Ethereum Has Just Fallen

[TomPluz]

Seems to me that Ethereum has been a major victim of circumstances this month of August as it fell around $2100 level before rebounding to where it is now at $2229. Together with Bitcoin and even the whole cryptocurrency industry, we are experiencing a sea of red waves that may be taking some roots for some days as there is a fear of recession for USA and global economy that can surely affect more.

I am just wondering...should we not expect the cryptocurrency industry to be doing fine if there can be recession? I think the answer is that this industry has not yet been decoupled with things happening - good or bad - with the actual economy.

Anyway, do you think that eventually Ethereum will be making a big comeback most especially that we already have ETFs for the said digital asset?

[bitterguy28]

Anyway, do you think that eventually Ethereum will be making a big comeback most especially that we already have ETFs for the said digital asset?

i have not yet given up with ethereum as the entire market is not exactly pumping anyway i would be worried if bitcoin has created another ath and ethereum still has not risen but seeing that bitcoin has not done that yet i see all of these current market activities as temporary

later on i still think ethereum has a good chance to rise and its holders gain some profit

[koang]

Bullish news for Ethereum ETF but the price goes down.
I think the massive dump was planned so big boys could come in low and sell high. Ethereum’s price rebounded 23.7% in 36 hours after hitting $2,188.
However, The network security structure doesn't seem all that sensitive to short yet drastic market moves.
It's hard to predict the timing for price movements, but I hope the momentum keeps up and it hits $3,200 soon. Let's hope for a quick rally.

[Aanuoluwatofunmi]

There is much expectations from ethereum to perform this year, this begin with the urge from its users to see it attain all time high, just as we have seen with bitcoin, we also expect that sooner, ethereum should make it up to like $5,000 or more, though the recent bear market that renders many cryptocurrencies into dip doesn't means for anything than a little time occurrence on market shifts, many of them by now have been finding their ways upward again.

[Hamza2424]

Hmm, I'm not sure why there's a special topic for the ETH dump, TBH the entire market crashed for some major reasons, even right now Bitcoin is playing the pika boo game haha with the 55k support line, anyway who is interested can load a decent amount of ETH coins, ETH has great potential and it can give some decent returns, at the same time dont underestimate the ETH's ETF even though it's not performing well.

[Vx1]

I see not only Ethereum experiencing a price drop this month, Bitcoin, BNB, Solana and other coins also experienced a fairly sharp decline. But we should not panic too much, let alone sell at a loss.
Because if we look at the market, today the price in the market has increased quite a bit.
So keep holding your coins, in fact if we have capital we add more load by buying more ETH.

[hugeblack]

Anyway, do you think that eventually Ethereum will be making a big comeback most especially that we already have ETFs for the said digital asset?

Yes, it will definitely return. When Bitcoin rises sharply, you will find that the price of Ethereum has also risen, but the real question is, will the price of Ethereum be separate from the price of Bitcoin? In other words, when a major correction occurs in the market, will the price of Ethereum be dependent on the price of Bitcoin or not?

[Stompix]

I am just wondering...should we not expect the cryptocurrency industry to be doing fine if there can be recession? I think the answer is that this industry has not yet been decoupled with things happening - good or bad - with the actual economy.

When businesses fall, cash becomes scarce, people get unemployed, consumption drops to its lowest as people are uncertain about their future and investments in companies or anything else is not there anymore, where would the money to keep crypto in the green would come from and why would not people also withdraw money from their crypto investments to deal with their new problems?

Cryptos have stopped being cash and stopped being gold and have grown more akin to stocks, it won't decouple it will become even more tightly correlated.

As for Ethereum itself, it has shown it's only a pawn compared to Bitcoin, despite the ETF, despite more hype around it than BTC, it took a nastier fall and only recovered when everybody recovered, it's still is and will be the best altcoin but it will never be a market leader.

[Fivestar4everMVP]

, do you think that eventually Ethereum will be making a big comeback most especially that we already have ETFs for the said digital asset?

Well, I think the only significant use case and advantage ethereum has at the moment is the ETF that was approved recently, aside from this, I do not see ethereum as a good asset to possibly invest in at the moment, specially owning to that fact that it has become of of the most expensive blockchain to build on, new projects are avoiding ethereum and choosing other blockchains with better scalability and lower fees for the sake of their users, this has made ethereum to lose quite a good number of good projects and potential users.

