Why ETH price keeps decreasing?

[irhact]

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.

That's just one of the signs that you're in a bear market, during this times nothing matters. Even the goodnews that were might the pump your project gives the opposite result. Everyone is scared and are pulling their money out daily because the market keep dipping. When you'll start benefiting from all the development that came to your project in the near market is when the bulls are back. Every goodnews in this time of the market is seen as an opportunity to pull some money out which is why even when a coins wants to pump, it can't keep up the strength as the amount of money leaving the project is more than coming in.
Ethereum is a good project so the short term price decrease shoudn't scare you as in the long run you'll stand to benefit from investing in it. After Bitcoin, Ethereum is the only other project that one can trust in as it's the backbone of other tokens as they rely on her blockchain to function.

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[blue_hurricanger]

Mainly it got overhyped and overpriced from The Merge event. ETH went as low as $800 back when BTC was @$17k and came back to double of that $800 once The Merge come near. You had to see how much it was increased compared to BTC or other alts to know why its price decreased so much and it'll keep on the decline. Yes, the Merge gave it a strong push and now it has to come back to around sub $1000 after it ended. Maybe a bit more since the PoW miners can't issue ETH anymore but that's it. Not to mention about recession loom large which alts usually bleed harder than BTC.

[bounceback]

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?

I think it's only natural that the price of Ethereum coin does not increase in price even though it has recently reduced supply because at this time we are still in a bear market which makes many investors panic in the market and they decide not to rush to invest their funds in times like this , so it's not surprising to see when the bear market comes, many coins experience a decline in price even though basically these coins are very promising for the long term.

[Ziskinberg]

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

What you have missed is that you never check the status of the market. We're in the bear season, all crypto prices went down and even Bitcoin has no excuse. You never be surprised and ask yourselves why because at the moment that Bitcoin will dump, ETH and the rest of crypto followed. Well, I'm not sure if you often check the market chart or in https://coinmarketcap.com/ as certainly you will see what really happens now. In fact, the dump started in the first quarter of this year, perhaps you can see on the marker history.

[piebeyb]

don't we all know that we are in a bear market and keep trying to make the crypto market recover, no new money is coming into crypto and maybe not many new investors are coming to invest here, that's why the price of ETH is not going up as well as bitcoin with mining block reward income is low but the price remains in the $20k area which in my opinion is still fairly cheap, everyone is just speculating and analyzing from what you read out there but keep in mind that we need more time to recover this crypto market, about 1 or 2 more years so buy it now while it's cheap

[Uzairjutt275]

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/

In my experience ETH price will be decrease due to bearish market. Crypto Market dump continue from previous month. So the price of Bitcoin will also be dump. I think almost all altcoins will follow the price of BTC. So ETH price will be decrease due BTC is dump.

[ningrum]

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position  Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

[d3nz]

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position  Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

There are a lot of reasons why the value of ETH is plummeting, it could be the latest updates recently about the merge or going along with the value of BTC. The only good thing that we are on a bear market, we can hoard more altcoins and BTC while the value is really on the dip.

It would be much better to only check for the real news not the FUD one before making any move regarding the market, or with your instinct if you think the market will go up or down.

[samuraijin]

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position  Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Indeed when Bitcoin goes down it will be followed by other altcoins although not all of them,
regardless that the price is going down i am not too worried and panic about it because if we are like that then we can make wrong decisions and cost us,
keep calm and take advantage of the moment to buy

The bear market still haunts all crypto markets, plus the world economy is getting worse, not to mention the inflation that has occurred in the past few months even today, the impact of the war between Russia and Ukraine continues, so that's why all the world economy and the crypto economy too affected by the recession that is happening all over the world, the thing to do is survive this recession, if you have money then it is very good for us to buy it when prices fall, so that we are not affected by the global recession that we are feeling today...

[wxa7115]

I think this has something to do with yesterday's merge. We will feel the impact now, it is also supported by the current state of the red market. But don't worry I think, ethereum already has a big name, they will definitely recover easily in the near future.

The bearish market is the cause of many altcoins including ETH also continuing to decline, this is a tough challenge for us, if we don't really need money then I suggest to continue buying ETH, I believe the huge potential of ETH in the future is very good.

The global economic condition has been affecting the blockchain market negatively so most cryptocurrencies even Bitcoin are dropping drastically. We already know the potential of Ethereum to reach a good price so the price drop isn't something to feel bothered about. I'm sure that when the global crisis gets better, the blockchain market would also recover so accumulating Ethereum and other potential altcoins this time would be the best decision that we can do. We must take advantage of the situation rather than worry about the bearish prices of altcoins.

One of the great things about this market is that we could see a recovery whether the economy recovers or it begins to do even worse.

It is easy to see how this would be the case when the economy recovers as people will be more willing to take risks and invest once again in this market, but even if the economy began to go down this market still has a chance of doing great, as during those circumstances many people will lose faith on the ability of the governments of solving the crisis and they will see in this market a bunch of assets that are not completely controlled by the governments and that will make them attractive at the time.

[cheezcarls]

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/

Just like what I have assessed, ETH's merge news will only increase the price temporarily before it got corrected once again. As what others have mentioned here, the crypto market seems to be quiet due to the ongoing bearish trend.

Right now we are sitting between $1,200+ to $1,300+ on ETH price. As long there is nothing new that would definitely hype the entire crypto market, expect that this would be a very long bear market.

[KaliLinux]

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/

I don't think even with that, the Ethereum price will suddenly go against the market trend. The general market sentiment is in a bear trajectory now and the Ethereum price will follow the same pattern.

