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RE: BitCoin And Ethereum Take A Major Dip!
I am more concerned about the long-term damage to Ethereum. All the recent ICOs may decide to collectively dump their ethereum on the market on any uptick. There surely is a bunch of ETH that would need to be cleared if that happens. It could turn into a real mess with ICOs dumping and future ICOs being shelved in a bear market which further skews the supply/demand equilibrium. It could take a while to sort out.
Not to trying to be overly negative, just realistic. Many other people would surely like to buy some more ETH at real firesale prices. I don't really know what my target price is at this point. Maybe sub $100 if it happens. Sorry if it sounds obnoxious.
I'm looking to buy at $150, though $80 could be a possibility too in the short-term if the downward trend continues, but more realistically speaking I believe it might go to around $169 before starting an upward trend. Right now, the furtherest it went down was to about $188. Interesting times! But then again, volatility is something that's been seen and known with cryptos! And I absolutely agree about what you said on the ICOs -- for them I believe they need to do things the "Apple APP Store" kinda way -- i.e. they need to strictly regulate the companies that are willing to do an ICO based on the legitimacy of the company, their idea, etc.