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Ethereum (ETH) Price Down Today Because of Totally Not Predictable Reasons Like a Bunch of Guys in Their Mom’s Basement Getting Disappointed Again

BitcoinCrypto NewsEthereum 4 Linda Williams August 22, 2024

An illustration: A bearish whale in its mom's basement surrounded by computer screens displaying Ethereum charts with red lines indicating a downward trend; nearby is an open book titled 'Ethereum 101' on the floor next to a broken calculator and scattered papers showing various numbers including $2,300 and $3,050. The background shows a faint image of Gary Gensler's face in the news headlines about him being considered as Treasury Secretary candidate. In one corner is an empty chair with 'Leveraged Traders' written on it;

It’s not like anyone is surprised that Ethereum (ETH) dropped 3.75% on Aug. 20 – after all, what else would happen when a bunch of crypto bros’ hopes are crushed by the realization that their precious Gary Gensler might actually have to do some real work as Treasury Secretary? I mean, who needs stable governance and regulatory oversight when you can just make up your own rules and pretend it’s decentralized.

Source: cointelegraph

Why is Ethereum (ETH) price down today?
https://cointelegraph.com/news/why-is-ethereum-eth-price-down-today
Ether (ETH) dropped 3.75% on Aug. 20, as another “diamond hand” Ethereum whale sold 15,000 ETH over the past 24 hours, onchain data suggests.  The marketwide correction occurred after it was reported that Gary Gensler, US Securities and Commission Chair, would likely be the Treasury Secretary candidate if Kamala Harris wins the US election in November.  Although Ether’s correction over the past day was relatively minor, the leveraged traders relied […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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