Major sell time for Ethereum after the critical bug discovery

Yet another critical bug, probably the worst so far has been uncovered in the Ethereum software. Bug at Parity client is so bad that Ethereum developer decided to freeze all funds in multisig wallets. Rumors say that as much as 180 million dollars worth of ETH is affected by the freeze. And there will be little sleep tonight in the Ethereum Foundation because the decision has not yet been made how to even begin to solve the issue. There's even talk about yet another hard fork. It goes without saying that this will be a major hit for the network which is often criticized as developing in a hastily and insecure manner motivated by greed and characterized by many crisis that require centralized intervention from the Foundation.

Interestingly enough the price has seen only minor slippage. But as somebody who's been watching crypto game for years now I can guarantee you one thing - it is going down. Uncertainty and developers *uckups are some of the worst things that can happen to your crypto holdings. If you own any ETH (and it's not frozen) now is a good time to sell because trust me on this one when you wake up after this badly slept night your holding is not going up. As a matter of fact I will be very surprised if we don't see ETH/BTC price at the levels around 0.02 in the following weeks, and only thing that could save ETH from that fate would be a very ugly development in SegWit2X Bitcoin fork situation (it will happen around November 15).

Reason more why I feel very bearish about Ethereum is obvious end of ICO hysteria which is obvious anybody that has been watching Publica ICO; project with a really innovative, useful and realistic business model has been struggling for weeks to meet the very undemanding goal of one million dollars (its still under 300 thousand).

Those are my two dollars, if you're still not convinced make sure to watch the Ethereum price in the days to come.