Why ETH price keeps decreasing?

[Abiky]

Majority of cryptos' market value are falling at this period due to factors and if you guys are not new in here, you'd worry not much. Part of its volatility are periods of ups and seasons wherein prices are down or struggling to uprise, just as what we are seeing at this point. If you're quite tied at the middle, then holding would be the best thing to do and avoid selling ofcourse. If you are planning to invest on the other hand, this is a good point to buy but don't expect profit in an instant. At this moment, it is still not clear when will bullish trend enter the market. So invest only what you can afford losing(as being mentioned x10 daily in this forum LOL). However if you cannot endure market downs, then wait for the trend line to be clear before you enter.

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over. Experts are predicting the market will turn bullish again when BTC's block reward halves by 2024. Of course, that would depend on the situation of the global economy. If the global economy worsens, don't expect ETH or any other cryptocurrency to rise in price anytime soon.

I'd just take advantage of this opportunity since it only comes once in a lifetime. ETH is pretty cheap right now compared to its latest ATH, so why not buy and "hodl" some coins for the next bull market? Just my opinion

[1715251535]

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[1715251535]

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[Chainsmokers]

The last migration must have had a great impact. In addition, the gas fee of the second-tier network is really low. It is so low that I don’t want to go back to ETH. I think this is also a good thing. This is also an optimization. Although the currency price It fell, but the product is optimized and perfect.

The gas fee on the ethereum network after migration is still very expensive when compared to Binance Smart Chain or Polygon,
I really don't understand that Ethereum 2.0 which migrated from PoW to PoS can't change that, I as an Ethereum network user for a long time have been really disappointed,
and maybe I'm not the only one who is disappointed and makes one of the reasons why the price of Ethereum has fallen,
yes indeed that is one of the reasons but there are several other reasons, that is the bear market still dominates the market and there are also more and more bad news about altcoins.

[Blawpaw]

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

Traders sometimes blind themselves to the truth they have right in front of their eyes, as much as ethereum lovers do not like it ethereum depends heavily on bitcoin in order to grow, recently we had the transition of ethereum from POW to POS and yet the rally everyone was expecting did not happen, and why that was the case? Because bitcoin was not bullish at the time, if ethereum went over this transition during the bull market the results would have been different, but this only shows how much ethereum and all altcoins depend on bitcoin for their growth.

Yeah, all those unexperienced traders were expecting a surge in price before or after the merge, but instead it went the otherway around. This could be basically foreseen by those who know the fundamentals. Now, if Ethereum was something valuable when it was represented by a decentralized network, logic would point out that it would not be that valuable if it was not decentralized. Eth is now absolutely centralized, so I see no difference from BNB at this point. Now, would you say that BNB would go to 5k as well, and what would be the fundamentals behind that belief??? That is about what I can say to anyone who still sees value in eth...

[Heulahee]

In my opinion, the Eth price decreasing is Eth Merge, and I think it is because bitcoin is not in its stable position, which makes many coins decrease we also knew that from the previous few months, we didn't see a better think in according to BTC, as this will be the big change for it, according to my research.

[alexandr1115]

The last migration must have had a great impact. In addition, the gas fee of the second-tier network is really low. It is so low that I don’t want to go back to ETH. I think this is also a good thing. This is also an optimization. Although the currency price It fell, but the product is optimized and perfect.

The gas fee on the ethereum network after migration is still very expensive when compared to Binance Smart Chain or Polygon,
I really don't understand that Ethereum 2.0 which migrated from PoW to PoS can't change that, I as an Ethereum network user for a long time have been really disappointed,
and maybe I'm not the only one who is disappointed and makes one of the reasons why the price of Ethereum has fallen,
yes indeed that is one of the reasons but there are several other reasons, that is the bear market still dominates the market and there are also more and more bad news about altcoins.

Yes, in general, this whole transition is very doubtful! The PoS algorithm itself is not some kind of innovative solution and in general, it is not entirely clear why and to what this transition was made. There are other coins that work with the PoS algorithm, and it is very little noticeable that they have become popular or in demand only thanks to this algorithm. it seems to me that this algorithm is very much idealized and overrated!!!

[Yamifoud]

Yes, in general, this whole transition is very doubtful! The PoS algorithm itself is not some kind of innovative solution and in general, it is not entirely clear why and to what this transition was made. There are other coins that work with the PoS algorithm, and it is very little noticeable that they have become popular or in demand only thanks to this algorithm. it seems to me that this algorithm is very much idealized and overrated!!!

