Striking Oil

When it comes to the latter I don’t think it really takes too much imagination to understand why it is a good buying opportunity, oil is currently trading at around $42 a barrel, I’ve actually been quite sceptical in this market up to this point because it’s been gradually sliding in value for quite a while now; oil was one of my favourite markets to trade last year and my reasoning then is pretty much the same reason I think that now is a good time to rally behind oil. The price is low, but oil is essential for so many modern staples; I feel “plastic” as concept makes that point, given that oil is a limited resource and consumerism is rising almost exponentially I find it impossible to believe in the suggestions that oil is being phased out just because there are light developments in energy efficiency, petrochemicals aren’t being phased out…   

Concerning Ethereum

I will admit I started to get a little bit paranoid over the past few days about ETH; I’ve seen news about governments trying to control crypto-currencies and I was worried about the loss of value in ETH specifically because it is low enough to be easily flattened by an agency like the Federal Reserve; I feel like Bitcoin is too large and too far reaching to be effectively controlled, especially given that they can’t inflate the currency to gain value as it just makes their money weaker. I was worried about Ethereum because it’s small enough to be manipulated through strategic market action, however this made me think, if this happens then the ETH community still exists and that low price of practically nothing would allow a few people to gain early Bitcoin levels of profit (also miners can’t be manipulated). What I’m getting at is I’m progressively buying more ETH as the price drops further, I highly doubt the previous high was its lifetime peak….   

Also DAO was hacked? My Advice, treat crypto money like gold, not Paypal credit...