When a lot of 'beautyqueens' are tagging each other in a Facebook post from a newspaper and saying let's be rich you know there is something not right. I am living in the Netherlands and Ethereum came up a lot in the news here in the few past days. The media is saying to buy ethereum to make the same profits like Bitcoin. They call it a second change to make some easy money. Yeah, if you are talking in years they are maybe right. But not now. Not now. When you don't know what HOLD is and you are new in cryptoland you are sensitive for panic selling. Which means, newcomers are gonna lose a lot of money if they do not pay attention.
I think this ethereum thing is really mindf*cking. People who where sceptic before when bitcoin reached 1000$ regret themselves they didn't bought after all. Because bitcoin reached $3000 a few days ago and on Facebook you see a lot of posts about people with their success stories. This creates even a greater pressure for buying Ethereum. People want to hear what they want to hear and think very emotionally and the media here are increasing this.
Let's take a quick look at the graphs from Bitcoin and Ethereum.
In this picture te time frame from Bitcoin and Ethereum is exactly the same. We see some scary similarities and if $400 was ethereums ATH, then we have to hold our breath when Ethereum is trying to reach this ATH again. What I said above with that media thing, that thing happened exactly the same on that moment in Nov-dec 2013 for bitcoin.
And on top of that, posts appear about ethereum (like some scalability issues and the run on the ICO's). The perfect ingredients for making that same move like Bitcoin did. And at the same time there is some heavy competition incoming: Antshares (ANS). They have like smart contracts 2.0 which is really promissing. And it's Chinese. I think that's awesome.
I can talk alot about this but I think it is better to do your own research. Read about ethereum and the risks you are taking at this moment. And on the same time, take a look at Antshares, which is really promising.
I'm telling you one more time: making fast money with Ethereum, that is not gonna happen. If I'm wrong, maybe Ethereum will not make that same move like Bitcoin did (where it tooks more then 2 years to reach its old ATH. But the risks are very high at this moment. Maybe you will miss some profit by selling ethereum when I am wrong, but then you can consider to buy ethereum back when its like 440$ or something. That would mean 10% less profit but hey, what's 10% in this crazy crypto market? And I would like to bet that when you are stopping that money for a short period in another promising coin (or multiple coins) you make a lot of more then that 10% profit you are possible missing on Ethereum.
That was it. Sorry for my very fast writing because I know this is not very good English. But my weekend is starting and I am gonna take a beer with some friends in my home town because there will be 5 days of fun. I don't know the exactly right word but Google Translates says it is called a 'fair'. It's like a mini theme park on the streets. And a lot of drinking in the pubs.
So cheers and I can't wait till 21th June! (if you will do your research you know why I mention this date) :)
EDIT: this is not meant as an analyse or something, its just a 'pay attention' post. People can't expect that ETH keeps rising this fast. I just thinking we are close to a trigger that causes a similar thing like bitcoin. Time will tell.