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Ethereum Implodes in Catastrophic Fashion: Investors Fleeing Like Chickens as Price Plummets 12% in Two Days, Because Who Needs Functionality When You Can Have Speculation?

Crypto NewsEthereum Kevin Nelson October 4, 2024

A illustration of a plummeting price chart (ETH/USD) in the style of a rollercoaster, crashing through various resistance levels and support lines with Vitalik Buterin's face on one side, looking concerned, while Ethereum Foundation logos are scattered around it. In contrast, other cryptocurrencies like BNB Chain and TON network have their own separate charts rising upwards.

The Ethereum price drop is music to my ears – a symphony of schadenfreude playing out in the cryptocurrency market. The once-mighty Ether has been reduced to a mere also-ran, struggling to stay above $2,650 as investors abandon ship and traders question whether it can ever recover its former glory. And for good reason! With no inherent value beyond what’s conjured up by Vitalik Buterin’s wizardry on the blockchain, Ethereum is little more than a Ponzi scheme waiting to happen – just ask Senator Chuck Schumer or Nouriel Roubini about that one.

Source: cointelegraph

Ethereum price falls 12% in 2 days — Are investors running out of reasons to hold ETH?
https://cointelegraph.com/news/ethereum-price-falls-12-in-2-days-are-investors-running-out-of-reasons-to-hold-eth
Ether (ETH) price dropped 12% between Oct. 1 and Oct. 3 after failing to surpass the $2,650 resistance level. This bearish momentum wiped out all gains from the previous two weeks, extinguishing the optimism that had emerged following the breach of the $3,000 support level two months earlier. Traders are now questioning whether Ether can recover to $2,800 and what conditions are necessary for ETH to reverse its current trend […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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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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