The recent bearish market movement in January lead to a major pullback in value of most coins of up to more than 50%. Until today Bitcoin is still down about 40% from its recent all time high along with a big number of alts, which are as well still moving side wards at values far below the recent highs.
That being said many might have noticed though that Ethereum staid pretty strong during this crisis as it basically didn´t loose any value against BTC at all and is currently moving only about 15% below the latest all time highs whenever one is looking at the USD values.
After a brief look on the chart above one might agree that Ethereum can either be seen as a crisis resistant token or that some bigger move upwards is about to happen eventually. I wouldn´t be too surprised as it´s one of the top 3 players with a huge community backing it.
On Youtube and other social media you may actually find price predictions of $2000 or $3000 for Ethereum for 2018, which are probably not too far fetched considering the big moves it already made in 2017. That´s of course no investment advise but only my humble opinion 😉
What Do You Think About Ethereum These Days?
Is A Big Bullish Movement About To Happen?
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I scaled out of ETH, BTC, and LTC in the last few months and moved that money into tokens I think have a higher upside in terms of multiple (like BTS) for the year.
That said, I am not totally down on any of those tokens. I believe you are right to point out that ETH could hit the $3K mark this year. That would not surprise me (it is a little more than a double from the high).
These blockchains have some issues at the moment but there are plenty of smart people working on them....they will figure it out.
Overall, ETH might be the best of the bunch although it is my smallest holding of the 3 (it might not be for long if BTC keeps going backwards).
I hear you and am as well not invested too big into those top coins anymore. Like you I focused my portfolio on steem and BTS as well as EOS. I just see more growth potential there as they are all massively undervalued, especially steem ;)
As I mentioned, I missed the EOS train but I have a nice position, I feel, in both STEEM and BTS.
Both should offer huge multiples...
Hell, @stan seems convinced BTS will be a 1000X....even if he is half right, what a windfall.
I'm not too sure whether you missed the EOS train just yet ;)
But hell even in case Stan was wrong about the last "0" it'd be awesome :)
Yeah I am not worried at all....
The price of BTS seems unaffected by the Arise news....of course it went down but everything went down the last 24 hours.....
So I think it is a non-issue at this point.
I sense, in a strange way, that tokens are a bit different than the stock market....while general news whacks things, I dont think individual news that applies to a blockchain does much. Arise was just one part of the BTS story.
The flip side, we didnt see a boost at the hacking news either...you would think BTS would fly on that.
Just an observation that might not be accurate..
The fact that there are a lot of projects and ICO's using ethereum platform makes it much more resilient to bad news and at the same time, much more strong for good news. We will have to see how EOS does after it launches its site this next summer, lots of expectation on that project which will directly compete with ethereum.
I somehow like Ethereum but whenever I'm honest it doesn't do a lot except breeding crypto kitties and producing a lot of ICO's all the time.
EOS might therefore easily kill it in case it's really used for business purposes
My feeling is crypto is most cryptos that have a really good project are totally undervalued. Steem should be 100+per coin easy. We have our own social media!
Our transactions are instant. Our transactions are free! Why pay ridiculous Bitcoin fees when you can send money for free. Once the steem/fiat thing is set up it's moon time.
Well value is always created in the heads of people. It doesn't always have to be the best product but rather the most well known. I'm with you though that steem is massively undervalued.
I believe ethereum will be a big hit this year. Let's all take some piece on it :)
I am in a whatsapp group that deal on crypto currencies trading the admin of the group being a middle man. And in that chat,there has much trading on EThereum and the price has been worth it. So for EThereum,i suggest it will have a boom up that's if bitcoin is outta sight and lose patronage and i am not seeing that in the future because alot of nations has been encouraging bitcoin and about making it as a legal tender,nations like japan,Nigeria,Germany,Russia..etc. and these are great nations,so for me,EThereum is enjoying the crypto market while it last. Thanks @steembusiness for your update.
Can you share those news of germany legalizing Bitcoin as a tender?
nice blog.. 👆👆👌👌
cool comment (not...)
Ethereum>Bitcoin in pretty much all ways.
Only reason people use Bitcoin these days is because it's the main pairing coin.
I agree with you
I must tell you @steembusiness that your crytocurrency market analysis is of a great importance to us traders especially myself, it has always help to take right decisions. It's a great work you are doing out there, pls continue the good work. Ethereum it's doing great against the bitcoin and we still envisaged a great rise in days to come.
Thank you, this is definitely no financial advise though!
I'm loving that I pumped up my ether pos around $400ish a coin. Best call I've made this year. Hope you all got more Ether!!!!
I guess a lot of people did whenever it dropped back to 800$
Ethereum is looking really good right now.
Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application... so yeah it may prove to be good in near future
I think your post is very useful to me and steemit friends
I got a little overly excited about putting my money into coins that are on exchanges, now that I’m trying to put some back into my wallet, Etherium and eos are my main choices. I’m still tempted to put more into Neo and Icon. I think these coins are going to have the biggest growth in the coming months. I’m guessing small caps are going to take a break as a few dapp platforms start to catch up with bitcoin cash and ripple.
At this point, I might take Etherium over bitcoin though as my safe pick.
I'm bullish on eos as well. It just seems to have some huge potential :) Let's hope that it makes the same way up as Ether did last year ;)
A lot will depend on how different countries start to regulate crypto.... Price movements in the past may or may not predict the future
Will follow you suggestion :)
@steembusiness, Ethereum is like the hedge of Bitcoin. A lot of people use that to create a barrier of lost, buying ethereum and bitcoin to decrease the losses. That is amazing, since if we don't have that, maybe the market will be more and more unstable.
While Bitcoin trading is limited to buying and selling, Ethereum has huge potential due to it's diverse ERC20 applications. It is the safest bet in cryptocurrency.
I rode ETH from 900 to $1300 before trading most away, which was both good and bad, it's such a solid coin, seems to be one of the safest options these days. The bear days actually worked out for me... VEN, NEO, EOS all performed great