy bitcoin caused by ETF and that could be the main reason.

[Itsmylife]

In my opinion, 0.03 BTC is supporting zone of Ethereum. Some holders sold at this price because they want to break this supporting zone to make another deep(maybe they are whales). If say that ICO projects and investors are selling at the price of 0.03 BTC, it is not exactly. They have enough smart to know when to sell to save their funding.

[iconoclast]

I think a lot of the downdraft Ethereum is getting is from people shorting Ethereum. It is only in the last little while that we have seen exchanges offering margin. People are taking advantage of this by using it to create short positions. The basic trade that I think a lot of traders have been making is using BTC to Short ETH. Since ETH is more volatile than BTC and the markets tend to move in tandem any move to the downside creates profit from the larger drop in ETH than the loss you suffer from BTC. If the market moves the other way and ETH rises it probably mean BTC has also risen and limited your loss. Exchanges have also been reporting that short position have reached record levels.

[deeofficialx]

Been researching for almost a day now, and yet, I found nothing. Maybe this is just a manipulation... or maybe not. I had a bad feeling that price will go down a bit more.

[minime0105]

What is going wrong nobody knows. I for one don't understand how can a coin worth 1k have been doing terribly bad. And what's worse is that this downtrend does not seem to stop. We are going to see ETH reach a massive dip of 50USD or thereabouts.

[coin8coin8]

The days of explosive growth in the blockchain industry have likely come and gone now the average person is aware of its existence, according to Vitalik Buterin, co-founder of Ethereum.
“The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin said in an interview with Bloomberg at an Ethereum and blockchain conference in Hong Kong. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

Source: https://www.bloomberg.com/news/articles/2018-09-08/crypto-growth-nears-ceiling-ethereum-co-founder-buterin-says

Even Etihad's co-founder Vitalik Buterin believes that crypto has developed into a "ceiling". It seems that he also lost confidence in Ethereum. This is a bad signal that Ethereum is on the road to collapse.

[Lorence.xD]

What is going wrong nobody knows. I for one don't understand how can a coin worth 1k have been doing terribly bad. And what's worse is that this downtrend does not seem to stop. We are going to see ETH reach a massive dip of 50USD or thereabouts.

     Market is Volatile, it is unpredictable, anything can happened during the market trading. There are  a lot of indicators that can be attributed to the down stream of the market of Crypto Currency Market. Bad news or good market react,  some investor on the HODL, Traders play along the market Volatility.not to mention the issues on Regulations, Banned, Scammer, and other ilegal activity by the Hackers.  Ethereum often time goes against Bitcoin price value as posted in the market, but we can never confirmed either the Whales or market insiders have something to do with the market down stream.

[Heisenberg_Hunter]

Ah, good to see a self mod thread in Alt Discussion. The shit replies crossed 20+ and you have trashed most of them, except keeping a few good ones.

There has been significant dip in the btc/eth trading pairs with eth reaching as low as 0.03BTC these few days. The dip might have been due to various reasons with the primary one being the ICO guys selling of their Eth which they have collected in ICO to prevent further losses due to the bearish market prevailing now. Further cmc datas has shown that btc dominance is raising at a steep rate with the tokens getting vanished from the market at a speedy and an enormous rate.

According to recent stats, it is seen that ICOs have raised around $7billion this year and with August being the lowest. Most of the ICOs collect eth as their primary currency and sell them off to start developing their platform.

We should even note that, eth doesn't have a cap and a minimum supply. Also as of VB words, eth should be considered as a fuel for running the platform on top of ethereum network. The new market traders could have realized this lately and would have sold their eth which they accumulated in the earlier 2017 days.

The recent words from VB suggests that "Eth and other currencies has reached their maximum potential and would never rise in steep gains". These may have also created a panic among the traders and some minor whales who could have dumped the price.

Will the eth market recover and see new gains?

I don't think so, unless we have some good improvements in the eth protocol and the introduction of Casper.

[criptoman83]

At first, I thought that the reason for the ether dump was that the ICO projects that collected the capitalization on the ETH are now selling it hard, so as not to get an even greater loss in the dollar. But then I looked at the project official wallets, where they store the collected ether - most projects have funds in place. So it's just a manipulation.

[mdayonliner]

Ah, good to see a self mod thread in Alt Discussion. The shit replies crossed 20+ and you have trashed most of them, except keeping a few good ones.

Yes I had to keep it this way to prevent spamming. I have deleted some more posts too. Let's see how many more input we get.

Anyway, the last time I have seen - it went down 0.026. Now it's over 0.030 from last few days.
 

The dip might have been due to various reasons with the primary one being the ICO guys selling of their Eth

This could be a reason however I have seen some articles or something that was saying that most of the ICOs actually holding their ETH instead of selling. I can't remember where I read it but their summary was that it's a manipulation.

You get the same observation from here too..

So it's just a manipulation.

[HichemFetoui]

ethereum drop simply because a lot of project are dumping it ICO for salary payments and the right reason is there is nt a mechanism that support the ethereum price right now

[mdayonliner]

ethereum drop simply because a lot of project are dumping it ICO for salary payments and the right reason is there is nt a mechanism that support the ethereum price right now

You mean no mechanism? Well in that case give me a cryptocurrency that has a mechanism of controlling its price. Even Bitcoin are being manipulated. IMO whales are controlling the crypto prices where the miners was meant to control it.

The miners are investing money to bring the bitcoin in life meaning they are the producers. If the price was controlled by them then we would not see this much price volatility.

[neocryptrix]

I agree. It's margin trading Bitmex is the devil. Sentiment for crypto is still pretty high but the entire market is being manipulate in my opinion by those with bigger stacks than you and I can imagine. The ability to short with leverage from a large position will always defeat those who want to invest their lunch money. This is how the rich get richer and the poor well you know.

[Shazxdx]

Lately people were buying ETH alot. Even when BTC started bear trend last week, ETH was holding its position. I am not panic about ETH price falling. Its buying opportunity for me.

[shivansps]

What  I think happened with Eth is just stupid ICO projects panic sold their ETH stacks which they hold all bullrun period and didn't cash out when they suppose to. Who made those projects to dump their ETH stacks? I'm 100% sure whales or some huge entity who knows what to do, they crash the price and then rebought from ICOs.

[mdayonliner]

Guys please stop repeating the same answers. If you see an idea was already given then you do not have to repeat it. If you have something new to add then make a comment or leave it. There is no point to make a post when you have nothing new to say.

ethereum drop simply because a lot of project are dumping it ICO for salary payments and the right reason is there is nt a mechanism that support the ethereum price right now

I thought ETH was down because of the large number of people who sold the ETH themselves, and many ICO projects that were scam a week had negative effects on the ETH holders and then sold panic for fear that the ETH price would go down

I once read an article about what happened to ethereum, I saw a lot of selling that made ethereum prices destroyed, and there were still many ico scams and thefts that harmed ethereum paltfrom