Ethereum (ETH): How Likely is a Lower Low?
6 years ago in #ethereum by haejin (87)
$197.50
- Past Payouts $197.50, 0.00 TRX
- - Author $143.19, 0.00 TRX
- - Curators $54.30, 0.00 TRX
That's a good question @haejin - I guess it really all depends on how long of a time frame you are looking at. If you are just talking about the next wave cycle in the Elliott wave, you are probably looking at a lowest low of about $100 to $150 for an absolute lowest low... But that is definitely on the semi-distant horizon and I don't think that's going to happen in the next couple days. But if we break the downward trend cycle like we have been doing with Bitcoin, we could easily see $100-$150 Etherium. However I will say this, yesterday I spent $600 on 7/10 of an Etherium because I just couldn't pass up how cheap it was - ntm in the next month I could swing trade that same position a few times - whether it's going up or going down. I'm loving the new low prices but if they go lower I'm going to buy even more! Now I'm hoping things don't go as low as I'm projecting, but it's nothing to be afraid of either way, we can make money on the way up or the way down so it doesn't matter to me. I just like a higher fluidity in the market because that brings more speculators which beefs up the price. But you know all that.
To answer your question I definitely think if the downward trend continues in the path that it has been going, at the lowest absolute point we could see Etherium could probably be around $100. Sorry to reiterate again, I just got excited because I bought some
Etherium yesterday
I will however say one more thing about Etherium versus 95% of other cryptos, Etherium with the ERC20 contracts allowing the tokenization of just about anything you can manifest is a huge utility for the coin.
Short of considering Neo or another coin offering a similar feature, Etherium is here to stay because it offers so much utility beyond just being a speculative tool. I think what most people fail to realize about some of these cryptos is their ability to be used outside of trading. Etherium is one of the most versatile coins ever created and it didn't go to $1,000 for no reason. Not only has it lived up to the promises that the developers projected on their initial roadmap when creating the coin - since inception, it has spawned so many new innovative great ideas that only further concrete the overall intrinsic value of the price of Etherium.
This is one of my predictions, please don't take this as fact, but at some point we could actually see Bitcoin get cheaper than Etherium because of the sheer utility of the coin. It's an amazing currency and I hope that it doesn't go as low as I'm projecting but if it does, we all know that by May or June the markets will be back to the way they were and on the next high we could easily see $1,800 to $2,400 Etherium! So take my recommendations with a grain of salt but that's my honest opinion, Ethereum is one of those special coins that I will always hold just because it's so useful outside of just speculation. When people ask me what to invest into, I tell them Etherium - I don't even mention Bitcoin anymore for so many reasons. Now if someone doesn't know anything about cryptos I will talk about Bitcoin but for the most part if they are even remotely educated on the subject I either tell them to invest into Etherium, unless they are looking for a higher risk position in which case I tell them to invest into Tron. God knows I could continue, I feel like the only intelligible conversation when it comes to cryptos happens here on your comments I think that's why I gravitate here so much but I will stop this comment before it ends up being a book LOL! Have a great day brother and thanks for the great question though @haejin, keep them coming!
Amazing work like always. For a holder is good to know, but not critical, in the long term eth is gonna moon haha
I don't know if there's a lower low, but I haven't sold any of my ETH, not even above 1000€ ... cause I've been investing all of it in ICOs and a few AltCoins.
If it goes lower, oh well, I just need to buy more.
If we do get another low do you think it will be due to bitcoin dropping again?
upvoted. Please reciprocate. thanks
No worries
Yall want that free crypto fundamental analysis? https://steemit.com/bitcoin/@investingtips/free-crypto-fundamental-analysis-videos
Very nice
nice
AS ALWAYS. Thank you for very logical analysis.
I have been aware of Elliot Wave, Long Wave, and Kondratiev Theory for some time now. I am not sure that this is always relevant to the crypto charts because of the nature of crypto. When commodity markets are regulated in a Keynesian System, then these different chart interpretation methods are relevant. In the 'wild west' of crypto, market capitalization can move based on a different set of psychological factors.
An easier way to state the above is that there is no rhyme or reason in the crypto markets due to the deregulatory nature of the cryptocurrency market. We are seeing world changing progress being made in real time across the blockchain platforms.
Taking the crash into perspective, one can observe that the DOW went down over $1T in one day which is worth more than 3x the entire crypto market cap at its recent bottom. There is a lot of money out there is also and some recent good news coming out from the SEC crypto summit and other positive progress in a few crypto projects such as po.et makes me optimistic for the future. One thing I would like to see is more vetting of new coins coming into the space to prevent market saturation and scam coins; but I am doubtful that can happen in an unregulated market such as crypto.