With the Ethereal summit 2017 happening right now, Ethereum has broken out of the gate and is on the charge heading to the heady figure of USD$200. It was only a week ago that the Ether world was shattered when the ETH token value broke through USD$100 for the first time, but now this is simply a distant memory.
So what is causing this massive shift?
There are multiple factors that anecdotally are at play that is causing this shift as follows:
Awareness - right now more than ever there is an exponential range of websites, blogs, Youtube channels and media covering Blockchain. Specifically, there has been a massive amount of discussion in Ethereum, as even the average person can wrap their head around a platform which will essentially provide the tools for others to build on similar to Apple App store, or Google Android Cloud.
Industry - having talked to friends in senior positions at several multinational companies there is more than awareness of the blockchain, there is active internal projects happening in this space. As word of these projects permeate through the respective organisations, more people are exposed to the technology. The combined effect of both points 1 & 2, I feel, are responsible for the overall market cap in the blockchain industry sky-rocketing as shown in the attached chart
ICO's are HOT RIGHT NOW
Even within the blockchain community, there is consistent talk to get in on ICO's. I strongly feel that this is due to the fact many new players have felt they missed out on the massive gains of Bitcoin and Ethereum and want to be in early on the latest companies to enter the space. Many of us have been sitting on our hands watching this 10x or 100x growth and got a little bit of FOMO - so its time to take action.
Overall, it is hard to put a finger on what is the bubble and what is fair market growth and gains. One thing is for sure, the blockchain community is durable, having seen wild spikes and crashes, hacks and cons. Major players are here to stay!
Enjoy the ride - KTB
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