Hi everyone. I'd like to get your take on this since I'm not really sure what am I missing here.
Although one would anticipate that the price of ETH should increase given that the supply has decreased by over 5,500 since last Saturday, for some reason, ETH prices haven't exactly seen the coresponding price boost despite lowered supply.
Why hasn't this had a beneficial effect on the price of ETH?
I think it's natural for prices to decline in the current bearish period, bitcoin alone has decreased, especially ETH whose price sometimes depends on the price of bitcoin