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/biz/ - Business & Finance

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2973702 No.2973702 [Reply] [Original]

what's the reason for ETH going up for the past 3 days?

>> No.2973707

>>2973702
fundamentals

>> No.2973735

>>2973702
Make money out of new buyers who bring the price up even more

>> No.2973746

>>2973707
Be more specific and explain. No fundamentals would pump the price from 190 to 250 in just 3 days

>>2973735
What's the cause for an influx of new buyers?

>> No.2973765

>>2973746
Bitcoin mentionned in the news because of the fork and its new ATH, ethereum is often mentionned as well in those kind of articles

>> No.2973779

>>2973765

I find it strange though, news about BTC affects ETH more than BTC it seems

On top of that BTC volatility is expected as segwit is locking in but nothing is really happening with ETH

>> No.2973811
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2973811

>>2973765
Ethereum is mentioned independently of Bitcoin. In fact, Ethereum gets far more press coverage these days than Bitcoin.

>>2973702
I have two ideas. The first is that we've seen a lot of coins recover from the big crash, but Ethereum and its tokens seem to have lagged behind in terms of recovery. This increase has simply been the overdue catch up. I also suspect the Koreans have something to do with it. On Bithumb alone, there's been $417 million trading volume in the past 24 hours which is absolutely phenomenal for a single exchange on a single pair.

>> No.2973822

>>2973746
what 3 days? it's been accumulating since 7/22 u dumb fuck.

>> No.2973844

>>2973779

Because newfags come in to Coinbase, see that 1 Bitcoin is $3200, but that smaller ETH is doing quite nicely. I can afford an ETH.

>> No.2973869

>>2973822

I'm looking at the data from the bump that BTC got. Initially ETH didn't go up but as BTC did so did ETH

>>2973811
koreans are the top buyers of ETH for a long time

>>2973844
doesn't make sense that in the past 3 days the bump is that big from new people coming into crypto, the bump wouldn't be this big

Like I said, I'm interested in why ETH got a price bump within the past 3 days

>> No.2973870

>>2973844
No one does that holy shit anyone suggesting this as a reason is retarded.

GDAX isn't driving the price up. In fact, GDAX isn't even in the top 5 by trade volume for Ether.

>> No.2973887
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2973887

>>2973702
>Sold at 160
>Still waiting to rebuy the dip
>270

Suffering

>> No.2973904

Actually I should correct myself and say ETH price from July 31st to now.

$192 to the now price of $260, which is a 35% increase in price within a week

>> No.2973906

>>2973869
>koreans are the top buyers of ETH for a long time
Yes buy they haven't been responsible for a trade volume of over $400 million on a single exchange before.

Nevermind clearly you're stupid.

>>2973844
nice time faggot

>> No.2973944

>>2973906
of course there's going to be high volume on an exchange when the price goes up, but that doesn't explain why people are buying ETH.

I want to know why, not the consequence of it.

>> No.2973970

>>2973702
>>2973702
We've gone from a bear market into a bull market and ETH is the second most important cryptocurrency. Why would it not go up?

>> No.2973981

>>2973702
it hasn't gone up its still at .08

btc however has gone up, thats where you're getting confused

>> No.2973986

You should be asking why it dipped to begin with. Fundamentals still strong as ever. A lot of people jumped over to btc for the 'free money' split. The dust has settled so they're coming back now.

>> No.2974014

>>2973986
The price of BTC only went up $150 during the announcement and all that, from 2600 to like 2750. Not that many people went for it but the people that already had BTC pulled it out of exchanges that didn't support BCH at time of split. I don't think $150 difference in BTC translates to 35% increase in price for ETH within the past week. This might be one of the reasons but not the main reason.

>>2973981
I'm looking at fiat price, yes. But ultimately if BTC is going up other alt coins go down in response to fiat price. Yet ETH hasn't gone down at all.

>>2973970
That may as well be true, it should go up. But it's gone up more than any other coin including the most important cryptocurrency (BTC). Why would the 2nd most important coin go up more than the most important coin? There's got to be another reason

>> No.2974032

>>2974014
ETH is a better coin. Deal with it.

>> No.2974039

will it 400 again

>> No.2974073

>>2974032

Huh? I never said which coin is better, only going off what you said.

That still doesn't really explain things but ok

>> No.2974090

Because the only reason ETH was down was because people moved their money to BTC before the fork so they'd double their coins.

Now that that's over, they're moving their money back to the coins they truly believe in.

>> No.2974097

>>2974090
already explained why this can't be true, at least not the only reason

> The price of BTC only went up $150 during the announcement and all that, from 2600 to like 2750. Not that many people went for it but the people that already had BTC pulled it out of exchanges that didn't support BCH at time of split. I don't think $150 difference in BTC translates to 35% increase in price for ETH within the past week. This might be one of the reasons but not the main reason.

>> No.2974106

>>2974090
on top of that, ETH didn't drop 35% before BTC fork so it doesn't make a lot of sense

>> No.2974107

Speculation like everything else in crypto.

Hmm
BTC broke its previous ath
ETH will too!

That's the rationale. Profit on this as you see fit.

>> No.2974117

>>2974107
ok so basically no one really knows or i'ts not completely obvious

this answer makes the most sense out of everyone else so far

>> No.2974126

http://www.strawpoll.me/13644035

>> No.2974198

>>2974117

New ICO coming out soon

>> No.2974204

>>2973702
holy crap i just recalled that most of those ICO's from early July probably haven't even cashed out yet

>> No.2974914
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2974914

>>2973887
>didn't buy when it was at 200 for a week

>> No.2975005

Timber

>> No.2975037

>>2973746
The cause for the influx is irrational exuberance.

>> No.2975132

>>2974914
I thought it was going to go down and not up