As I write, ETH is priced at $244.20 on coinmarketcap.
I'm making a prediction that the price will fall over the coming week.
My reasoning is:
- the EOS ICO is already cashing out the ETH from their ICO (via bittrex) which creates an ongoing downward pressure on the price
- the Tezos ICO will finish on the 12th, shortly after they may also start selling. This is potentially hundreds of millions of dollars worth of ETH
As soon as the market begins to anticipate this it will get spooked and even exaggerate the effects.
I bought some ETH last week but am now holding off buying more to see what happens over the next couple of weeks.
This is not investment advice, just me as a novice making a testable prediction on the blockchain.
So far, ETH has fallen to $210.19. But, this seems to be part of a wider sell off and not just ETH.
I picked some up on the dip below $200... Now back up to $210. Wonder if it will hold at this level?
You could be right or not. Remember when it comes to cryptocurrencies nothing is too sure. Its 50/50
The one "sure" thing about cryptocurrencies and especially ethereum is we have no idea what it's going to do. Of course I hope it moves upward above $300 next week, but I have no idea what will happen. I guess we are all in for a wild ride.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by digimad from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.