Hi all, brand new user of Steemit here :) Also an investor in the sense that i purchased some tokens on Bittrex.
Can we begin a discussion of the situation around Ethereum ?
From what i can see, Ethereum experienced a huge price increase this year from below $11 to over $400. A phenomenal rise, but not without precedent in the Cryptosphere. Im curious on peoples thoughts about the current market price though, do we see it as a simple correction necesary because of the overinflated and exponential growth in price, or is it really a bubble such as we experienced with dotcom around the 2000s? Im also wondering if the price is going to fall a lot further. I imagine the market correction mechanism is going to lead it to drop more, but how much are we talking? Are we going to be holding a worthless token in the not too distant future?
The ideas, momentum and technology behind Ethereum - and the allowing of smart-contracts seems quite a game changer to me with many uses in the real world. But then why would the coin experience such a rapid fall in value? Perhaps the fall is simply due to so many early adopters of crypto coins in all their guises selling them off and taking some much needed profits - we can certainly see a huge drop in market capitalisation from around $110B to under $100B....
Anyway, i wanted to start a discussion around these thoughts, and welcome any input you all might have :D