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jossiel
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October 13, 2022, 05:48:57 PM |
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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.
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GelatikKembar
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October 13, 2022, 05:59:38 PM |
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there are many reasons why Ethereum continues to decline, the first is the Ethereum Merge has finished and made the Hype disappear, because many traders only care about that, the second we are in a bear market, meaning that the Bitcoin price is falling makes Ethereum also go down, and the third is indeed according to chart analysis, the price of Ethereum is certain to continue to fall.
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zasad@
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October 13, 2022, 06:48:30 PM |
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According to May analysts, the price of bitcoin fell by 71.6% from the all-time high, and the price of ethereum fell by 73.4% from the all-time high. And the price reduction for other coins approached 90% or more. The price of Ethereum holds up very well relative to many other coins.
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Bananington
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October 13, 2022, 07:15:45 PM |
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We are still in the bear market so you shouldn't expect any significant increment with any major cryptocurrency for the now. If it if it really is your choice of coins to hold on just keep holding with some expectations of things to get better but generally it has been said that due to the transition in ethereum from POW to POS, the prices may not go so high anymore.
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Lizzylove1
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October 13, 2022, 07:19:47 PM |
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Bitcoin is the king of the cryptocurrency, and it controls the market, every other single project in the market relies on the direction of bitcoin to make a decision. Should bitcoin starts going haywire, every other projects will receive life. Another thing about ETH price is the switch from POW to POS, resulting in a fork which think they should retain POW.
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Muslimin mj
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October 13, 2022, 07:34:03 PM |
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we are currently in an unstable market condition and the prices of other altcoins are also declining, so it's not only ethereum that is experiencing price drops even though the merger process was completed some time ago. but that doesn't mean it doesn't have any after effects. but you have to understand the current conditions or trends. so you can find the answer why the price of ethereum is not increasing.
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TimeTeller
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October 13, 2022, 08:51:02 PM |
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According to May analysts, the price of bitcoin fell by 71.6% from the all-time high, and the price of ethereum fell by 73.4% from the all-time high. And the price reduction for other coins approached 90% or more. The price of Ethereum holds up very well relative to many other coins.
i agree with you. like the price of ethereum still depends on the price of bitcoin and compared to other coins only ethereum has the same decrease and when bitcoin will go up 100% ethereum will also go up 100% and for the OP the other reason why ethereum is still not moving up and the price is getting lower is because the bear market is still going on. that's the most appropriate reason. we can see when the bull come ethereum will give a very good price As ETH is also following the market trend of BTC, expect that it won't fly high anytime soon. But as BTC starts to pump up again, more than likely, ETH will follow thru. The good thing about ETH is this network is not just a crappy project but has a solid foundation that won't disappear when you wake up. It may be down today, but the likelihood of recovering is very high, unlike those meme tokens or other pump and dump projects.
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fvb
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October 13, 2022, 08:57:47 PM |
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Because that's the trend right now. And rightly here you were told that this is not one reason, but there are many of them at the moment. But I think that this will change in the future, I can't say exactly when, but maybe very soon.
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BIT-BENDER
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October 13, 2022, 09:09:32 PM |
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Don't know if someone has told you this but it does not take only the supply chain to increase before and increase in price it works side by side with the demand. Although like you I am surprised that Ethereum has not given us a significant rise even after the merger and other things that happened to Ethereum recently.
Ethereum is one of my favorites coins and if I were to get interested in Altcoin Ethereum would be my next option. The usage of this coin remains actively continuously making it a long term successful coin.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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goaldigger
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October 13, 2022, 09:14:26 PM |
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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.
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Jating
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October 13, 2022, 09:19:59 PM |
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The simple explanation is that we are in the bear market, and with that, there are more sellers vs buyers. And even if there is hype around the merging and supply is dwindling, there is not that much demand in the market.
And to be fair, it's not that ETH that keeps decreasing, majority of the altcoin market is suffering from -70% to -90% down from their all time high. Which mean it is cheap so take advantage of the situation and accumulate cheap altcoins right now.
