Is This It For Ethereum?

It took bitcoin two years to recover from its 2011 hack because back then whether bitcoin works at all was very much in question.

For ethereum, the 2016 downtrend lasted about five months, from September to February, with the currency then taking off earlier this year not much different than bitcoin did in 2013.

The two latter crashes, in 2013 and now in 2017, did not occur because of any real external event, because of any change in facts, or really for much of any reason at all, except that they had risen too high, too fast, and the market thought they had done so, expecting them to go down, with any excuse ready to be grabbed.

But if ethereum continues to follow bitcoin’s trajectory, when it roars again it may do so in a way we have never seen before because its bull runs have been longer than bitcoin’s, its downtrends far shorter, its price gains a lot higher.

Moreover, ICOs need to be capped, unless they have a considerable number of users or revenue, with the ecosystem likely responding to the current punishment by the market.

In the process, through feedback, the platform is strengthened, incrementally and gradually improving, making it more appealing, leading to more utility, which may then lead to another round of euphoric boom and bust.

But we have to wait and see whether that will indeed be the case to be sure, because although the past rhymes, you can’t really predict the future with any level of certainty.

Full article here on TrustNodes