Why ETH dropped 20% from the high peak? Anyone knows?

[gathermind]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

[tvplus006]

...Anyone knows what is happened?  

It is naive to expect that at a time when bitcoin has lost 30% in its price, the price of ethereum and the rest of the cryptocurrency will remain the same. It will take some time for the price of bitcoin to gain a foothold above 45 thousand dollars. In this case, we can see further growth of the entire cryptocurrency.

[gurunanakji777]

Not only Ethereum majority of the coins dropped hard till I am replying to this post. The market correction was not happened for long and one should always prepare for the correction and should not be tensed by the correction. It will rise back till then we should wait. Even we know the market rises aggressively in the last several months and this correction is expected so do not worry. Wait for some time you will see again green market.

[Fivestar4everMVP]

We all know that Bitcoin has the highest dominance in the entire crypto market and as such, controls almost the entire coins and tokens that exist in the crypto space except the stable coins and those backed  by gold or silver or diamond, so this is to say that any stand alone cryptocurrency is likely to go up when bitcoin is up and go down when bitcoin is down , so Eth dropping 20 percent of its value when bitcoin has already loss like or over 30 percent should be understandable to anyone whos already familiar with the way the crypto market works.

[crwth]

I agree with Fivestar4everMVP it has something to do with the Bitcoin dump. I'm fairly certain that there are some institutions that insinuated that selloff and of which is not bad. I think this is a fair and healthy correction since it has risen quite fast in the last couple of weeks and it can be a correction up to $45k to $46k range IMO.

[Distinctin]

I see the huge decline since yesterday and the sad thing is that there is no recovery yet to happen up to this, the price tends to drop continouosly. We never heard any news but this is the effect of the GAS fee that we all had to suffer. Only a few now are buying Ethereum as the majority are choosing other potential coins that could save them huge fees and also profitable. We can't just ignore this as we are also spending the funds wisely and we need to find another way.

[lousie9]

actually not only Ethereum, but the main coin in the crypto industry such as Bitcoin have also experienced a major correction in the last 24 hours and this decline has also had an impact on several other cryptoqurrencies. I don't know the reason for this decline, but it's usually influenced by negative news and other negative things. but I hope it will not last long and the market will be back to being conducive soon.

[harizen]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

Should not be a big deal "for now" so treat it just another day in the office. The dropped is expected after all even during the peak. As you have noticed, it's not just ETH but other coins dropped their price too, even BTC.

For your reference, you can check the news about why BTC dropped. From there, you can conclude why this is happening.

Also, don't focus on the drop but how much it increased since the surge started.

[Henrobakkara]

actually it's not just ethereum that is experiencing dump but all the altcoins in the market also and the most powerful reason the current price drop is because bitcoin is also experiencing dump

[dihari]

After long observation from my old grandpa about cryptocurrency, he is finally make a conclusion : There is no technical analysis needed on crypto market. It's all only fundamentals. And of course that's applies to ethereum as well. Even we keep talking about moon everyday and or the support buy still strong there, the market always determine it's self price. No one really knows what really happen. It's just crash.

I still on my prediction, if ethereum still with these unreasonable gas price, people will move their money to something with acceptable fee. And of course, it is drive the price to the bottom.

[semobo]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

That is the nature of crypto currencies for sure and it is not possible to say what is the actual reason for this. Maybe this is the correction required to begin the new all time high or even it could be the end of bull run, nothing can be said fow now. Prices are still falling!

[masterrex]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

Thats how the crypto market works not all the time is green, maybe its the correction time, but until when this price drop continues thats another question that only time can answer, but for now lets stay positive and hoping that the green candles will return as soon as possible.

[Jackl87]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

I haven't seen any news yet that would explain the sharp drop in price today. But well we are in the crypto space 10 -20% up or down in 1 day are not that special and can probably be compared to 1-2% in the traditional stock market.
We had a pretty long continued upward trend so it's not that surprising or concerning that a small correction happens now. At least the drop seems to be stopped now and ETH seems to stay above 1500 for now.

[avikz]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

It's not ETH only. All major cryptos have dropped!

It's not cryptos only. All major stock markets around the world have dropped!

So I assume it's a correction that we were expecting from a long time. Any increase without correction is fatal. So it's was anticipated already! I don't think anything special or out-of-the-box has happened!

[Lagduf]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

It's caused by there's a bitcoin whale that created a quick sell-off in the market and that was luring people to dump their bitcoin. that makes the price of ethereum goes down again.

https://cointelegraph.com/news/whale-who-sold-bitcoin-before-2020-crash-cashed-out-156m-before-this-week-s-20-dip

You should read the full report on that link and I guess that whale was giving a very big impact on a lot of markets. The panic sell of has been making the dump even worst caused by people wanna to sell their coins.

[In the silence]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

You should know the phrase "One coin to rule them all". Clearly, bitcoin is dragging all the crypto all the way down to $44k recently and is now recovering.
Ethereum is still undervalue and fixing the gas issue will make its price skyrocket.

[TribalBob]

I think it is not only ETH that has decreased, almost all coins have fallen, my BTC has dropped especially below it, rumors have that one of the ministers of the American finance minister gave a warning 'The dangers posed by bitcoin to investors and the public "
maybe this is what causes all to blush

just my opinion

sorry i can't give a link because i read this news in my language

[deathcode]

The market is in a correction, my friend. you just need to secure your money or stay in your investment. if you invested ETH during yesterday's bulls I hope you don't panic quickly. now think clearly and make your decision.
after all, that's not the case with ETH alone. you can see it happening to almost all crypto assets on the market.

[shinratensei_]

It's quite simple
bitcoin dump and the whole of crypto will be following it. You can't expect the forever bullrun. There will always be the party that wants to take the opportunity by sold their coins at peak price to buy again when the price was dipping. All of the cryptos are going down right now and it's not the only ethereum that got dumped.
Something bad is happening with bitcoin and that creates massive sell in the market. Someone was dumping a lot of bitcoin maybe.

[ije07]

Yes. as we know that coin prices are very volatile or can change at any time. like the current market conditions for crypto in the last 7 days bitcoin and ethereum experienced the highest increase of all time and vice versa I also observed that in the last 24 hours the crypto market experienced a very large decline. And you need to be careful especially for those who buy at high prices, I mean to always monitor your portfolio and know when to enter and when to exit.