Ethereum

2024

Bitcoin

<p>The Ethereum market is going through dark days. With a price hovering around $2,380 and a 10% drop over the last month, the trend is disappointing for crypto investors. The dream of an “Uptober” seems far away, while ether continues to plunge, fueled by geopolitical tensions and growing disinterest from institutions. At the heart of this debacle: an ICO whale responsible for a massive sale of 47 million in ETH.</p>
<h2 id="h-ethereum-and-the-curse-of-regression">Ethereum and the curse of regression</h2>
<p>Ethereum, <a href="https://www.cointribune.com/ethereum/" target="_blank" rel="noopener noreferrer nofollow">defined as follows</a>, keeps stumbling. According to <a href="https://x.com/intocryptoverse/status/1841889615097004367" target="_blank" rel="noopener noreferrer nofollow">crypto analyst Benjamin Cowen</a>, <strong>a further 50% price drop for ETH</strong> could be possible, bringing <strong>its price around $1,200</strong>.</p>
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     <p lang="en" dir="ltr">The last 2 times <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> / <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> broke support, ETH / USD dropped ~70%, where <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> went to the lower logarithmic regression trend line. ETH is already down 41%. <br><br>These final drops occurred in Q4 2016 and Q4 2019, and perhaps this cycle it occurs in Q4 2024.<br><br>I know all the gurus all… <a href="https://t.co/kVs5PL6wAq" rel="noopener noreferrer nofollow">https://t.co/kVs5PL6wAq</a> <a href="https://t.co/V1Peb5sVAk" rel="noopener noreferrer nofollow">pic.twitter.com/V1Peb5sVAk</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1841889615097004367?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 3, 2024</a>
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  Fear of a 50% drop in ETH price
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<p>This gloomy prediction is based on the <strong>logarithmic regression model</strong>, a tool that has already proven its effectiveness during previous declines in 2016 and 2019. Each time ether lost its support against Bitcoin, a drop of about 70% followed.</p>
<p>As Cowen points out in one of his tweets: “<em>The last time ETH/BTC broke its support, ETH/USD dropped 70%</em>“.</p>
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 <li>41% decline already observed;</li>
 <li>A market that lost 50 billion in a week;</li>
 <li>Possibility of a drop to $1,200 by the end of 2024.</li>
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<p>The signals are worrying, and some experts predict that Q4 2024 could still hold unpleasant surprises for investors.</p>
<h2 id="h-crypto-eth-whales-on-the-run">Crypto ETH: whales on the run</h2>
<p>If <strong>geopolitical tensions and the rise of Bitcoin dominate the market</strong>, one direct cause of this dizzying fall lies in the <strong>massive sale of ether by an ICO whale</strong>. This early giant released <strong>no less than 47 million in ETH</strong>, sending a strong signal to investors: even the most loyal are jumping ship. As a result, confidence collapses.</p>
<p>The <strong>ETH trading volumes in ETFs have remained desperately low</strong> – to the point of <a href="https://www.cointribune.com/en/crypto-blackrock-disappointed-by-ethereum-etfs/" target="_blank" rel="noopener noreferrer nofollow">disappointing BlackRock</a>, while institutions seem more attracted to Bitcoin.</p>
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<p>To make matters worse, the Fed’s measures and economic instability leave little room for a quick rebound of the crypto prince. Vitalik Buterin, co-founder of Ethereum, however, attempts to stay the course by proposing <a href="https://www.cointribune.com/en/crypto-should-the-ethereum-staking-threshold-be-lowered-buterin-reignites-the-debate/" target="_blank" rel="noopener noreferrer nofollow">a reduction of the staking threshold</a>, but will it be enough to reverse the trend?</p>
<p>In short, nothing is due to chance in this fall of Ethereum. To all this misery is added <a href="https://www.cointribune.com/en/crypto-transaction-fees-are-skyrocketing-on-ethereum/" target="_blank" rel="noopener noreferrer nofollow">transaction fees that are soaring</a>: this is linked to increased on-chain activity. In other words, the future seems uncertain for this crypto-star.</p>

Crypto: The Decline Of Ethereum Continues, A 50% Correction In Sight

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