Ethereum

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Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-trends-indicate-further-decline-for-ethereum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Market Trends Indicate Further Decline for Ethereum</a><br></p>
<p style="text-align: justify">Ethereum has experienced a strong selling pressure of nearly 10% on the weekly chart, with its current price settling at around $2,366. Some market participants argue that the collapse of the ETH market may have just begun according to the log regression model, predicting a potential further decline of 50% in price.</p>
<h2 id="regression-model-signals-major-decline">Regression Model Signals Major Decline</h2>
<p style="text-align: justify">Renowned <a href="https://en.coin-turk.com/bitcoin-chainlink-polygon-and-solana-november-price-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/floki-inu-community-awaits-cat-token-distribution/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst Benjamin Cowen stated that when Ethereum broke its support level against Bitcoin , the ETH/USD trading pair dropped to the lower logarithmic regression trend line by 70%. Currently, with ETH losing 41% of its value, concerns are rising that a similar scenario could occur this year.</p>
<p style="text-align: justify">Cowen mentioned, “I believe the price of ETH could drop by 50% by the end of the year and recover by 2025,” advising market participants to consider the associated risks.</p>
<h2 id="decrease-in-market-participant-confidence">Decrease in Market Participant Confidence</h2>
<p style="text-align: justify">At the beginning of this week, the escalating Israel-Iran conflict caused a decline in Bitcoin and <a href="https://en.coin-turk.com/what-is-utrust-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a>, delaying expectations for the “Uptober” rally. Additionally, Ethereum ICO period whales continue to sell their ETH, indicating a decrease in the confidence of long-term investors in this asset class.</p>
<h2 id="decline-in-institutional-interest">Decline in Institutional Interest</h2>
<p style="text-align: justify">The low levels of total investments in spot Ethereum ETFs suggest that institutional investors prefer BTC over ETH amid existing market uncertainties. Nonetheless, Ethereum co-founder Vitalik Buterin is focusing on making significant strides within the ecosystem. Just a day earlier, he proposed reducing the ETH staking requirement from 32 to 16 ETH.</p>
<p style="text-align: justify">These developments reflect Ethereum’s efforts to adapt to shifts in market dynamics. The price fluctuations experienced by Ethereum stand out as significant indicators for investors to monitor. The future of the Ethereum market will continue to unfold in light of both technical analyses and macroeconomic factors.</p>
<p style="text-align: justify">Closely following the potential future price movements of Ethereum will play a crucial role in helping investors make strategic decisions.</p>
<p>The post <a href="https://en.coin-turk.com/market-trends-indicate-further-decline-for-ethereum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Market Trends Indicate Further Decline for Ethereum</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Market Trends Indicate Further Decline for Ethereum

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