Maybe.
I used to think $170 was a good re-entry point for ETH, I came to that conclusion 20 days ago when I sold all my ETH back when everyone was saying ETH will be $400 soon! https://steemit.com/cryptocurrency/@wvm/i-am-the-only-one-15-days-ago-that-saw-ethereum-massive-price-drop-no-one-talked-about-it-at-all-when-i-saw-it-in-fact-people
Right now I think, if I do decide to go back into ETH a good re-entry point will be $150 and below but keep a close look, will it reach below $150? I think it may... in the next 15 or so days we have leading to Aug 1st.
Right now, if you look at the market, what has happened is, early adopters to cryptocurrencies are cashing out in anticipation of a BTC fork on Aug 1st. When they cash out, the majority of exchanges use BTC to convert to fiat so that is why BTC was stable for a while at $2300, but now those early adopters are cashing out of their BTC for fiat, you are seeing BTC drop, my assessment for the next week of BTC is $1900 to $2100 which I wrote about here https://steemit.com/bitcoin/@wvm/now-is-the-time-for-btc-to-fall
The question is how far will BTC drop? My guess is if there is a hard fork on Aug 1st BTC can actually drop below $1000.... impossible you say? Not impossible, last time I spoke to a youtube channel that analyzes crypto charts on a daily basis 20 days ago about Ethereum dropping below $200, he told me that was "impossible," he was wrong. Read here https://steemit.com/ethereum/@wvm/ethereum-second-crash
If BTC hard forks into a BTC classic and BTC like ETH did when vulnerabilities were discovered in ETC, I predict BTC will drop below $1000.
If BTC experiences a soft fork I predict the low between $1000 and $1200 for a while.
ETH has been tethered to BTC for some time, if BTC hard forks I see it dropping below $100 if it soft forks I see it dropping between $120 and $150.
So will I invest in ETH again? the answer is.... maybe.... but lightly. I'd rather invest in OMG coin which will use ETH, but I think expand in the future to other coins, I really like OMG coin and am investing in it. OMG coin is the thing that may actually save ETH.
Ironically, I see more potential for OMG than I do ETH. ETH may be like a processor in a computer, while other coins are like the OS. There are other coins that use smart contracts that do a better job than ETH, ETH just has the foothold in that market first but I see better coins taking ETH's market away from it. I won't go into details on what those coins are.
This bloodbath we are seeing is an incredibly exciting time for new investors, a little bit of patience and knowing when to buy is needed in these next few weeks. I'm very excited at what I think will happen in the next few weeks!
Im holding until the moon!
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This post received a 1.4% upvote from @randowhale thanks to @wvm! For more information, click here!
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Interesting blog. I was about to post a similair thread. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. I was researching a way to do better investment analysis on the current cryptos. I found this amazing platform: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. Check: https://www.coincheckup.com/coins/Ethereum#analysis To check Ethereum Indepth analysis
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