+trucudus. Many thanks for your reply. Do you have a price projection, based on fundamentals you would like to share?
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+trucudus. Many thanks for your reply. Do you have a price projection, based on fundamentals you would like to share?
Sure. As Ethereum nears the forks, you will see some pretty nice pops (Even today it rose almost %10 in the ETH/BTC Market due to the fork looming in the immediate future. This happens because people know that any Ethereum they are holding will give them an equal amount of the new currency as well as allowing them to hold their ETH... So, if the new currency becomes worth %11 of ETH, then the traders just made %1, see? So it's a very good investment strategy. Of course, after the fork, the currency will naturally be over bought and the price will drop back to it's natural supports. This will happen again near the end of the year. That's what makes now a good time for short term investors. But at this point we are talking about %10 to a maximum of say %40 by the end of the year, which would put Ethereum around $450, $500.
But if you really want my2btcents... I'd say it will approach $1000 by the end of the year. This is due to the forks, along with the general hype of cryptocurrencies right now, followed by the usual end of the year pops as people spend their Christmas money and end of year bonuses as well as trying to finagle taxes for EOY purposes.
All of that points towards a $1000 EOY price for Ethereum : ). If you aren't in it for the long haul, that would be a great time to sell. Of course, I believe that Ehtereum could definitely win the scalability race. If it completes in the near future... It could very well over take Bitcoin : ).
Again, just my2btcents. Take it with a grain of salt.
+trucidus some interesting insights there. I can see ETH being $1000 by EOY. I just fail to see it toppling Bitcoin. Buterin is both a BTC fanboy and understands game theory ; he knows that Bitcoin is king and Ethereum is queen. If another currency were to rise above Bitcoin, that would set a precedent for the king to be overthrown and thus create instability in the crypto realm. Rest assured that Buterin is not in competition with Bitcoin but working in harmony for the greater good, like a good royal marriage.
Actually I wrote an article about a huge conglomeration of cryptocurrencies... Well, that was a tangential point anyways. There are two technologies listed in that article that would greatly help this idea. And besides, if we had a bunch of cryptocurrencies working together, it would also solve the scalability problem quite nicely : ).
Here is a link to that article if anyone would like to read it.
https://steemit.com/cryptocurrency/@trucidus/smartbridge-vs-atomic-swaps
Good info - I shall digest