In one of my last blogs I wrote about how ETH is due for a major correction that will stick this time out, a second crash. I think we are seeing it. When I wrote this blog https://steemit.com/ethereum/@wvm/ethereum-second-crash ETH dropped from it's recent rally of $330 to $293. I looked at the graphs and through my analysis came to the conclusion that ETH was overvalued on on the way further down. At the time of writing this blog ETH is at $254, I feel it's new low will be around $170 then it will bounce back to it's new support base at $230 - $250.
I bought all my ETH at $200 - $230 and sold all of it at $300 - $320. I'll buy back in to ETH once it goes below $200, my best guess for that price range is tomorrow.....
Let's see what happens!
*Edit at 4:13PM No one knows the future! These markets are volatile very hard to predict but I think we will see a new low for ETH before we see new highs.
*Edit at 4:36PM I also want to stress this was my own personal strategy I was sharing with the Steemit community, I am in no way giving advice on investing, only sharing a risk I took a couple of days ago. I sold all my ETH expecting a new low by Sunday. I believe in the long term prospects of ETH and see it rising a great deal a within a year.
)
Please fall to the ground and make me rich young :)
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This post received a 4.7% upvote from @randowhale thanks to @wvm! For more information, click here!
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I hope your wrong but i think your right so i guess I'm agreeing with you, lol
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Well if I am right my friend tomorrow is a good time time for me to buy!
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If it drops below $200 I will definitely buy. It will eventually go back up.
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That's my strategy and why I sold all of it
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Upvoted you and will start to pay attention to your posts.
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dont joke like that it will go back up tonight!
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Maybe, but my guess is the low will be tomorrow.
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One factor is the rapidly approaching fork of bitcoin. EVERYBODY is going to hide in ETHER during this time which could possibly be the first time Ether surpasses bitcoin in price, then it will crash as everyone jumps back into bitcoin. You will make a killing off of these price swings if you play the market right
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Whether it goes below 200 or not tomorrow, who knows it was a huge risk I took.... but truth is I am really liking some of the newer coins a lot more
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The crash seems to have been catalyzed by a dealer presenting a market request to dump generally $30 million worth of ETH (96.1k) in one go, which destroyed the request book. In rundown, this is a result of severely outlined ICOs, in addition to egotistical and stupid mineworkers = major deferrals and perhaps considerable misfortunes for every other person.
I envision you saw the message that GDAX issued saying that they would cover misfortunes
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if that's the case what do you think of the sell now and rebuy at a queue point of $200?
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i would surely buy and buy
ethereum Price will be 1000$ by the end of this year
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I think we will see the new lows tomorrow early in the day.
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nobody knows the future mate
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Yeah exactly, it could rise back up, I am just saying it's hunch as your link to ETH being 1000 by the end of the year is....
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I am not saying I know the future, lol, I am saying I took a risk because these markets are volatile very hard to predict but I think we will see new lows for ETH before we see new highs.
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I've heard that prediction as well. As I'm looking at bittrex right now it hasn't gone down, hovering around $267 at 0.10853196 btc
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Yeah it could go back up, but I decided on buying alt coins.... not investing in ETH again unless it goes below $200
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I'm getting another PC Win 7 and looking for 2 crypto's to mine. I'm thinking about Sc and either RDD or XVG myself.
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btw where did you hear that ETH would go below $200, I'd like to see it....
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I saw a post by a tech trader responding to this post. It's in the ETH is going down. down, down. I'm checking bittrex and I don't see it happening right now. I was thinking of selling not and them rebuying if it dips below $200, but I'm holding off.
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Yeah I wrote that blog, haven't seen anyone say ETH will go below 200... don't even know if it will, it's just a speculation on my part as I said in my original blog, it's a huge risk.
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It's gone down from yesterday... from $295 and 2 days before that at $330.... these markets are volatile very hard to predict but I think we will see new lows for ETH before we see new highs.
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yeah a week or so it was at $360. Since I'm not a tech analyst I'm a bit leery of selling now and hoping it goes down to rebuy.
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I would say don't sell now, definitely not.... the time to sell was a couple of days ago, in my opinion. I think ETH has a lot of potential long term... it could be 1000 or 1500 by the end of the year, who knows....!
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yeah, that's what I'm thinking also. I see a good long term hold on it. Thx for the info
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Ether will go where bitcoin is going :-)
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Long term.... DEFINITELY
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Bad news
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I'm buying once I think it reached it's new low
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I also want to stress this was my own personal strategy I was sharing with the Steemit community, I am in no way giving advice on investing, only sharing a risk I took a couple of days ago. I sold all my ETH expecting a new low by Sunday. I believe in the long term prospects of ETH and see it rising a great deal a within a year.
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It's hard for me not to buy at the $250 level, but i'm waiting until tomorrow to see what happens..
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I really believe tomorrow is when we see the new low.
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