Ethereum 
$2,336has seen a strong selling pressure of almost 10 percent on the weekly chart and its price is currently down to $2,366. Some market analysts argue with the log regression model that the collapse of the ETH market has just begun and there is a possibility that the price will fall another 50 percent.
Regression Model Marks Big Crash
Popular cryptocurrency analyst Benjamin Cowen predicted that Ethereum outperformed Bitcoin according to his log regression model. 
$60,521When it broke the support level against , the ETH/USD trading pair fell 70 percent to the sub-logarithmic regression trend line. Currently, ETH has lost 41 percent of its value, raising concerns that a similar scenario could occur this year.
“I think the price of ETH will fall by 50 percent by the end of the year and recover by 2025,” Cowen said, advising market participants to consider the risks.
Decrease in Market Investor Confidence
Earlier this week, Bitcoin and altcoins crashed as the Israel-Iran conflict escalated, delaying expectations of an “Uptober” rally. On the other hand, Ethereum ICO era whales continue to sell their ETH, indicating that long-term investors’ confidence in this asset class has decreased.
Corporate Interest Is Declining
Total investments in spot Ethereum ETFs remain low, indicating that institutional investors are preferring BTC to ETH amid current market uncertainties. However, Ethereum co-founder Vitalik Buterin is focused on making big strides within the ecosystem. A day ago, he proposed reducing the ETH staking requirement from 32 to 16 ETH.
These developments demonstrate Ethereum’s efforts to adapt to changes in market dynamics. The price fluctuations experienced by Ethereum stand out as important indicators that investors should pay attention to. The future of the Ethereum market will continue to be shaped in the light of both technical analysis and macroeconomic factors.
Keeping a close eye on Ethereum’s future price movements will play an important role in making strategic decisions for investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
