today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?
The price of Eth was reduced with so many reasons.With your all knowledge ,GAS fee was a known factor.So the market driven ETH had a impact on traders.Some get panic with the small variation in the price.Some will not even think about it.Just hold their money for the final pump with a period of one or two year.
It is true that GAS fees were one of the causes for the decline in Ethereum prices, of course the decline in Ethereum price will definitely
have an effect on traders. But based on the results of my research, Ethereum holders mostly have a very good trading mentality. Therefore,
the Ethereum price did not go down too much, because they make decisions by holding Ethereum until the pump happened. It is evident that
the current Ethereum price has a very strong support price, and is still stable above the $ 300 price.