Why ETH price keeps decreasing?

[dansus021]

not just eth but the bitcoin too, the world economy right now is not at the good shape and it have impacted to crypto aswell. and after merge the eth doesnt make the price move up in fact i just lose on eth when i long in binance futures but the price is keep going down 

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[Humility4sure]

From what we can see in the cryptocurrency space, the decreasing price is not only affecting ethereum but almost all the projects in the market. Bitcoin is not left out as the value has been on a down trend for a while now.
No doubt, ethereum was expected to pump following the completion of the merge, but I guess the market forces tied to Bitcoin is strong.

[wxa7115]

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/

Markets have inertia, just because a good news comes up this is not going to change the way people feel about an asset or a whole market in an immediate way.

So this is a process which takes time and you will need to wait for the positive news of the ethereum network to be reflected in its price, how long should you wait? At least a few years if you ask me, as there are many indicators which point out to the markets being in a bad shape and we do not know when things will improve.

[hd49728]

Markets have inertia, just because a good news comes up this is not going to change the way people feel about an asset or a whole market in an immediate way.

People forgot that we are in a bear market. They did not realize that if The Merge is something too big and can have instant effect on Ethereum network, transaction fee, for users and developers, it should not be released in bear market.

If they understands it, they should not get greedy to much with The Merge. Because lot of works and upgrades must be done after The Merge. So next bull run, we will likely have them from Ethereum team, not in this bear market.

So this is a process which takes time and you will need to wait for the positive news of the ethereum network to be reflected in its price, how long should you wait? At least a few years if you ask me, as there are many indicators which point out to the markets being in a bad shape and we do not know when things will improve.

I believe that they are working to release it in next bull market, in either 2024 or 2025. I believe Ethereum can touch $20,000 in 2024 or 2025 with such upgrades.

[libert19]

In bear, coins keep decreasing no matter how good the circumstance may be, and in bull even an ama news would shoot coin up through sky   

[Zanab247]

Since Bitcoin price is still low in this bear season other coins price will be low too, because Bitcoin still remain the king among other cryptocurrencies, whenever Bitcoin price is increasing in the market, Ethereum price will be increasing too. I guess, Ethereum team are seriously working to ensure Ethereum price increase higher before the end of this year for both long term traders and short term traders to believe that Ethereum still remain in second position among cryptocurrencies.

[KennyR]

In bear, coins keep decreasing no matter how good the circumstance may be, and in bull even an ama news would shoot coin up through sky   

Being speculative, this is how the market used to move. The market sentiment for ethereum over the last thirty days seems to be on the declining side. There is small bounce in the market over the last 24 hrs and this has made ethereum go $1300+ in price. Parallel to the same there is more bearish moves incoming over the next five days based on prediction from experts. This will set the price between $1050-$1100. Everything is based on the ongoing market trend.

[globalpain]

not just eth but the bitcoin too, the world economy right now is not at the good shape and it have impacted to crypto aswell. and after merge the eth doesnt make the price move up in fact i just lose on eth when i long in binance futures but the price is keep going down 

Yes, we know that the market is still bearish, plus the global economic condition is not doing well and this indirectly affects the crypto market as well.
merging Ethereum does not mean making its price automatically go up,
maybe when the Ethereum bulls will rise, we'll see in the future

[danherbias07]

The hype is over about the Merge, expect a correction in the Ethereum market.
Now, if there will be a reason why it should increase again I think it's because of the good news about the staking process. The number of profits that will be shared by those who bought 32 Ethereum or more as a validator.
Right now, it's a good thing that it's going down for those looking for an entry point and wanting to join in. This could be their chance to reach the minimum amount to stake at home.

[GelatikKembar]

The hype is over about the Merge, expect a correction in the Ethereum market.
Now, if there will be a reason why it should increase again I think it's because of the good news about the staking process. The number of profits that will be shared by those who bought 32 Ethereum or more as a validator.
Right now, it's a good thing that it's going down for those looking for an entry point and wanting to join in. This could be their chance to reach the minimum amount to stake at home.

Staking on Ethereum seems to have to have a large capital to get a good profit,
especially at this time the very expensive price of Ethereum makes it difficult for people to buy just 1 ETH.
moreover to become a validator is also not easy, Ethereum Merge will only have a bad impact on Ethereum I think.

[bitzizzix]

All because bitcoin can affect all coins, and bitcoin and cryptocurrency market sentiment is often influenced by various factors, such as expert forecasts or political events and so on.
However, if analyzed in a broader time frame, it turns out that the price of most cryptocurrencies especially ethereum can be very dependent on bitcoin price movements.
and even if ethereum or any other coin increases, it won't take long, it will eventually fall back down as long as the bitcoin price goes down.