Overall, I think the price of ethereum will definitely grow and get higher from what its currently worth, but for the long term,  I don't see a lot of potentials in investing in ethereum, aside from it being an assets who's ETF has been approved by the sec.

[Hamza2424]

Overall, I think the price of ethereum will definitely grow and get higher from what its currently worth, but for the long term,  I don't see a lot of potentials in investing in ethereum, aside from it being an assets who's ETF has been approved by the sec.

Hmm, well I have some different expectations from ETH, but according to your words, I'm sure there will be some strong reasons, because I dont see any lacking point in ETH's exploding growth in the coming timeline, due to its mighty ecosystem, I would love to hear some words from your side about why? ETF is a good development but I dont consider it as a lottery ticket for ETH investors the strongest reason for the reliability of ETH's growth in the future close to me is its Ecosystem.

[bounceback]

Have been one week since Ethereum have fallen and dropped until $2,1k still get difficult for recovering or return above $3k with current ETH price stuck or drop around $2,6k. I don't know what happen with top and potential coins such as ETH get difficult recovering to higher price with usually always following bitcoin price.
For bitcoin since fallen until $49k success make recovering and not take longer time moving up above $60k but why this time Ethereum get unbelievable for recovering to higher price?

[bayiajaib]

Have been one week since Ethereum have fallen and dropped until $2,1k still get difficult for recovering or return above $3k with current ETH price stuck or drop around $2,6k. I don't know what happen with top and potential coins such as ETH get difficult recovering to higher price with usually always following bitcoin price.
For bitcoin since fallen until $49k success make recovering and not take longer time moving up above $60k but why this time Ethereum get unbelievable for recovering to higher price?

The price of ethereum and other altcpins always moves the price of bitcoin.  But currently we see that altcoin prices are having difficulty rising following Bitcoin's movements, perhaps investors still have doubts about whether Bitcoin will rise or fall again.  This doubt occurs because the bullish season is still a long way off.
 I'm still holding my coins and waiting for the market to improve again, maybe until the end of this year or early next year.

[NikeFit_7777]

It's probably best to take a closer look at ETH right now.

Funding Rate indicates that sellers still believe in further decline and are betting on it. Also on the chart of ETH Futures CME a GAP has formed, the full overlap of which will occur around $3000.

Since July 24, all of us deeply respected representatives of (Gay)scale only sell ETH, but here's the trouble. August 12 is the day they did not sell ETH, so to me this is a bit of a bullish pattern, given all of the above.

So think for yourself, I in turn will wait for a breakout somewhere higher, $2,850 - $2,900 for example.

[koang]

Have been one week since Ethereum have fallen and dropped until $2,1k still get difficult for recovering or return above $3k with current ETH price stuck or drop around $2,6k. I don't know what happen with top and potential coins such as ETH get difficult recovering to higher price with usually always following bitcoin price.
For bitcoin since fallen until $49k success make recovering and not take longer time moving up above $60k but why this time Ethereum get unbelievable for recovering to higher price?

Yep. They just got ETFs live but the Ethereum price is not going up
We haven’t seen Ethereum make new ATH, which means more new money hasn’t entered to push the space in a while.
But we know Eth is a good coin and as a retail, we also have to understand that whales accumulate by not moving prices with algorithms.
So relax, the game is not finished. Not a time to not DYOR

[Wiseman]

Seems to me that Ethereum has been a major victim of circumstances this month of August as it fell around $2100 level before rebounding to where it is now at $2229. Together with Bitcoin and even the whole cryptocurrency industry, we are experiencing a sea of red waves that may be taking some roots for some days as there is a fear of recession for USA and global economy that can surely affect more.

I am just wondering...should we not expect the cryptocurrency industry to be doing fine if there can be recession? I think the answer is that this industry has not yet been decoupled with things happening - good or bad - with the actual economy.

Anyway, do you think that eventually Ethereum will be making a big comeback most especially that we already have ETFs for the said digital asset?

You do not take into account one variable that shows us that altcoins both grow and fall much more than Bitcoin, therefore, Ethereum had a stronger fall, but when it starts to grow very strongly, Ethereum can show much more growth percentage than Bitcoin.