Hey guys Danite here,
Just wanted to give you a quick review on ethereum, and on what I think is going on with the price of etheruem lately. Am l still quite bullish on etheruem or not?
Well, firstly I would have liked to have seen a little more impulsive structure from ethereum, like what bitcoin has done.
Bitcoin has really taken off, and catapulted (almost) up to the 6000 dollar mark. Amazing stuff really!
BITCOIN CHART
And despite a successful and huge upgrade with Byzantium, the price for ethereum has not reflected the initial hope of a continual surge in price. Ethereum has remained a little flat to say the least, and has dipped in price. That's not necessary a thing to worry about at this stage because it's still early days!
Ethereum has been through a lot this year, it's seen some great things happen, and had some record gains.
It's had an all-time record high of 420, but also a low time of 130 dollars, and if you exclude the brief flash crash where it went down to 15 dollars overnight because someone sold like 30 million dollars at once, it rebounded back very quickly, and in comparison it's doing more than okay now.
If you check the chart below Ethereum is still hovering around the 300 mark.
ETHEREUM CHART 2017
Eventually we will get a break in the pattern of early 300s and get beyond the 400 dollar mark at some point
We've reached 400 almost twice on the charts already this year, so I would expect us to break that again, and maybe get up to 500!
Price prediction is a hard one to gauge though, but if we continue to hear good news coming out, and with cryptocurrencies continuing to grow in popularity around the world every day. I would expect us to easily head up to 500 dollars by the end of the year.
Overall I remain positively optimistic about the chances of ethereum going up.
I would definitely be a long term holder of ethereum because of the practical use of smart contracts, and the platform itself continues to attract a lot of interest from companies and banks from across the globe.
The ethereum platform will ultimately reshape the internet in years to come. It certainly has the edge over Bitcoin in terms of technology, and let's face it the block-chain will be a huge game-changer that people will no longer be able to ignore. It's also one technology that will ultimately pay-out in years to come for people willing to invest into this platform early on.
SO I would love to hear your comments on ethereum. What do you think about etheruem?
Are you considering to invest in cryptocurrencies in the coming days, weeks or months? Or are you waiting for the right time to get in?
Bye for now,
Dan N