So everyone is asking why did ETH actually go up so high
Just to drop just as fast
Well its quite simple...
Etherium went to over $420 USD just today
As soon as others started pouring in money EVERYONE else followed.
So what drover the price?
3 simple letters
ICO's
Today Bancor's ICO raised around $144M in less than 3 hours
AMAZING and quite crazy if you ask me
But...
That is the exact reason why ETH's price drove so high.
There was $144M that had to be converted from BTC to ETH just before the launch.
So when $144M BTC started dropping like crazy
And when BTC was dropping the money went into a pool for ETH
And now that money will stay a bit stable for the next few weeks as Bancor is so new that it won't be traded as quickly as other coins in the marketplace.
So...
From what I am getting on this is...
When there is a new ICO right now and its on the ETH platform than BUY BUY BUY just before the launch.
$144 million in USD that was needed to get into ETH drove the price of Ethereum in just a few hours.
How did I do?
Well I purchased around 50 ETH and I purchased at around $130 earlier in the day. Price went to around $400 and is pretty stable there. That is a HUGE win for me and lots of others.
Are you trading yet?
If not you should start NOW!
First thing is go to Coinbase.com