{"id":29481,"date":"2022-09-19T09:09:16","date_gmt":"2022-09-19T09:09:16","guid":{"rendered":"http:\/\/egrowonline.com\/?p=29481"},"modified":"2022-09-19T09:09:16","modified_gmt":"2022-09-19T09:09:16","slug":"ethereum-slides-more-than-bitcoin-dogecoin-after-the-merge-analyst-says-things-look-pretty-ugly-right-now-by-benzinga","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=29481","title":{"rendered":"Ethereum Slides More Than Bitcoin, Dogecoin After ‘The Merge:’ Analyst Says ‘Things Look Pretty Ugly’ Right Now By Benzinga"},"content":{"rendered":"


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\n\"Ethereum
\n\u00a9 Reuters. Ethereum Slides More Than Bitcoin, Dogecoin After ‘The Merge:’ Analyst Says ‘Things Look Pretty Ugly’ Right Now<\/span>
\n\n<\/div>\n

Major coins traded sharply lower Sunday evening as the global cryptocurrency market cap dropped 4.55% to $929.5 billion at 8:21 p.m. EDT.<\/p>\n\nPrice Performance Of Major Coins<\/p>\n\nCoin
\n24-hour
\n7-day
\nPrice
\n<\/tr>\n\n\n\n
(CRYPTO: BTC)<\/td>\n-3.05%<\/td>\n-11%<\/td>\n$19,418.19<\/td>\n<\/tr>\n
(CRYPTO: ETH)<\/td>\n-8.6%<\/td>\n-24%<\/td>\n$1,337.69<\/td>\n<\/tr>\n
(CRYPTO: DOGE)<\/td>\n-6.9%<\/td>\n-9.55%<\/td>\n$0.06<\/td>\n<\/tr>\n<\/table>\n\nTop 24-Hour Gainers (Data via CoinMarketCap)<\/p>\n\nCryptocurrency
\n24-Hour % Change (+\/-)
\nPrice
\n<\/tr>\n\n\n\n
Chiliz (CHZ)<\/td>\n+3%<\/td>\n$0.23<\/td>\n<\/tr>\n
PAX (PAXG)<\/td>\n+0.1%<\/td>\n$1,669.07<\/td>\n<\/tr>\n
TrueUSD (TUSD)<\/td>\n+0.02%<\/td>\n\u200b\u200b$1<\/td>\n<\/tr>\n<\/table>\n

Why It Matters: Ethereum and Bitcoin lost 24% and 11% of their respective values over the last seven days.<\/p>\n

The two largest cryptocurrencies were in the red on Sunday evening even as U.S. stock futures were marginally higher at the time of writing.<\/p>\n

Traders are looking forward to monetary policy decisions from the U.S. Federal Reserve and the Bank of Japan in the fresh trading week.<\/p>\n

Commenting on the decline in Ethereum price after the \u201cgreat success\u201d that was the Merge, Lark Davis, a notable cryptocurrency investor tweeted, \u201cShame about the price action, but just like a [bitcoin] halving the effect is not instantaneous.\u201d<\/p>\n

The #ethereum merge was a great success and a huge moment for the chain!<\/p>\n

Shame about the price action, but just like a #bitcoin halving the effect is not instantaneous.<\/p>\n

\u2014 Lark Davis (@TheCryptoLark) September 18, 2022<\/p>\n<\/blockquote>\n

Justin Bennett predicted the first part of Bitcoin short liquidations around the 20,100 levels on Sunday. The cryptocurrency investor tweeted, \u201cpump incoming.\u201d<\/p>\n

First part of those short liquidations here at 20,100.<\/p>\n

More to come.$BTC #Bitcoin pic.twitter.com\/PS798moiym<\/p>\n

\u2014 Justin Bennett (@JustinBennettFX) September 17, 2022<\/p>\n<\/blockquote>\n

In a more recent tweet, Bennett took a contrarian stance and said he should have \u201cstayed bearish.\u201d<\/p>\n

I remained bearish in the sense that I still have part of my $ETH short from $1,708.<\/p>\n

But I did think we’d see more of a bounce early this week. And we still might, but things look pretty ugly atm.<\/p>\n

\u2014 Justin Bennett (@JustinBennettFX) September 18, 2022<\/p>\n<\/blockquote>\n

><\/p>\n

\u201cBut I did think we’d see more of a bounce early this week. And we still might, but things look pretty ugly [at the moment].\u201d<\/p>\n

Alternative.me\u2019s \u201cCrypto Fear & Greed Index\u201d was at \u201cExtreme Fear\u201d going into a new week of trading. Last week, the index also reflected \u201cExtreme Fear.\u201d<\/p>\n

OANDA senior market analyst Edward Moya said in a recent note, seen by Benzinga, that Bitcoin was lower as \u201crisk appetite remains in hiding.\u201d<\/p>\n

The analyst singled out a release from the White House which outlined a framework to regulate cryptocurrencies last week and said it \u201chardly puts anything major in motion.\u201d<\/p>\n

\u201cNew goals for the [U.S. Securities and Exchange Commission] and [Commodity Futures Trading Commission] were expected, while the proposed regulation on eliminating illegal activity fell short of complete guidelines on how that will be achieved,\u201d said Moya.<\/p>\n

Read Next: Zero Interest Rates Creating Bubbles And ‘Tumors Like Bitcoin,’ Black Swan Author Is Doubling Down On $0 Price Target <\/span><\/span> (NYSE:)<\/p>\n

\u00a9 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/p>\n

Read the original article on Benzinga<\/a><\/p>\n<\/div>\n


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\u00a9 Reuters. Ethereum Slides More Than Bitcoin, Dogecoin After ‘The Merge:’ Analyst Says ‘Things Look Pretty Ugly’ Right Now Major coins traded sharply lower Sunday evening as the global cryptocurrency market cap dropped 4.55% to $929.5 billion at 8:21 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price (CRYPTO: BTC) -3.05% -11% $19,418.19 […]<\/p>\n","protected":false},"author":1,"featured_media":27933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[646,4726,50,85,158,6265,9815,2670,1101],"class_list":["post-29481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-benzinga","tag-bitcoin","tag-dogecoin","tag-ethereum","tag-merge","tag-pretty","tag-slides","tag-ugly"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/LYNXMPEB2N09U_L.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29481"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29481\/revisions"}],"predecessor-version":[{"id":29482,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29481\/revisions\/29482"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/27933"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29481"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}