What is happening with Ethereum price?

[vegasus]

Expecting to hit $5k is not impossible, is it?[/size]

You can always hope - but if we take into account that the price of ETH follows (to some extent) the price of BTC, then this could only happen when the price of BTC is twice as high as it is now. I already wrote that for the past 1 year, the ratio of BTC price growth compared to ETH is 100% compared to only 30%.

Ethereum ATH is $4,891.70.
And the current price is $2,574.04.
Even before the big crash a few days ago, the price of ETH had reached more than $3500, so if in the peak season of the bullrun, I really believe that the price of ETH can exceed its ATH and more than $5k.

If you follow the Bitcoin cycle, with the market cap getting higher, and also the current price target is already quite high, then it should not be so difficult for Ethereum to exceed $5k in the peak season later
https://coinmarketcap.com/currencies/ethereum/

[philipma1957]

eth came back  a bit today it is over 2600.
still not a fan.

we shall see if it keeps going up.

it is still going up and is still stable to follow the price of Bitcoin.
ETH became my favorite asset after Bitcoin and started collecting it when the price bottomed out a few days ago.

Expecting to hit $5k is not impossible, is it?

Not sure as I am not a fanboy of eth. I think it is far too centralized and lacking pow which to me is a big flaw.

[taufik123]

You can always hope - but if we take into account that the price of ETH follows (to some extent) the price of BTC, then this could only happen when the price of BTC is twice as high as it is now. I already wrote that for the past 1 year, the ratio of BTC price growth compared to ETH is 100% compared to only 30%.

The key is above the $100k price, which is a new higher ATH.
But it may happen when Bitcoin is sideways in the $100k price area.

ETH or other altcoins will be quite aggressive when given the opportunity to make a price recovery when the Altseason really comes.
But either this Altseason will be a more powerful Altseason or even not have enough influence on the Altcoin market.

[Lucius]

You can always hope - but if we take into account that the price of ETH follows (to some extent) the price of BTC, then this could only happen when the price of BTC is twice as high as it is now. I already wrote that for the past 1 year, the ratio of BTC price growth compared to ETH is 100% compared to only 30%.

The key is above the $100k price, which is a new higher ATH.
But it may happen when Bitcoin is sideways in the $100k price area.

ETH or other altcoins will be quite aggressive when given the opportunity to make a price recovery when the Altseason really comes.
But either this Altseason will be a more powerful Altseason or even not have enough influence on the Altcoin market.

Are you aware that there is no "alt season" without a Bitcoin bull run? If ETH had followed the price of BTC in the last year, then it would already have a price of at least $5000 today - and that is something that should not be forgotten just like that.

Many miners like @philipma1957 simply turned their backs on ETH after it moved to PoS, and on top of that it cost them money with various decisions that can never happen when it comes to Bitcoin.

[Rubel007]

Expecting to hit $5k is not impossible, is it?[/size]

You can always hope - but if we take into account that the price of ETH follows (to some extent) the price of BTC, then this could only happen when the price of BTC is twice as high as it is now. I already wrote that for the past 1 year, the ratio of BTC price growth compared to ETH is 100% compared to only 30%.

Ethereum ATH is $4,891.70.
And the current price is $2,574.04.
Even before the big crash a few days ago, the price of ETH had reached more than $3500, so if in the peak season of the bullrun, I really believe that the price of ETH can exceed its ATH and more than $5k.

Quite a difference was observed between this year's Bull run with the previous bull run. The highest price we have ever seen for Ether was around 5K and Bitcoin price was not above 70K in the last bull market. Ether hasn't seen much change recently since Bitcoin got its new ATH. Not only Ether but almost altcoins have not seen any major changes. But I am confident that if Bitcoin reaches 100K we will see a bull market in altcoins where Ether will also gain new ATH. If Bitcoin reach100K, we can each Ether 10k which is rational.

[LogitechMouse]

I was expecting the price of Ethereum to go up this month after the ETF trade got approved. I expected it to be similar to what Bitcoin ETF did after a month when it got approved. I am surprised to see the price of Ethereum only going down in the month of August. Am I FOMOing or is it the whole crypto market is reacting proportionately to the global market? If the ETF is not a success it can be discontinued but looking at the inflow I feel it is good but not as good as Bitcoin ETF.

What do you guys think?

Possible that you got FOMOed. There's also a chance that investors think that making a Spot Ethereum ETF isn't necessary anymore hence, it didn't gain traction or hype the same as Bitcoin had when it had a Spot Bitcoin ETF getting accepted.

Am I surprised? Not really because at first place, I really knew that whenever a Spot Bitcoin ETF gets accepted, it will create domino effect towards altcoins and at some point, companies will make another Spot ETF on altcoin and it happened with Ethereum. Anyway, I guess the only way for Ethereum to reach new ATH is for the bull run to start.

[Lucius]

Quite a difference was observed between this year's Bull run with the previous bull run. The highest price we have ever seen for Ether was around 5K and Bitcoin price was not above 70K in the last bull market. Ether hasn't seen much change recently since Bitcoin got its new ATH. Not only Ether but almost altcoins have not seen any major changes. But I am confident that if Bitcoin reaches 100K we will see a bull market in altcoins where Ether will also gain new ATH. If Bitcoin reach100K, we can each Ether 10k which is rational.

I don't want to spoil your expectations, but if BTC is now at $60k, and ETH is at approximately $2600 - are you saying that it would be logical to expect that a BTC price increase of some 40% would mean an ETH price increase of even 400%?

Of course, everything is possible, especially if inflows into ETH spot ETFs increase significantly, but I am still very reserved about the possible development of the situation in that direction.

