GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Thursday, May 25, 2017

Will Ethereum Hit $1000? In Black & White

Ethereum is already witnessing the Ice Age. The point where the increasing supply drops significantly due to amount of transactions on the network. So ethereum is going to actually go up in value contrast to how it has been performing supply wise. Also, while I do agree hype has something to do with it, I do not see a huge "correction" incoming. There has been enormous dips in price recently. For example, it went from 10 to 20, to 15, all the way up to 53, down to 32, up to 80, down to low 60s, up to 140, down to 120, up to 180, down to 132, and now it's at 190. Also, if you take Metcalfe's law into consideration, Ethereum should actually be worth twice as much right now. Ethereum has been steadily growing in price relative to total transactions and usage, but now the usage and transactions have spike tremendously, and they far outweigh the price relative to it. Will we see a correction? If you are thinking a 50% correction, I highly doubt that we will stay there. The corrections we have seen have been flash dumps which has gotten swallowed up and back to median in hours. For a true "correction" to happen, we would have to see zero development in ethereum and for ethereum to simply stagnate, like bitcion. Yet even bitcoin has been going up regardless of no development pushing it forward in utility. What we are witnessing with ethereum is yes hype, but also traction. ICO's are coming out nearly every week, EEA is announcing members bi-monthly, huge businesses are looking into ETH. Raiden is well on it's way. Big meetings are being held about ETH. Metropolis is due by September. Devcon 3 is in October. Dapps will be coming online within the next 6 months. This is not a bubble, because it isn't filled with hot air. It may be a bubble for cryptocurrency as a whole, but not for ETH.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...