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serjent05
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October 13, 2022, 09:20:28 PM |
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The ETH market is dictated by supply and demand. At the current market trend, the supply exceeds the demand, one of the reasons why the price of ETH keeps on decreasing. Aside from that, the previous merge hype also has something to do about it. We all know that the whole cryptocurrency market is at a bear trend but ETH rallies due to the hype of merge and now that the market is back to normal, the market of ETH goes back to normal and since ETH was overbought, it tends to have a correction. Aside from that, many thinks that due to the minting of ETH become cheaper, the market will also adjust according to the needed fund to mint/mine ETH.
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btc_angela
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October 13, 2022, 09:40:10 PM |
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It is obvious that we are in bear sentiments isn't it? So there is no amount of hype that can make a token rise in this cycle right now, not even Bitcoin and Ethereum. If there is, expect that it is just pure pump and dump. Yes, it's good Ethereum supply is getting limited, but if there are non buyers, this news will not affect it's price and it boils down that investors are not willing to buy because of the negative sentiments.
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bittick
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October 13, 2022, 09:40:51 PM |
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I guess it was caused by the second layer smart contract that was already eating big shares of eth markets all in all, even after the merge, eth value still isn't moving, it's still stuck, the demand for eth decreases because there are many 2nd layer solutions that's just better than eth in general, moreover their gas fee are significantly lesser than eth, no reason coming back to eth again therefore eth lacking demands, I think that's the reasoning.
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Jackl87
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October 13, 2022, 09:42:05 PM |
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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.
Well to be honest i also have a hard time to understand why the longterm trend of ETH is downwards in the last few months even though you should think that it would be the other way around because now Ethereum is deflationary and you would think that the FOMO should now kick in slowly but surely. I would guess that the fact that it becomes deflationary was already priced in during the last bullrun when it became public that ETH would switch to PoS and that it would become deflationary with that move. Now that fact is very old news already and not a lot of people are buying because of that fact anymore.
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Hamza2424
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October 13, 2022, 10:23:58 PM |
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According to my Openion the point is we are now confused as ETH was Diflationary coin before the merge but for now the ETH seems to be and inflationary coin that can be a reason for your question. As i am not sure about it still that what i think. The whole market is going through the captulation and so far ETH too. So don't worry lets see what happens in the Bull run.
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strunberg
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October 13, 2022, 11:45:53 PM |
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You can't even call a pump during the bearish trend easily. The big update meant nothing when it was being launched during the bearish trend like this time. I think that anyone also aware about this too about how harsh the bearish market right now. There are so many things that may be changed in the future. The problem is people didn't even aware about this and keep yelling bullish to come during the winter season.
bearish trend still give bigger influence to crypto market ,and maybe ethereum investors now taking profits after eth hype gone when POS migration done. Its market psychology that need to explore , fundamental sometime didnt work in hard bearish trend. I Saw some strong altcoin with recently released main fundamental but market said it just temporary work.look at RSR mainnet live now but price keep declining.
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Rengga Jati
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October 13, 2022, 11:55:11 PM |
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You can't even call a pump during the bearish trend easily. The big update meant nothing when it was being launched during the bearish trend like this time. I think that anyone also aware about this too about how harsh the bearish market right now. There are so many things that may be changed in the future. The problem is people didn't even aware about this and keep yelling bullish to come during the winter season.
ETH is actually experiencing the same situation as other altcoins during this bearish era. Many altcoins cannot pump, except the new coin or token listed by the new projects, some of them have high pump but after that? they are also falling down. SO, we cannot see Ethereum to be fall down was only in one opinion. During this bearish, many altcoins including ETH is struggling how they can be stringer every time, to be far away from the bottom, and keep increasing. But the market is always unpredictable and FUD is always spreading. Just be patient and wait for the bullish coming.
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merekamo
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October 14, 2022, 12:30:54 AM |
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This doesn't seem to be happening now, last month it was like that, and the year before that it was like that too. There are many factors that come into play in predicting how well an asset will perform in the ETH market.
I think, for this case there was a previous dip in the market when the ICO was cashed out and it didn't make any real impact on the ETH price.
Another reason why the price of Ethereum is not rising despite the reduced supply is that demand is relatively stable. It's just that there isn't a strong enough market for ETH to push the price up at the moment.
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