is it now when ethereum is down?

[Mahanton]

today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?

Basing off into your profile, you've been here on this market since 2017 yet these kind of situation do still surprise you? unless if you are just letting yourself get blind into these kind of price movement
and you do hope or do always believe on increasing price.No one can really know on what would happen in the future no matter how good or fast the increase of price not only limited on ETH alone but in most
coins in the market specially with Bitcoin. Havent you seen the price of btc that do goes down in percentage too? There are already some people do talk that it is dying but this isnt something
new for you to be shocked off. Market cant really just have that continous price increase, there would always be a correction.

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[bearexin]

Ethereum doesn't really have a reason why it should go down, bitcoin doesn't neither but at least the big thing about bitcoin (halving) already happened so I would understand that people may think bitcoin will drop, not like it will, I believe it will not, but the logic is there which is why I do agree that it actually makes a bit of sense.

However ethereums big thing is still there. After the whole phase 1 thing and ethereum becomes ethereum 2.0 with the proof of stake, do you really think it will go down? There is really no chance that could happen and that is why I believe that we should really be focusing on the fact that bitcoin will probably go up, but ethereum will definitely go up. All these talks about going down are just temporary and people will see it won't happen.

[proscratcher]

ETH is down because of many sellers taking profits on a long position. It is normal in any market to see a massive dump. I don't think what is happening right now is a simple correction or retracement. But for me, I think ETH will need to bounce back to $400 to be bullish again.

[rajakulam]

I also don't know about this, but the biggest impact is because there are big investors who only make ETH prices what they are today, but many traders don't panic about this, if you have the capital now is a good time to invest, because most likely the price of ETH  will soar at the end of this year

[marks1976]

GAs should be one of the very strong reasons why people were selling their ethereum to move into another altcoin or liquidated it into the bitcoin or stable coin. So many people were getting stressed to pay more than $10 for a very small transaction in ethereum network.

The crazy trend of defi that build in ethereum has already destroyed the support that has already made by the POS update. This looks so crazy

[Twinkledoe]

ETH is down because of many sellers taking profits on a long position. It is normal in any market to see a massive dump. I don't think what is happening right now is a simple correction or retracement. But for me, I think ETH will need to bounce back to $400 to be bullish again.

And that $400 is very possible in the next coming days. It is not as if we are aiming to $1k here. Because we already hit the $400, and once btc is going up again, eth will also go up. So for me, $400 is very achievable even in the next couple of days. So the OP should not worry about this $400 level, because it is on the horizon.

[SyndicateLabs]

I think this is because the effect of bitcoin prices decreases, altcoin prices also fall, including ethereum, so it's not a problem with the expensive GAS costs. But this was only for a moment and soon all will return. Stay positive and don't panic.

Exactly, bitcoin collapsed and it caused this entire market to collapse. If bitcoin fails to hold at $ 10k then I believe the market will continue to bleed and the price of ETH will fall below $ 300 over the next few days.

[pallang]

today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?

Bitcoin is down so expect  some of the altcoins will go down too, im thinking that after the market will become stable, high cost of gas will be the next reason for the ethereum to go down deeper.

[Arkann]

I believe that the major Ethereum holders are not interested in the prolonged fall in prices and therefore the purchase will resume to resume strengthening support. But I believe that it is necessary to monitor the flows of Ethereum and if the transfers of ETH to cryptocurrency exchanges increase, then this will be an alarming signal that will indicate possible large sales with all the ensuing consequences.

[bitcoinisbest]

today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?

Maybe there is exact reason why the market is bearish. Not only ethereum but almost all the coins is experiencing downward. See the chart coins are in bloody red.

i think this is not a kind of reversal my friend
this is only a corrections, just wait buddy, i believe ethereum price will stay above 300$

ETH has fallen because of bitcoin being dropped from its top level of this year and thus ETH is presently at 355$ and fallen from close to 430$. But, it is only temporary till btc swings back again so with ETH will follow and soon it could again cross 400$ mark. Its not that price will never rise from here again.

[LouVandetta]

There might be several reasons for that to happen, might be because of the decline of bitcoin's price, and the gas fees of ethereum that is still quite expensive. Actually, when bitcoin is on the move, especially when it's dumping or decreasing in value, you can expect the other will follow behind it. But really, looking back at the gas fees back then and now, wow, what a gap, right?.

[Shasha80]

Regarding the high cost of GAS problem, it is only one of the reasons why ETH has dropped in price, the main reason is of course
the price of Bitcoin fell to $ 11,200 caused the prices of some altcoins to drop drastically. But there is nothing to worry about,
because ETH is still in a safe zone, which means that it won't be long before the price can return above $ 400 again. We just need
to be a little patient right now.

[bitcampaign]

There is a correction in the price of bitcoin so everything has an impact on other altcoins including ethereum, so it's no wonder, but don't worry, it will recover, to be honest the high gas costs are very annoying hope that it can also be resolved soon

[optimisticcm]

today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?

Thus sudden market shaking seems to be some kind of specualtion from big whales to buy back cheaper because there is no negative thing going around crypto market at the moment and general sentiment is positive as well so the only reason seems to be whale game at the moment but bulls will be back soon with more aggression hopefully.

[ned.ryerson]

Ethereum has dumped to $ 320 today and I also think we will see $ 200 again this year. I am waiting when this dump will happens in order to buy a lot of ETH

[TIDOVEE]

This dump is so drastic, though it could be due to the increased gas, but I think it is also to favour the whale's. The whale takes this advantage to double up investment for maximum profit, we all know the dump cannot take long. No matter how low we have it now, one thing is sure we are facing the bull and no more the bear. We still expect something better before the end  of the year, and since we cannot influence the rise for now we've got to exercise patience.

[DU18]

Ethereum has dumped to $ 320 today and I also think we will see $ 200 again this year. I am waiting when this dump will happens in order to buy a lot of ETH

ETH price is likely to consolidate prices or price up and down movements in a certain range, without any significant trend, a few days after the highest price increase, which is in the price range above $ 410, is reached. and then eth again experiences support that lasts at $ 400 for a while, but investors / traders of course have to be able to take advantage of the down trend that has continued to occur until now, in my opinion eth will continue to go to support which is relatively safe in the $ 340 price range. it can be a great opportunity for traders / investors to buy ETH at a low price.

[suzanne5223]

today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?

If the high cost of gas was the reason why Ethereum dump in price this would have happened long ago but people believe the Bithumb exchange problem somehow impacts the market price but I don't buy that because market slightly correction is needed sometimes in other to strengthen the market bullish trend.

[Dollar_Hunter]

There is a correction in the price of bitcoin so everything has an impact on other altcoins including ethereum, so it's no wonder, but don't worry, it will recover, to be honest the high gas costs are very annoying hope that it can also be resolved soon

I think this is not a correction, this is a bearish season, don't get trapped, imagine we have been in a very long bullish season, since the price of Bitcoin at $ 4000 to $ 11000 is an extraordinary achievement, and of course don't be surprised if the price of bitcoin can be below $ 4000 again

[MCobian]

I doubt the cause of the drop in Ethereum price is because of the high cost of gas, in my opinion the most reasonable reason is
because the Bitcoin price dump. Based on my analysis, the Ethereum support price is very strong at $ 300, so it is unlikely that
Ethereum will go down back to $ 200. Right now the Ethereum price is starting to go up slightly by around 0.3% to the price of $ 347.
So there is no need to worry about falling Ethereum prices, I predict that in the next few weeks the Ethereum price should return
to the price of $ 400.