Ethereum Price Still Recovering? Will It Pass Its All Time High
Ever since Ethereum's all-time high of about US$400, it has seen a steady decline in value. At the time of writing, ETH's price is around US$183 per token. It is currently the weekend, and the price is probable a little deflated due o that. For Ethereum's investors and holders alike, however, this feels like the price correction that will not stop. Let's take a look at a few of the reasons why Ethereum may be performing the way it has been.
PRICE CORRECTION AND ICOS
Ethereum had an incredibly impressive run earlier this year. It exploded from just over ten dollars to its all time high of US$400. There was a time when it was even a contender for Bitcoin's crown as top dog in the cryptocurrency world. However, those days seem to be long gone. Ethereum continues to suffer from a price correction, which undoubtedly has left the wallets of investors who boutht high reeling.
One of the reasons that Ethereum needed this price correction is the number of ICOs which were running on the Ethereum platform. By investing all this Ethereum in various projects, it locked those funds out of the overall market. This created an artificial scarcity which made demand soar along with the price. That bull run was unsustainable, however, and some of Ethereum’s problemsbecame more obvious to investors. Many sold, and some were left disappointed by shell-ICOs and vaporware.
However, those who held Ethereum before the bull run should not be too upset with the current price. Things move quickly in crypto, but one has to remember that ETH was worth $10 in January of this year. Some holders have seen the worth of their ETH rise twentyfold.
SO WHAT’S NEXT FOR ETHEREUM?
Ethereum does have some cool things happening in its space right now. Obviously, smart contracts are popular and there are additional plans to incorporate them. There is also talk about a shift to Proof of Stake in the future.
Ethereum may stay dormant for a while, since its price correction — though still ongoing — has recently calmed down. However, I would not be the least bit surprised if in a few months we see another bull market for Ethereum. I do doubt, though, that any run would be as impressive as the one we recently saw.
This is not investment or trading advice. Always do your own independent research.
Very good..
Ethereum price will blast.
Nice info
Good info bro
I WILL WAIT
Nice info
hi did you mean to upload a video with those reasons? If so i can't see it. all i see is a pic. not sure if that is your intention.
Btw i also believe ETH will more than recover. It will just take some time. Consider following me in case you are interested in daily crypto news of handy facts everyone should be aware of. In any case good luck!
sorry for inconvenience please check now full post.. thanks.
yep seeing it now. thanks. Agree maybe not as impressive a bull run as before, but there are still ICO's and there are still participant jsut joining the crypto space ;) The only real issue i see for ETH is the inflation rate due to mining.
yes still so much hopes...
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Personally I do believe in the technology of Ethereum for the long run. We must remeber that Crypto is an extremely volatile space, and the valuations on these coins or tokens are difficult to determine. There are no quarterly earnings reports to look at and future growth potential is difficult to predict as the space is basically brand new. Ethereum has had a tremendous run, and it was so damn exciting..! Watching it go from $15 to $415 in less than 3 months was truly amazing, especially for those who had the foresight to invest early, when the price was low. As I see it, it is STILL EARLY!!! And even at around $180 it has gone up 10X since March/April of this year. There is a lot of FUD in the atmosphere at the moment, as nobody know what will become of Bitcoin in the next few days or months. That is causing much anxiety with investors. Also the ICOs that have been created and run on the Ethereum platform, well.... some have been a bit sketchy, and scalability has been a real concern. The "Flash Crash" about a month ago was terrifying to investors and anyone who had even a tiny margin position, or loan against their Eth position was called out at horribly low prices to cover the debt owed during that crash. Fortunately I have heard these investors will be or already have recovered their Eth tokens, as Coinbase/GDAX did what it knew was the right move and squared up with these customers. So going forward, let's remember the amazing potential Ethereum still has and try to see the forest through the trees, remeber where it was (in the teens) and where it is now, and make our investment decisions based on how we feel about the platform going forward. Personally I was fortunate and did ride it up - did I sell the "top?" - NO, but I did get out temporarily in the mid 300s. I have since bought back in in the 175 range, about where it sits now. I have a position sized to where I am comfortable and can sleep at night, and am not watching the price movemets and panicking on a day-to-day basis. I am holding my tokens on my Ledger Nano, and I am continuing to dollar cost average into my position by buying about $50 to $100 of ETH each week. As I said I do believe in the technology and the Enterprise Ethereum Alliance, and I plan to stay in and continue building my position as time goes buy. If things go like I think they will, this will prove to be a smart move, but there is always a chance things won't go as planned and continuing to build a position will not have been a good move. Time will tell, but I do think Ethereum now is like Microsoft was in the early 1990s, and 3-5-10 years from now the price will be much higher. But in the short term, nobody knows... So do your own due diligence, only invest what you are comfortable investing, and take the long view, like Warren Buffet would do. I told my family if I die, throw my ledger nano in my casket with me, I am taking it with me lol. nobody is taking my Ethereum!!!! Anyway that is my 2 cents worth on the subject. Thanks, I will upvote you and resteem this and see if we can get any other opinions on the subject. Take care and good luck all. Peace. Cryptoted
yes, from your view you are also right
i will be happy to see it rising and breaking all time high