• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
Ethereum ETH

Ethereum’s Downwards Pressure May Be Perpetuated by Waning Holders

Cole Petersen by Cole Petersen
4 years ago
in Cryptocurrency news, Ethereum
Reading Time: 2 mins read
Advertisement
Advertisement

Ethereum (ETH) – along with most major cryptocurrencies – has been facing significant selling pressure in recent times and has failed to regain its previous support level of $185, despite Bitcoin expressing some hints of bullishness.

New data suggests that Ethereum’s investors have a significantly higher turnover rate than Bitcoin’s investors, which may signal that any prolonged downwards trend in the aggregated crypto market will prove to be dire for ETH, as its holders may be more prone to jump ship than Bitcoin’s investors are.

Ethereum Bounces from Daily Lows, But Downtrend May Just be Getting Started 

At the time of writing, Ethereum is trading down over 1% at its current price of $174.3, which marks a slight drop from its daily highs of $177 that were set yesterday.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

It is important to note that ETH did bounce yesterday evening after dipping to lows of $168, signaling that this price could be a strong region of support for the cryptocurrency.

One important trend that analysts and investors alike should closely watch is the average time that investors hold their ETH tokens, as it may signal that any downwards momentum will be significantly perpetuated by traders who jump ship.

Intotheblock, a cryptocurrency research group, recently explained in a tweet that Bitcoin investors hold their crypto for over two times as long as Ethereum investors do, which signals that investors will likely find greater stability in BTC than they will in ETH.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

“One of our 30+ indicators is the avg time a token is held. Ever wondered if a cryptocurrency is being held for longer than others? i.e. How does #BTC compares to #ETH? The Answer: #Bitcoin avg holding period is more than 2x of ETH,” They explained in a recent tweet.

One of our 30+ indicators is the avg time a token is held

Ever wondered if a cryptocurrency is being held for longer than others? i.e. How does #BTC compares to #ETH?

The Answer: #Bitcoin avg holding period is more than 2x of EHT. pic.twitter.com/2DdAgCMFMO

— intotheblock (@intotheblock) September 5, 2019

Will ETH Soon Visit Next Region of Major Support?

Josh Rager, a popular crypto analyst on Twitter, recently shared his thoughts on Ethereum, explaining that he believes there is a decent chance that it continues to drop lower until it reaches its next major level of support around 0.012 BTC, which is down significantly from its current price of 0.0167 BTC.

“$ETH Zoom Out. In between major support areas. Would love to see price between 0.012 to 0.013. But want to wait for a confirmation,” Rager said in a recent tweet.

$ETH Zoom Out

In between major support areas

Would love to see price between 0.012 to 0.013

But want to wait for a confirmation pic.twitter.com/50DvtVTCdL

— Josh Rager ? (@Josh_Rager) September 7, 2019

Naturally, Bitcoin’s price action in the near-term will likely have a massive impact on that of ETH’s, but any prolonged downwards trend may lead to a bout of capitulation for Ethereum due to the short-term nature of its investors.

Featured image from Shutterstock.
Tags: cryptoETHethereum
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin

Bitcoin (BTC) To Tap Into $30,000 Region Before A Slow Down, Here’s Why

2 hours ago
US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

3 hours ago
XLM

XLM: How It Plans To Navigate Bearish Market Sentiment

5 hours ago
Chainlink

Chainlink Price Beneath Crucial Resistance, What To Expect Next?

6 hours ago
Bitcoin

Bitcoin Bear Market Over? This Historic On-Chain Signal Suggests So

7 hours ago
Bitcoin

Bitcoin Investors Remain Greedy Despite Low Momentum, Why?

8 hours ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple Not ‘Ripped Apart’ Amid Legal Battle With SEC...

    3 hours ago
  • Top 3 Altcoins For April 2023: Dogetti, Stacks &...

    3 hours ago
  • Top 9 ERC20 Tokens To Buy Now For Growth in 2023

    6 hours ago
  • Bitgert Backed Q-BRISE Set to Outshine Competitors with...

    7 hours ago
  • TMS Network (TMSN) Surges and Attracts Investors as Conflux...

    11 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.