Ethereum is holding on it's position quite nicely and i doubt if it will ever fall from its $365 price. If anything i predict it will hover around $450 for a while in the coming days.
Ethereum has been widely adapted in many financial institutions making its value soar. This has cemented the future for ethereum making it a buy and hold long term crypto.
Prediction
Given the long term value on ethereum i would suggest buy and hold for not less than 6 months and by then the price may be $1,500
I am waiting for all the companies that ICO'd on ETH to start selling to cover overhead and expenses. It is going to be a big, big problem..
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I hadn't seen this angle! Damn you're so on point! They are known to dump when things are high to make quick profit and this behavior leads to some sort of bubble and discourages others to invest there. The problem here is they have lots of fiat making it pretty hard to lock them out
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ICOs are creating artificial demand for ETH; when artificial demand < aggregate overhead for all these companies that have funded themselves via ETH there is going to be a race to the bottom. Unlike speculators these companies are now growing and scaling - hiring, leasing office space, buying equipment etc. and they have bills to pay. They are going to pay them by selling ETH for fiat. When ETH starts to slide there will be a panic to secure their revenue stream, everyone will sell gobs of ETH to get their hands on cash. Imagine what would happen if Bancor decided they needed to secure $50M in fiat in order to deliver to their shareholders? It comes out of ETH. And that is just one company.
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Yea but this assumes the ICO train is going to stop too. ICO's are creating demand for ETH at the same time these startups are selling ETH. Right now though I'd say the demand to buy ETH is higher, and will be for the foreseeable future with the amount of money Status just raised.
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ICO's are going to move to EOS.
:)
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Imma have to checkout EOS then. Thanks for the tip! :)
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It will be very much worth you time. Welcome!
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Hopefully it'll be able to handle the load better. I can't even send ether at the moment due to the congestion this Status ICO is causing. :-/
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Check Out My video of Why Ethereum is the future of the internet
https://steemit.com/ethereum/@newmarket65/why-i-believe-ethereum-is-the-future-of-the-internet
Follow Me and I will follow you
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Great article, this giant has some fuel left, only time will tell where it will go. Check my blog out on Ethereum, more insights as to where this train is heading https://steemit.com/ethereum/@daudimitch/ethereum-is-less-than-7-billion-usd-away-from-overtaking-bitcoin-marketcap you are also welcome to leave comments
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Check Out My video of Why Ethereum is the future of the internet
Follow Me and I will follow you
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Ethereum will gain confidence. This is how the Bitcoin started. At first no one wanted it. And little by little it began to go when people knew that this currency had of the future.
I have already invested a small sum in Ethereum that I am not ready to withdraw. I will leave for a long time hoping that it will go up to the same level as the Bitcoin up to 2500 dollars why not. thank you
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