Where Will Ethereum Bottom at? $100? $50? $10?
As you've surely seen by now, the FUD surrounding Bitcoin's August 1st SegWit decision has the whole cryptocurrency market in a bloodbath downturn - at least for now, that is.
Ethereum, down 59% from one month ago as of the writing of this post, has been hovering around ~$140 today (7/16/2017). Now the big question is, where's the floor?
Since we're still two weeks out from August 1st, there's no reason to think this downturn is over just yet. Of course, we'd all be happily surprised if that were the case, but we're definitely looking at a stormy forecast in the short-term.
It's really all up to Bitcoin, since when Bitcoin drops, all cryptocurrencies drop. Crytpo-wiz and fellow Steemian @craig-grant sees Bitcoin potentially hitting $1300 and Ethereum hitting $55 in the coming days. He even remarked that $10 Ether could be a possibility before all this short-term chaos is said and done.
Nothing's changed with Ethereum's fundamentals. It's still extremely sexy long-term and has the potential to revolutionize the global economy. This volatility's just going to have to shake itself out, there are a lot of factors at play.
How about you? Where do you think Ethereum's bottom will be? $130? $60 $10? Be sure to sound off in the comments below and let me know what YOU think! It's really anybody's guess right now, interested to hear where you stand!
Thanks for reading, folks. Check out my other latest post if you're interested!
-WMP
I think it can wall to the 80-100$ range. Hope to buy some if it happens.
Me too! $100 would be fantastic.
It's not very likely to happen, but nevertheless the bottom is always at the bottom i.e. at ZERO.
@pibyk
That's a great point - absolutely correct, too.
It was $8 at the beginning of the year so the month-long decline is discouraging. I could see it dropping into the $85-$95 range like it was in early May.
That seems really reasonable, I think if it hits those figures it wouldn't stay there for long!
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Thank You - @blueorgy
Awesome thanks kindly @blueorgy
I honestly cannot even fathom where the bottom is anymore. I have lost alot, like for example, to do transactions or convert things like Aragon, Augur, Golem, EOS..etc I need a bit if ether, now that it is going down so much, I can hardly afford to even have Eth baised coins because im loosing so much with just transactions, this is crazy! Like for example today, I want to convert my Aragon to somthing else like LTC, but I dont have enough eth to do that because Its going down so much I will loose money getting some just to make a few transactions. How are other cryptos going to use eth when it keeps going down, its like now I want to get rid of anything that requires eth, and I love it its just loosing so much money ya know!
I definitely feel your pain! It's certainly a painful time to be swapping things around! Hopefully we'll start seeing an upswing in the coming days.
Indeed!