Quote from: sana54210 on July 16, 2021, 07:40:13 PM

Quote from: Silberman on July 15, 2021, 04:42:27 PM

I do not know what kind of time frame people are using for this information to be relevant, those kind of levels are unimportant as people concentrate on round numbers, this is basic psychology and one of those numbers has been broken recently, ethereum is currently trading below the 2k level and this is dangerous, if it does not go above it then we could find ourselves in bit trouble as people could panic and could begin to sell their coins.

I believe it is just that extra drop that we have now, bitcoin is near 30k levels as well and with some more drop it may reach to under 30k levels too. I just feel like we are in a drop situation where prices are going down, and it could very well be temporary as always. We have seen price hit as low as 28k on bitcoin and the price managed to reach back to 40k after that, so these things happen and I am fine with it.

What I am not really sure about is the fact that under 2k could be a bit different for ethereum, it is always known that ethereum has a much larger spread, like it went from 1.5k to 80 dollars to nearly 4k, that move by % calculations is a whole lot larger than whatever bitcoin has done so far, sure bitcoin has gone up and down as well but the difference between highs and lows weren't as big. It means ethereum could still have some time to go.

It is natural for the volatility of ethereum to be higher, after all it has lower volume, it does not have as many holders as the ones we have in bitcoin and its demand can drop massively if there is not an altcoin season going on, something that does not happen to bitcoin, the price of bitcoin keeps approaching 30k more and more and this could be bad news because it may seem we are close to the price of bitcoin breaking that level and if the price of bitcoin drops abruptly then ethereum will fall with it producing new lows.