With all that happened with ether last week, any crypto newcomer would pay no heed to it. Little do they know what ether was worth 6 months ago. I believe it's still undervalued but I won't go as far as speculating that it will be worth 1000$ by end of summer. I leave the speculations to the gurus. I'm looking forward to the day that will say that bitcoin and altcoins are a bubble and they will look for other ways to make money online. But I do agree, whales have their say in the market making it volatile. A reason a lot people would turn a blind eye to the crypto world.
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Actually, what happened to ETH last week "should have been" the wakeup call to anyone holding either of the two that the hedge funds are going to play with, BTC and ETH. The lesson is >>> Do not set a stop loss order if you keep your holdings with any of the exchanges because if you do it will "likely" be hit. And worse yet, since there are 250 sell orders going thru a window that can only handle 25 orders at any given time, don't be "shocked!" if you lost 80% of your funds when it "finally" is executed. The rebound back up thru $350 took care of the losses of anyone who didn't have a stop set. They got a chance to "rethink"...and the thought has now cost them $80 or so as ETH is well below $300 right now I believe. I only track bitcoin because everything will do what bitcoin does. And bitcoin will do what U.S. exchange traded bitcoin tracker GBTC does. Always look to things that trade on the exchanges (even if it is OTC) for warning signs of what is ahead. And as my spews about it have outlined/warned, there are no "surprises" in the world of "reality."