[Argoo]

not just eth but the bitcoin too, the world economy right now is not at the good shape and it have impacted to crypto aswell. and after merge the eth doesnt make the price move up in fact i just lose on eth when i long in binance futures but the price is keep going down 

Merge is not the main point that can pump the price of ethereum. Ethereum itself is still rely with bitcoin. that doens't make sense if ethereum was pumping alone without bitcoin being pumped first. i meant we must also realize about the fact that if these days ethereum was not doing so good. So many people expect merge to create hype but none happened.

Everything happens logically: the entire cryptocurrency market continues to fall in price, so ethereum also falls in price. In addition, the update of the ethereum network has not yet been fully completed. Yes, and everything needs to be rubbed and subsided. Therefore, you need to wait until the market starts to recover. Ethereum will still show a good price growth rate. This is one of the most promising for the growth of cryptocurrencies. Everything has its time.

[Xal0lex]

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

Because it's in a bearish trend right now and fundamentally the market is extremely weak. ETH suffered some turmoil in September after the move to PoS. The coin lost over $50 billion in capitalization. ETH was growing till mid September only due to speculations from those who expected ETH to grow fast and make fast money on the price difference. After the merger happened, all those speculators left the market in a hurry. Now we shouldn't expect anything supernatural from ETH.

[BIT-BENDER]

Well there is no accurate answers as to why Ethereum price keeps decreasing but I can say too many activities are been carried out on Ethereum of recent.

From the merger to now thousands of Ethereum burned all of this can have its short term effects which is what we are seeing right now on Ethereum. But if I were to be a holder I won't panic because the long term situation of Ethereum is looking bullish.

[tvplus006]

...I guess, Ethereum team are seriously working to ensure Ethereum price increase higher before the end of this year for both long term traders and short term traders to believe that Ethereum still remain in second position among cryptocurrencies.

Raising the price of ETH is not the responsibility of the team. Since the main task of recent years has been implemented and the Ethereum merger took place last month, the team sets itself the next tasks related to increasing the Ethereum bandwidth and reducing network fees.

[adzino]

Zoom out and look at the chart. Look at the price before the merge and after the merge. Before the merge, people kept on buying the coin with the hope of making some quick profit. This made the price go up a lot within short period of time. As soon as the merge took place, those who bought early, started to sell their ETH to take all the profits. Hence the price of ETH started to fall and a correction took place.

It's because of the trend.

Bitcoin is still the reason why it hasn't move that much even after the merge and from being pow to pos. And as the CPI report has came out, there's still another reason why it wouldn't go up.

Well, it's going to be a matter of time again until we see it move. This verifies that we're in a bear market and it could stay in there for quite a while.

It did move a lot after the merge. But in the opposite direction.

[TimeTeller]

Zoom out and look at the chart. Look at the price before the merge and after the merge. Before the merge, people kept on buying the coin with the hope of making some quick profit. This made the price go up a lot within short period of time. As soon as the merge took place, those who bought early, started to sell their ETH to take all the profits. Hence the price of ETH started to fall and a correction took place.

It's because of the trend.

Bitcoin is still the reason why it hasn't move that much even after the merge and from being pow to pos. And as the CPI report has came out, there's still another reason why it wouldn't go up.

Well, it's going to be a matter of time again until we see it move. This verifies that we're in a bear market and it could stay in there for quite a while.

It did move a lot after the merge. But in the opposite direction.

And because btc is still in the seemingly bearish position, eth can't continuously increase its price also.
Remember, even eth market is also following the trend of btc up until now.
So the eth's price won't skyrocket its price as most holders are expecting after the merge.
Maybe, once btc is out of the 20k level and starts going up, ETH should follow thru the trend.
But in my opinion, eth holders should not panic or worry, because eth is one of the valuable projects in this market.
They may not see the increase today, but definitely, it won't disappear and it is only keeping up with the btc market performance.

[erep]

And because btc is still in the seemingly bearish position, it can't continuously increase its price also.
Remember, even eth market is also following the trend of btc up until now.
So the eth's price won't skyrocket its price as most holders are expecting after the merge.

When the bear market does not support price increases, ethereum marge and even Constantinople also do not experience price increases as expected, then we must take advantage of current conditions to increase our portfolio assets because ETH coins are very potential for long-term investment, we only need to wait a few months for the phase recovery and will be ready to enter a new bullish phase.

[Yogee]

What goes up must come down. It's been pumped prior to the merge so it's only a natural thing to slow down after it happened. Another thing is that the global market is down and it affects almost everything. Have you seen how traditional investments and bitcoin reacted to the latest CPI report?

[Oneandpure]

Ethereum marge have completed on not the right moment trough bear market and Bitcoin price still drop and Ethereum have allowed with Bitcoin price keep going drop. Current condition market not support with Ethereum although have success merge and keep not effect to make price keep going up. Have difference reality and price if Ethereum merge considering Bitcoin at higher price and market condition support make ethereum reach higher price.

Another failure why Ethereum still down although have merge because CPI update not give positive side, last time update from CPI all market have bearish and Bitcoin drop drastically almost at $18,000 before last days going up to $19,000 and Ethereum down under $1,200.