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

[ethereumhunter]

I only know that this time is the correction for ethereum after the rally happens at the market. We do not know what the real reason for that is, but when the price is a dump, many people still panic, and they are not ready to see the price is down. But that is happening now and the price now is down. The other reason that I guess make the price is down because ethereum price follows bitcoin price, and bitcoin price now is down a lot. So maybe you can analyze more to find the reason.

[shoreno]

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.

fees is also my lead but if this was the only reason then eth should be the only coin that will drop and not btc and the rest of the gang  . dont tell me that they also have a problem with the fee but nope they dont have .

maybe btc do knows something about the drop of the altcoins like what most of the users of this thread are suspecting . theres no major recovery in btc yet so lets chill for a while and in the meantime lets stay tuned for the news to know if theres other reason for this dip

[MishaSER]

Guys, I read your comments and I want to ask. Can anyone explain what kind of news this happened. I understand the market cannot grow forever, etc., etc. But who provoked?

[xzone]

I think there is nothing to be surprised about. Nothing ever goes up in price. Newcomers should have seen this situation too, after all, someone has made money and has to return to cash. When the panic sales also came, prices fell very quickly.
There have to be fixes from time to time, otherwise it would be too dangerous to invest. Thanks to these corrections, we are seeing healthier and longer rises. Remember that we are still in the bull, things will be different after a few days

[ololajulo]

...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 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.

The dump is not up to 30% and we have seen worst at over 30% dump even in a bull market and it gets back. Ethereum has not been impressing even in this bull market so nothing surprising, sadly the gas fee is still high, so it is not only when the price is dumping that gas prices go up. Maybe more money will go to altcoins after this dump, it could give impression that fund is not coming in there for now.

[meldrio1]

If you check the market now not only ethereum that dropped so much seems almost all in the cryptos went down so bad. I guess the bullish time is over so it's time to bear I think. I'm not fudding I'm just speculating the market that could possible the bear market will come.

[max6575]

release of statement from minister of treasury gives on consequence as the price might be as well to drop due with inpopularity of option with chance of occupation. minister advises retail investors to stay away from crypto token as might have with risks on losing funds. that is what we read in media today.

[akirasendo17]

I think bitcoin has also impact with ethereum price, but I think the most notable one is the gas price for transferring and swapping token in the ethereum network, imagine if you are going to swap worth 50 USD your fee is like 150 USD, will you go to use or swap the coin? most of the trader goes to binance chain because of cheap fee and faster transaction, also I think the binance stopping ethereum withdrawal and deposit make it worse, and it favored binance.

[Apostlekin$$$]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

You make it sound as if ethereum is the only coin dropping, isn't bitcoin the first coin that other coins are looking up to? What is the price of bitcoin right now? 47,800$ so tell me, how won't Ethereum be affected? If bitcoin recovers ethereum will definitely revaluate too

[Xxmodded]

Bitcoin have lower price from $57000 become $48000 and give impact for many altcoin and exactly ethereum always allowing how bitcoin price, so far when bitcoin going to the top price ethereum always have the same price and going up, so when bitcoin down just waiting with lower price to buy ethereum, still not stable until right with how much bitcoin correction, will going down under $40,000 or bitcoin will back to higher price again.

[GideonGono]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

The market is now starting to turn red most of the crypto are dropping down and it has been how the market works you couldn't expect it to be always green or always increasing,
Are you expecting the investor to only invest on it and they wouldn't take their profit I think it would be normal for the market to have this kind of cycle once in awhile specially when it gets so pump.
The easiest way to explain what happened in the market is that most of the holders decided to take their profit.

[Ozero]

Guys, I read your comments and I want to ask. Can anyone explain what kind of news this happened. I understand the market cannot grow forever, etc., etc. But who provoked?

For a correction, even a deep one, like now, a serious reason is not necessary. There could be several large sales of batches of bitcoins, which provoked the general drop. Now CoinMarketCap shows a drop in the price of bitcoin to $ 46,782, and ethereum to $ 1,533. Both coins have declined 11 percent over the past 24 hours. So it wasn't just ethereum that fell. Roughly the same drop across the entire cryptocurrency market. This is normal for this market. To grow further, a correction is needed.

[sayaya17]

The price of ethereum can drop as much as 20% it's not  something that is  troubling should be. Since it has been several  months  the price of ethereum
continues to peak, so it is impossible if ethereum continues to move  straight. All altcoins and  bitcoins will experience  this. For that, we as someone who
has experience in the crypto industry must have understood this. Especially if bitcoin is in decline as it is now, altcoins will also experience the same thing.

[AliMan]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

Basically it's the point here, long term holders have decided to dump and their mindset was already profit. They're thinking to do buy and sell this time in order to increase the quantity if their holdings. By the time of recovery they'll able to gain much higher returns. Whales don't care of losing, because if they won't risk they'll fail to grab the chance to earn much even bigger profit.

[Xxmodded]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

Basically it's the point here, long term holders have decided to dump and their mindset was already profit. They're thinking to do buy and sell this time in order to increase the quantity if their holdings. By the time of recovery they'll able to gain much higher returns. Whales don't care of losing, because if they won't risk they'll fail to grab the chance to earn much even bigger profit.

Lucky every one hold and save assets in USDT during bitcoin or altcoin have lower price, I think good moment correction just one day and now bitcoin or ethereum back to higher price, not worry and confused because chance coming not every time, so looking ethereum dip lower price from $2,000 to $1,600 give you chance to buy back and now you have earn much profit if buy much, but if you worry maybe you loss opportunity to get profit.

[TelolettOm]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

The dump of bitcoin sent the entire altcoin market into a big dip. almost on average it has decreased by 40-50%. I think this is all because of the bitcoin factor which dropped dramatically. Right now, if we check the Ethereum price has increased again and is in the consolidation stage it will continue to be a bullish or down trend.

[carlisle1]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

are you sure you are asking this ? can't you see that Bitcoin is falling and that's why all of the currencies are moving along together with the dump.

It is not only Ethereum that has 20-30% drops because majority of the coins in market are having some experience.

And be ready because this might be the long awaited correction before the final blow comes and will record the Highest value Bitcoin will hold again with the effect of halving and pandemic.

[rhomelmabini]

From USD2000 dropped down to USD1400 for only 2 days?

Anyone knows what is happened?   

Maybe you're newbie to the crypto cycle let me say it straight but when Bitcoin is falling usually almost all of the coins/tokens in the market does the same. The real reason was there are some whales already taking profits but after Bitcoin dominance keeps falling the alts will fly and probably it is showing some signs as the major altcoin (Ethereum) is taking some leads and it backs up again at $1700. This isn't some financial advice but historically this has been done before way back 2017, I wouldn't be surprised if some alts will make some new ATH.

[slaman29]

Chill guys, it's coming back to life. Not sure what happened but I read about a flash crash on Kraken, although really that seemed to be as a RESULT of the coming down from Bitcoin.

And now people blaming Elon Musk and all.

Just a normal correction IMO.

[TastyChillySauce00]

Just very normal correction after price went up so much and now it's already going up again about 20% to almost $1700. The reason? well although most of people here might speculate a lot of things but it seems the current ETH market dumping heavily affected by bitcoin dumping like any other altcoins aswell and there's rumour going around about offloading of thousands btc but now it seems the market becoming green again and probably gonna go back to its former price in no time.