Also today from 16:00-16:20, awards are given out, its not very noticeable but MiChain has won, we're seeing top mobile companies like Huawei and Mi joining the space. This is definitely pushing ethereum a HUGE step forward where real life apps get deployed and adopted pretty much by default!
Although I absolutely hate predictions, especially ones with exact numbers with no basis whatsoever "I think ETH will hit $1000 by Xmas.", sure and whatever.
BUT, I am going to predict! Here comes
disclaimer I am basing this off of the ETH/CNY exchanges, it may vary slightly from other exchanges but still a good indicator of what's to come
So exchange volumes are fairly low today, consolidating at around ~2730 CNY($400 USD), we'll see if tonight has any significant movement. But if this stays flat, it is definitely not good news for ETH prices, as most holders now are winning, the longer this takes, more anxious these holders will want to cash out.
From TA perspective (forgive me I do not have access to tools right now to draw out technical lines), looking at the chart, there's a good support at 2700 CNY ($397 USD) and a bit further below a very strong support at 2550 CNY ($375 USD). Essentially testing at 2700 is a possibility, I do not believe we'll go down to 2550, even if we do, it'll be a very difficult support to break below. This is assuming that no good news come from this conference, purely from technical analysis point of view. Any significant good news should come at the conference (eg. EEAChina filled w top companies from China), ETH price should hit yet another ATH.
From recent trades, I suspect new whales have come in to replace old whales, meaning holders have changed. What this means is that the new holders will expect newer highs to cash out, so I think the trend is still going upward in this regard.
Current prices also have been affected heavily from ICOs, new whales can very well come from these new ICO crowdfunding, so for now we shouldn't worry about a market crash from huge dumps of ETH.
For some reason it is next to impossible to find any information about this summit, the event has overwhelming number of attendees (over 1700 attending), I am going to attach any information I can find here. Will keep updates coming as more news surface
Notable attendees include,
Tencent
HuaWei
Deloitte
IBM China
JP Morgan
Wanxiang Group
I've read that ChengDu government is sponsoring the event, I couldn't confirm this but the event is tweeted (weibo) from the official ChengDu government account.
The tweet says that the summit is to take place in Chendu and that SouthWest EEA is officially formed.
Mr. Wu - CEO of bitmain (Antpool - with 15%+ of total hash power in BTC mining), criticizing core and threaten to pull all its hashing power to bitcoin unlimited.
Also today from 16:00-16:20, awards are given out, its not very noticeable but MiChain has won, we're seeing top mobile companies like Huawei and Mi joining the space. This is definitely pushing ethereum a HUGE step forward where real life apps get deployed and adopted pretty much by default!
People checking in
Although I absolutely hate predictions, especially ones with exact numbers with no basis whatsoever "I think ETH will hit $1000 by Xmas.", sure and whatever.
BUT, I am going to predict! Here comes
disclaimer I am basing this off of the ETH/CNY exchanges, it may vary slightly from other exchanges but still a good indicator of what's to come
So exchange volumes are fairly low today, consolidating at around ~2730 CNY($400 USD), we'll see if tonight has any significant movement. But if this stays flat, it is definitely not good news for ETH prices, as most holders now are winning, the longer this takes, more anxious these holders will want to cash out.
From TA perspective (forgive me I do not have access to tools right now to draw out technical lines), looking at the chart, there's a good support at 2700 CNY ($397 USD) and a bit further below a very strong support at 2550 CNY ($375 USD). Essentially testing at 2700 is a possibility, I do not believe we'll go down to 2550, even if we do, it'll be a very difficult support to break below. This is assuming that no good news come from this conference, purely from technical analysis point of view. Any significant good news should come at the conference (eg. EEAChina filled w top companies from China), ETH price should hit yet another ATH.
From recent trades, I suspect new whales have come in to replace old whales, meaning holders have changed. What this means is that the new holders will expect newer highs to cash out, so I think the trend is still going upward in this regard.
Current prices also have been affected heavily from ICOs, new whales can very well come from these new ICO crowdfunding, so for now we shouldn't worry about a market crash from huge dumps of ETH.
For some reason it is next to impossible to find any information about this summit, the event has overwhelming number of attendees (over 1700 attending), I am going to attach any information I can find here. Will keep updates coming as more news surface
Notable attendees include,
Tencent
HuaWei
Deloitte
IBM China
JP Morgan
Wanxiang Group
Folks at NEM booth
You can get a better idea which companies might be in EEAChina from this
I've read that ChengDu government is sponsoring the event, I couldn't confirm this but the event is tweeted (weibo) from the official ChengDu government account.
The tweet says that the summit is to take place in Chendu and that SouthWest EEA is officially formed.
Mr. Wu - CEO of bitmain (Antpool - with 15%+ of total hash power in BTC mining), criticizing core and threaten to pull all its hashing power to bitcoin unlimited.
This URL is supposed to stream the event, the links don't work yet, worth checking back though since this is the only place I can find
http://www.itdks.com/dakashuo/playback/947
More event photos, Bixin booth