So by now if you use Steemit, you are familiar with the meteoric rise of Ethereum. But the past week, the price of Ethereum hasn't moved, and stayed stable around $350-360.
Why is this a good thing? Well, when the price of Ethereum stays stable, a lot of the people who usually hold only during the full bull market will sell their Ethereum. With these people selling, people with more fortitude will buy in at this stable price. This has happened 4 times over the past couple of months, and should provide a good floor until the next breakout.
With the price staying stable, it should incentivize more investors to hold on to Ethereum for the long haul, and not just sell the Ethereum at the next spike, which should prevent the price from dropping too much after a huge bull run while people cash out on their profits. Just my 0.000037875800957942 ETH (2 cents as of this post).
I am a novice trader and this information is just based off my current knowledge of the markets and crypto.
This post received a 0.7% upvote from @randowhale thanks to @lyonsolntsev! For more information, click here!
Good point. I think, and hope, that you are right.
Me too! Big things in the future for Ethereum! Holding for the long haul!
It's just me.. but I think Ethereum is growing a little too fast, a little too quickly. Be careful.
It is growing very quickly, you're right. With all investments it's important to make sure you are able to cover your losses. For me, I sold Ethereum equal to my original investment, so my current holdings are 100% profit. It's a good tactic to make sure you don't lose money after a bull run like we've had.
Ethereum is on fire right now, with all the new press coming in and the possibilities of overtaking the first place. I think it only needs one more good push, but the possibilities of bigger investors taking their profits are also open.
It's always a possibility, but we can only hope these investors are also in for the long haul!
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Usually it goes sideways before it BOOMS! haha
Yup!
Nice blog. Interesting to see I'm not the only one that is thinking about this. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. An interesting website I found: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check for example: https://www.coincheckup.com/coins/Ethereum#analysis To watch Ethereum Research report