It pumped last month because of the merge and now it's hovering because the momentum has been moved to other assets in my opinion and of course not just ETH not moving so well, bitcoin as well. It's just matter time that we see ETH to recover again hence we are still in bear market season. So it's expected for the price to remain stable, for now.

Are you saying that Eth merge was the reason the general market pumped a bit last month taking BTC and other major Alts along with it?
Just look at the price chart between July 12, to Aug 16 2022 which I believe you are referring to, the effect of the ETh marge couldn't have affected every major crypto in that same time period upward before it dropped again. I still say it was the general market trend and not the marge effect but I think the ETH price might have a good boost when the market trend changes, (Next Bull market.)   

[Oasisman]

It pumped last month because of the merge and now it's hovering because the momentum has been moved to other assets in my opinion and of course not just ETH not moving so well, bitcoin as well. It's just matter time that we see ETH to recover again hence we are still in bear market season. So it's expected for the price to remain stable, for now.

Nah, I don't think the merge has made a noticeable effect on ETH price. It seems like there are no good improvements/innovation that could be impactful enough to change the course of the whole crypto market these days, especially during the surging inflation and economic problem that we're currently facing globally.

It would be most likely that the crypto market would recover late in 2023 or early 2024 or even after the Bitcoin halving.

[Kelvinid]

I saw some people expecting a price increase after The Merge was successful, but the fact is that the market doesn't work like that, Bitcoin can influence the price movement of Altcoins, because the market capitalization of Bitcoin is bigger than altcoins, there are many factors why the price of ethereum goes down, but the main factor is the market situation.

The dump in inevitable, no one knows about it until it comes. Like we expect a price rally after the merge but too unfortunate the it works in an opposite way making a lot of people waiting become disappointed. Though I understand their feellings, however, we can't blame the market and even the merge bcause there are a lot of factors affecting the price. Remember that we are in bear season, we have not expect such a rally but obviously a dip. Might say the merge is in imperfect timing and this is how it looks like after.

[CuriousGeorge]

Bitcoin is the first coin of cryptocurrency and basically bitcoin controls the entire cryptocurrency market and now bitcoin is in a huge dip due to which all the altcoins including ethereum are falling in price now but there is no reason to fear because when bitcoin recovers and goes to a good position  Then Ethereum and other coins will immediately return to their previous positions and do much better than before.

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Stock market was dropping, bitcoin was also doing the same thing like stock market and then altcoin coins were following the bitcoin and stock market. This is how economic works. The only problem is if there's no ETA for when that gonna happen. I meant look at the face in the market.
It seems like that if there are so many uncertainties for now. This can he true consider from what happened with btc now.

[irhact]

Bitcoin also dropped and this is a sign that almost all altcoins will drop, but as investors we must be optimistic that the market will improve soon so that by continuing to buy when bearish will make us get a big profit and I'm sure soon it will happen.

Not almost, all altcoins drops when Bitcoin does drop in price. Some gets the effects immediately while others take sometimes but provided Bitcoin isn't having a good time so do other projects. This is mainly because all projects are traded against Bitcoin and Bitcoin is the face of the industry. Investors look at Bitcoin before investing into any projects. Ethereum I'd dipping also because it high an impressive run towards the merge event and since that is over, the market is experiencing some cool off
This is normal and shoudn't cause much panic as firstly, we're in a bear season and shoudn't be experiencing a continuous price increase for Ethereum when other market are bleeding.

[Hamza2424]

For this dear, You need to understand the Fundamentals of the ETH let me explain it as much as I know these things here. Well bro ETh was the inflationary coin before the ETH Merge as the daily total supply in the market was less the total burning of the day which means consistently supply was decreasing but with the Merge now ETH is an inflationary coin and the total supply is increasing consistently. That is the major reason for this Regular price panic in ETH.

[awik p]

In this case bitcoin is still the main reason about the price of ETH is still declining, so in this case we need patience to wait for market developments to occur again, even though the current decline has been going on for quite a long time but everything needs a process to return to be able to reach a new ATH for each coin, so the most important thing right now is that we must continue to monitor every movement of the coin and must be able to make every decision in order to take advantage of the state of the market  bear to be able to make a profit.

during a bearish season like this time, bitcoin becomes a parameter for all altcoins in their development, because many say that bitcoin is the mother of altcoins, so it is like a chick following its mother where its mother goes. so we don't need to worry too much about this, and of course many of the altcoins are experiencing extreme decline, this can be a selection of residents who can survive later, but it will be different for eth which gets a lot of trust, then of course it can survive and reach ath new later

[Jating]

The price is decreasing due to this major reason.
The demand of the coins are comparatively less. If you visit an exchange then you will find that there are more sell orders then buy orders for ETH. This is happening due to the demand decreasing and there are good amount of ETH present in the market to buy/mine . So when the demand will increase again, the price will also go due to fix amount of supply of ETH. And this will happen very soon, as ETH has very big marketcap.

Yes, everything is based on the law of supply and demand, that is the basic of all economics. But if you look closely, one reason is that we are in the bear market, everything is done from their last all time high, including bitcoin.

And so even with their merging news, which put the price prediction to at least $2,200 didn't happen because investors are not willing to take a risk. There is also the recession that everyone is feeling and then still the war in the background. And so there are a lot factors that really contributed to the current bear market that we are seeing.

[capedbaldy]

All altcoins fluctuate in price depending on Bitcoin.  But cryptocurrency prices never follow the stock market.  Stock market is one thing and cryptocurrency is a different thing.  Cryptocurrencies are not comparable to the stock market. So I disagree with your example

Crypto market has no correlation with stock market but if there is any similarity of price movement chart then it is just coincidence and unrelated, so he should be able to tell the difference and since the two are on different sides I also disagree and he should know more on the crypto market.