CRITICAL POINT - Crypto Bounce (UP) or Correction
Today we are in an unknown as to crypto pricing. Logically speaking, it would seem we are in a downward trend with Ethereum and other cryptos
Below is the price graph of Ethereum. As you see, the overall trend is upward. There were 2 other instances where the price dropped quite a bit and came back up (see below).
What do you think? Is this a short term bounce (Good Buy Time) or long term price correction? Let Me know below.
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Well you know what they say, you have to risk it to get the biscuit :)
Upvoted and resteemed!
Buy buy.....
Right time to buy.....
I feel that it is a good time to buy. I have been hesitant to buy into ethereum but this downward swing is changing my mind.
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Personally (and this is JUST my opinion of course) I think a big correction in Bitcoin was inevitable. The sudden upswing away from trend was in part I think based on the good news from Japan and Australia etc about further adoption of crypto and was rising too fast to be in line with actual volumes. I think (and again its JUST my view) that once a period of adjustment is over, BTC will climb at a more realistic pace and will smash through the $3000 barrier for the longer term.
It's just a little dip, the markets will start rising again soon.
More than a week ago a drastic price drop happened. There was no specific information in the crypto news sites about the possible reasons for that. The situation now is the same.
Essentially what is happening is that an ICO is made (Initial Coin Offering), and then the money from the ICO is converted into Bitcoin and Fiat. After that, the Bitcoin is sold, and the fiat concerned in all cases is banked.
This produces downwards pressure on the cryptocurrency ecosystem, and as a result, the net worth of the market drops. The market itself can recover, but only with the influx of new captial, which is typically coming from ICOs. Expect more of the same while ICOs are appearing like flies.
Well, it means then that the expected rise of BTC price is postponed for the unknown future, doesn't it? (if ever happens, of course)
The ICO cycle is dependent on both human psychology and the availability of VCs, which are in limited supply. Ultimately the ICO system fails when not enough investors are putting their money in, and this is typically produced by an external factor that affects the overall market.
At the moment the major factor that will affect the Ethereum price will be the instability in the Bitcoin ecosystem over the next few months, due to the BIP148 vs Segwit2X situation. It largely depends on how many mining groups show themselves to be untrustworthy, and that is a simple matter of watching. The prudent investor will simply hold during this turbulent time.
Could you explain what does VC mean, please?
VC is short form for Venture Capitalist: http://www.investopedia.com/terms/v/venturecapitalist.asp
I guess these are the so-called crypto whales :)
Perhaps it is a Good-Buy-Time. The ICO hype will slow down at some point. We are also seeing some financial crisis in "some" countries :).. As a whole I think the values of crypto will rise, it is only a matter of time and I am not good at predicting how long it will take for the price to stabilize :)
Buy