For those that haven’t been following iEthereum very closely and reading this blog for the first time, iEthereum’s price is known for its significant fluctuations on a semi-daily basis.
The price can rise by 600% and then fall by 80-90%. Currently, iEthereum trades within a range of $0.02 to $0.13, but as you can see in the images below, these values aren't rigid. Trading patterns still emerge, and I believe a major double-action springboard rocket ship pattern is forming.
What causes this variance? I've been exploring this question for several years and have delved into potential causes. Traders, without understanding the intricacies of the iEthereum project, often point to algorithmic bots. I tend to agree, but why don't we see these patterns in BTC, Ethereum, or other tokens? Algos run on these projects too.
I have three theories:
Low Volume Coin: iEthereum's low trading volume results in extreme price fluctuations. iEthereum is traded in pairs, mainly with BTC and ETH. If there is no trading volume at a given moment, the price remains constant in BTC or ETH terms. However, if the price of Ethereum or BTC changes, the USD price of iEthereum fluctuates accordingly. For instance, if the price of iEthereum in ETH is 0.00000613 and Ethereum drops from $4000 to $3000 USD, the iEthereum USD price will change from $0.02452 to $0.01839—a 33.33% change without any trades. Although this makes technical sense, it does not fully explain why iEthereum fluctuates between $0.02 and $0.13. The recent drastic price drop in Ethereum did change the price of iEthereum by 33.3%, but this theory alone doesn't explain the consistent fluctuations.
CoinGecko Reading Two Contracts: CoinGecko might be reading two different iEthereum contracts. This wild fluctuation from $0.02 to $0.13 could reflect the methodologies and APIs these sites use to fetch data. Even when there are no transactions on iEthereum, price fluctuations still occur. This leads me to think that CoinGecko is still interacting with both the original iEthereum and iEthereum Red contracts. In 2020, a new iEthereum (iEthereum Red) was created with the same logo as the original but with a red outline instead of blue. Until we hear further confirmation, we tend to ignore this other iEthereum. However, CoinGecko might be confusing the two, affecting the reported price. With that said, Bitcratic and iEthereum Red are no longer active, this observation is less relevant to current price fluctuations. This inconsistency led us to start our monthly reporting, capturing actual pricing via the network instead of relying on third-party intermediaries.
3) Manipulation to Constrain the Project: There might be intentional manipulation to constrain iEthereum from public view, acting as a governor to adoption.
We gained two key advantages by choosing to constrain the use case to a subset of tasks within a larger, well-known system: 1) simplicity; 2) the ready availability of knowledgeable business, technical, and cybersecurity resources
Holding the price down can deter interest and simplify monitoring and observation of a low-volume coin. I don't want to suggest a conspiracy, which implies unlawful intent. Instead, it might be a collaboration or partnership aiming to achieve a shared, legitimate goal.
Why is iEthereum undervalued? Why does its price vary so greatly? The variance could be due to coin index sites reflecting current prices via proprietary API data feeds, centralized exchanges like Yobit reporting daily trades, organic market patterns, or a combination of these factors. The exact cause remains uncertain, but these theories offer potential explanations for the significant fluctuations in iEthereum's price.
As Nikola Tesla once said:
“If Edison had a needle to find in a haystack, he would proceed at once with the diligence of the bee to examine straw after straw until he found the object of his search. I was a sorry witness of such doings, knowing that a little theory and calculation would have saved him ninety percent of his labor.”
What I see is a major double-action, ascending cup and handle, triangle with a bullish inverse head and shoulder divergent triangle pointing to a springboard rocket ship pattern forming. Squint to see in the image below.
iEther way, We see Value!