[Kemarit]

Expecting to hit $5k is not impossible, is it?[/size]

You can always hope - but if we take into account that the price of ETH follows (to some extent) the price of BTC, then this could only happen when the price of BTC is twice as high as it is now. I already wrote that for the past 1 year, the ratio of BTC price growth compared to ETH is 100% compared to only 30%.

Ethereum ATH is $4,891.70.
And the current price is $2,574.04.
Even before the big crash a few days ago, the price of ETH had reached more than $3500, so if in the peak season of the bullrun, I really believe that the price of ETH can exceed its ATH and more than $5k.

Quite a difference was observed between this year's Bull run with the previous bull run. The highest price we have ever seen for Ether was around 5K and Bitcoin price was not above 70K in the last bull market. Ether hasn't seen much change recently since Bitcoin got its new ATH. Not only Ether but almost altcoins have not seen any major changes. But I am confident that if Bitcoin reaches 100K we will see a bull market in altcoins where Ether will also gain new ATH. If Bitcoin reach100K, we can each Ether 10k which is rational.

It is still way below from it's last all time high, so obviously, it is down almost at -50% as of this time and there are no altcoin bull run yet as Ethereum could be the prime mover in that market. Of course, the catalyst for the crypto bull run is Bitcoin and so when we see some big changes in price, it will have a trickle effect on the market including Ethereum and not the other way around.

There were even a time when we thought that altcoin market will de-couple with Bitcoin and will have it's own altcoin season. But that's not been the case so far. Everything is still tied up to Bitcoin market.

[Crypto Library]

I was expecting the price of Ethereum to go up this month after the ETF trade got approved. I expected it to be similar to what Bitcoin ETF did after a month when it got approved. I am surprised to see the price of Ethereum only going down in the month of August. Am I FOMOing or is it the whole crypto market is reacting proportionately to the global market? If the ETF is not a success it can be discontinued but looking at the inflow I feel it is good but not as good as Bitcoin ETF.

What do you guys think?

Actually, it will not work if we compare everything to bitcoin what ever it is the top rated altcoin what ever it has one of the potential market cap even then if we compare with bitcoin the comparison and asking the question those time will be just go in vain.

So we should also accept that the Ethereum progress can't be same as the bitcoin progress also, But that doesn't mean that I am underestimating the etherium coin, it is the best altcoin but not the best coin so we can see the recovery in little slower but doesn't it is an opportunity to make some profit by targeting the next bull run ?

[Lucius]

~snip~
There were even a time when we thought that altcoin market will de-couple with Bitcoin and will have it's own altcoin season. But that's not been the case so far. Everything is still tied up to Bitcoin market.

One of the reasons that altcoins cannot "progress" without Bitcoin is perhaps that there is far more disappointment among those who trade with altcoins than with Bitcoin.  If someone could calculate (historically) how much money investors have lost investing in altcoins compared to BTC, I am sure that the losses would be incomparably greater with altcoins than with BTC.

The reason is more than simple, you just have to look at how many altocoins have survived in the last 10 years. Bitcoin is still here and there are no signs that it will disappear, and at the same time it has provided excellent profits to everyone who invested in it.

[BitcoinGirl.Club]

Ethereum ATH is $4,891.70.
And the current price is $2,574.04.
Even before the big crash a few days ago, the price of ETH had reached more than $3500, so if in the peak season of the bullrun, I really believe that the price of ETH can exceed its ATH and more than $5k.

It's $26xx today. Perhaps this is a good time for short time investors to buy some ETH. Forget about $5k, if this even goes to $3.5k from 10 ETH one can make around $9k.

[Lucius]

It's $26xx today. Perhaps this is a good time for short time investors to buy some ETH. Forget about $5k, if this even goes to $3.5k from 10 ETH one can make around $9k.

For those who have money and are willing to take risks, even small price changes can be profitable - but most people are still in the "invest a little, profit a lot" category, which means that their expectations are much higher than that $3.5k or even $5k.

I remember when 1 ETH was worth about 7$, and how I thought about buying several dozen up to even 100 ETH because I could risk losing that money, but I simply gave up. It's not that I regret it, but I honestly didn't believe that that coin would ever be worth even half of what it is worth today.

[Rikafip]

I don't want to spoil your expectations, but if BTC is now at $60k, and ETH is at approximately $2600 - are you saying that it would be logical to expect that a BTC price increase of some 40% would mean an ETH price increase of even 400%?

That's probably just a whishful thinking of all those who prefer Ethereum (and altcoins in general) over bitcoin, and I know few of those in real life too.

While ethereum might outperform bitcoin in short periods of time, this bull run showed it once again that when it comes to long term, bitcoin is still way to go.

[jeraldskie11]

I was expecting the price of Ethereum to go up this month after the ETF trade got approved. I expected it to be similar to what Bitcoin ETF did after a month when it got approved. I am surprised to see the price of Ethereum only going down in the month of August. Am I FOMOing or is it the whole crypto market is reacting proportionately to the global market? If the ETF is not a success it can be discontinued but looking at the inflow I feel it is good but not as good as Bitcoin ETF.

What do you guys think?

This only means that Ethereum is also an altcoin that relies on the price of Bitcoin. There are times that Ethereum performs well than Bitcoin but has the same direction with Bitcoin. But this doesn't mean that Ethereum is not a good coin, there are lot of investors who really believes in it since the beginning. So sometimes it's better to invest in Bitcoin, sometimes in Ethereum, it's just depends on you because we all have different perspective, but one thing is true, Ethereum is also a good coin to invest with.

[SmartGold01]

Have you forgotten that most coin are being driving by bitcoin?
How do you think Ethereum would soar while bitcoin is not making any new push or even going back to the previous ATH at least even though not to the ATH but let it go close to 67, or 69 at least with this there could be a turn around for ethereum to surge in price.