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Ethereum Price Drops Under $2,000 As Dormant Whales Dump, Here’s Why It Can Recover Fast

The Ethereum (ETH) price has fallen below $2,000 due to a massive whale dump by dormant Ethereum whales who purchased a massive supply in 2018. However, on-chain data provider Santiment believes that the recent ETH price drop won't last long, and there's a high chance that the ETH price may recover back to $2,000 and more. Santiment reports that when dormant assets move, they can indicate major price shifts, usually in a positive direction. The mean dollar invested age has also been moving downwards over the last week, which is historically better for a bull setup. The recent dump of 150K ETH isn't a terrible sign as each address has made just one large accumulation. Ethereum has delivered a solid performance this year, with the ETH price up by 70% year-to-date. (coingape)

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