RE: Wonder Why Bitcoin Is Back On the Rise Again: The Market In China
@whatageek what are your thoughts on the popular speculation that Bitcoin would retrace to 1470 USD before running consistently through 2018? Was this China news not priced into the speculation. Also, this may be a bit off topic but it seems there is a brewing belief that Ethereum is a bust. Personally I have been feeling like Ethereum and Ripple (XRP) were more dependable and promising than even Bitcoin. When news hit earlier this week that Ethereum would be traded on two new Chinese exchanges, everyone assumed the price would rise and it was exactly the opposite, meanwhile XRP ran. I mention these altcoins because, outside of maybe RIpple, it does seem as though they are all inherently linked to the rise of BTC. My question is have you heard anything recently that can account for the dip in ETH. Is it more than just China trading it? If it does have to do with China and people selling on the news, shouldn't it still rise based on your theory here?
Best Regards
May All Your Steem Be Fire
I have not heard anything bad about eth, why do you say it is a bust? I think the drop in price was just a correction, there was a crazy spike, unless I missed some news or a flaw in the coin. My personal opinion, and I am, in no means, an expert, is bitcoin hits the $4,000 mark by the end of the year and then some (maybe even the 10k mark) and ethereum kicks butt as well. I think in July, when Austalia makes it legal and Japan drops the 8% tax, you will see even more of a rise. I think, eventually, there will only be so many coins that can thrive and these two are will probably make the cut. I like Ripple because of the banks and of course I hope steem makes it as well.
I am an ex Capitol Hill reporter turned full-time digital marketer and content creator, which is why Steemit overnight became my all time favorite project and I am 100% all in to play my part in ensuring its success.
That said, my journalistic background compels me to always assess all the angles and sides of an argument and keep myself and others honest.
This video is the reason why I say, I heard Ethereum is a bust, I may have mis-interpreted the context of what Tone Vay was saying here but he references his speculation that everyone is going to lose their ether in the context of it being past tense about news related to the Dow and saying he was correct. I think it was a joke but truth is said in jest. I tried to share the exact point in the video where he says it, but it's at 44m51s . He is also very critical of Steemit.
Also this is an article currently trending here on Steemit by @Joseph where shots are being taken at Ether mainly due to the fork and some other developments. I am heavily invested in Ether and plan on investing more in Steemit as well. I just like to keep my eyes open and stay informed.
https://steemit.com/ethereum/@joseph/why-will-ethereum-fail
You asked why. That's why. What's your take on it?
Always smart to keep your eyes open and do your research :). Thanks for the links, I'll try to get back to you on that when I read the article. And if you see a problem coming please let me know.