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Why is Ethereum Not Moving upward?

Ethereum’s had a ton of news lately. I mean, a sleuth of great news. Last year we were BOOMING because of much smaller tid-bits and rumors. Lets take a look:

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Goldman Sach’s says ETH will beat BTC: [story here](https://lapostexaminer.com/safetitan-ico-delayed-while-jack-dorsey-prefers-hams-over-goldman-sachs-pick-eth/2021/07/14)

Got the ETF listing in Brazil, a first in Latin America : [story here](https://cryptopotato.com/brazils-sec-approves-first-ethereum-etf-in-latin-america/)

Visa said there was $1-billioon in crypto spending: [story here](https://www.bitrates.com/news/p/visa-sees-1-billion-of-crypto-card-spend-this-year-eth-doge-axs-jul-13)

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How is it possible, ETH is still going under $2k?

I do know financial markets drop in June and September. However, we’re in July going towards August. Does this mean another crash is likely coming?

What do you think?

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26 Comments

  1. China started this in May by forcing their miners to basically dump billions in bitcoin. It flooded the market and took everything down. We are in the process of strong hands absorbing that and the after shocks.

    Manipulation like I said above. But we will get through it. Only crypto can take crypto down, not China. We’ve got $10k in our sights, hang tight $4k buyers we’re coming for you.

  2. Be patient . The bounce back for most coins will be bigger than ever. We’ll have another hyper run if all the world protests dont cause a global collapse of everything

  3. Because when rumors came out, people starting buying (early buyers), price went up, then more buyers and so on until rumors turned started to get shape into real facts, price went parabolic, early buyers sold and now it needs some time to readjust. Sitting around 2-2.5k for a while is very healthy in order to resume uptrend to 4k and beyond.

  4. When ETH hit $4k all of these things were already priced in. Growing adoption, network upgrades, the present and future potential of defi, NFTs, etc. The hype of all of what ETH will be in the near future is what set the price. Not to mention that the ETH rally was not independent of BTC’s which rallied on adoption from big names etc. BTC rallied and the money rolled from there into ETH just as it did in 2018.

    There is nothing new in the sort of stories you’ve linked that weren’t already on peoples minds during the rally. Nothing new enough to generate new excitement in most investors at least. ETH dropped from $1400 to $80 after the last rally. That’s like a 94% drop. We are barely down 60% off this markets top so far.

    Also, and I say this as someone who is balls deep in ETH, why should one ETH be worth more than $2000 right now? It was $80 just over a year ago. Is it the utility of 1 ETH is really worth $2000? I’m involved pretty heavily in DeFi but I can’t say that the utility value is more than 2k at this moment. Maybe in the near future. Mostly it’s just the hope and expectation that because prices rose dramatically in the past they should do so again in the future. I for one believe they will, but that’s not a really solid reason to value an asset which has a history of taking long breaks between upward runs.

  5. This is all most likely priced in, especially the upgrade. That being said, we are in a short bear market within a prolonged cycle, it’s going to be hard for any coins to put in higher prices – especially whilst bitcoin, the king, remains trading sideways/trending down. Be patient, and strap in, I expect this to last for at least a few more months

  6. Dont count ETH out yet. It will bounce back. I do sort of think we’re headed for a crash back down to around $1200-$1500 however. Unfortunately. However, by October I bet we’ll see surges for the holidays. Like the Goldman Sach Group is saying in the article (https://lapostexaminer.com/safetitan-ico-delayed-while-jack-dorsey-prefers-hams-over-goldman-sachs-pick-eth/2021/07/14) it’s got more usability than Bitcoin and we may see a huge switch of position in 2021.

  7. I think people don’t realize how much these types of news really affect the price. Whales control the price, it’s how it is, and whales don’t seem to necessarily care about it’s usefulness and progress, they care about making money. And I think they realize they can pump it, and make the average person help pump it purely based off the price jump they cause alone.

  8. Honestly I hope the downward trend continues further. I’m in the negative on my holdings but continue to purchase small chunks as the price drops bringing my cost average down. I’m not looking for a quick buck, I’m more interested in the 3 to 5 year play.

  9. Of course ETH is falling under $2k.

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    Most of the rise was due to excessive leverage. 20x-100x due to offshore exchanges, etc.

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    There was a LOT of $ that got liquidated, that money won’t be coming back because you can’t leverage debt, or borrow more when you already are sitting on massive debt.

    Bull runs MUST come to an end, and we are digging in for crypto-winter.

  10. Wait till august. πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€till august nothing’s going to happenπŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€as you can see you can trust meπŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€

What are you guys disaster recovery plans?

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