RE: BREAKING NEWS: Ether Flash Crashes To A Penny / Margins Wrecked On GDAX / Coinbase Investigating
Considering there are going to be more ICO's and also assuming that they will be irresponsible with their contribution period, ethereum will have major problems for the next 4-6 months. The network isnt capable to scaling itself just yet. We must not forget that this is basic technology when it comes to the functional requirements. It wasnt magically created to magically solve any problems it faces. This whole madness around people just saying it will shoot 400+ etc etc... is honestly worrying. Because it is based of no knowledge.
Remember, market can only go as far as the technology can handle it.
Now that I have gotten the ranting out of the way. A good sign of an ICO I saw was CIVIC. They issued tickets to people which would avoid congestion. That is a very responsible way of doing things and you can tell they really understand the network. I was thoroughly disappointed with STATUS. Someone who has received $380M had no idea what their bidding would do to the network? I think it shows a lack of planning and in depth awareness of the Ethereum Blockchain.
Hopefully ICO's will realize that for them to survive, they must work in a manner which will not harm the network and must take actions which will harness the network rather than damage it.
And when it comes to predicting the price, I am a novice. But from the trend and based on the situation with the scalability of this technology, I would say it will take about 1-2 months for it to cross $350. A very good thing is that a tech giant like microsoft is backing this. So coming up with good solutions should not be a worry.
Cheers