Yes, it seems the results are pretty bad but I respect the acceptance isn't clear and fast which takes time. However, the development continues and I don't think that Mr. Vitalik will just let this dropping scenario do deeper. But considering the current situation, the demand isn't really high. We can't really expect a price rally at this point but let us see how it improves next year as I guess that is something enough to see how the transition affects the demand.

[newbtc101]

Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.

Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.

Why hasn't this had a beneficial effect on the price of ETH?

Original source:

https://twitter.com/thetokenist/status/1580532690360872961

https://tokenist.com/ethereum-turns-deflationary-but-drops-7-as-market-stays-uncertain/

This shouldn't be too surprising - there have been way too many negative news recently and which affected all projects. Why ETH should be an exception?

[Abiky]

Yeah, all those unexperienced traders were expecting a surge in price before or after the merge, but instead it went the otherway around. This could be basically foreseen by those who know the fundamentals. Now, if Ethereum was something valuable when it was represented by a decentralized network, logic would point out that it would not be that valuable if it was not decentralized. Eth is now absolutely centralized, so I see no difference from BNB at this point. Now, would you say that BNB would go to 5k as well, and what would be the fundamentals behind that belief??? That is about what I can say to anyone who still sees value in eth...

It went the other way around because the global economy is in a pretty bad shape. That, and also the fact that investors were disappointed after they've discovered Ethereum became a centralized "shitcoin". We can never expect prices to rise if there's a lot of negativism surrounding the market. I think it's going to take quite some time before ETH reaches a new All-time-high in price. The same can be said about Bitcoin. Only those who're patient will be able to obtain great results with their investment in the future.

I just hope ETH solves centralization issues, to help fulfill its promise of being the "unstoppable platform for decentralized applications". Otherwise, the idea of Web 3.0 would become nothing but a dream. No one knows what the future holds for ETH, so we can only hope for the best. Just my opinion

[Riodarvg]

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over. Experts are predicting the market will turn bullish again when BTC's block reward halves by 2024. Of course, that would depend on the situation of the global economy. If the global economy worsens, don't expect ETH or any other cryptocurrency to rise in price anytime soon.

I'd just take advantage of this opportunity since it only comes once in a lifetime. ETH is pretty cheap right now compared to its latest ATH, so why not buy and "hodl" some coins for the next bull market? Just my opinion

Many cryptocurrencies have suffered greatly in bear markets. The price of Bitcoin has fallen a lot during this bear market, and since ETH also follows the market trend of BTC, it means that the price of ETH will also fall along with it.
ETH still has potential, wait patiently for a price correction when the market recovers.

[lalabotax]

Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over.

This though may mostly had by beginners or people who are always thinking only for short-term investment with high expectations. And I ma sure that this will not work very well as long as they change their mind about investment in the crypto industry. This is not a way to get rich overnight. this is also not a safe way to make investment to be zero risk, there are always risks. Moreover in the altcoins, the price during this bearish era will be really very sure and string. The people who panic and are not patient with the condition will change their minds by depressing and thinking negatively about certain coins. So, they have high expectations about the ETH prices to rise up, but the fact is on the contrary. ETH price is now very decreasing, but we also feel sure when the bearish ends and bullish comes, ETH price will be able to rise up again.

[BlackPinker]

Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.

Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.

Why hasn't this had a beneficial effect on the price of ETH?

Original source:

https://twitter.com/thetokenist/status/1580532690360872961

https://tokenist.com/ethereum-turns-deflationary-but-drops-7-as-market-stays-uncertain/

If you look around, the whole market is crumbling down to pieces, so why should ethereum be different? The king is going down and is takingall the little kids behind. When Bitcoin falls, the most likely scenario will be to see the big majority of the cryptos following BTC. Moreover, Ethereum is a shitcoin, so I actually do not mind to see it go to 0

This reminds me of someone who said to me that other currencies except BTC may face zero, but I don’t think ETH will be included. After all, ETH is the founding father of the country and will not be discarded by the market in the end.

[sou-kou]

The supply might become lower but if there’s no demand for that, you can’t expect for the price to go up. Probably people are into Bitcoin right now or they hold more stablecoins for now waiting for the right moment to buy more cheaper ETH, and because of the market trend this is a best way to be more safe. The trend influence the whole market, we can’t expect ETH to pump while others are dumping, ETH also rely with the trend of BTC no matter how good the news is.

That's right, the king hasn't moved much, how can the little brother be better?
The main reason is that the entire market is too bleak, and when the market heats up, all currencies will rise.