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RE: Crypto Chart Update: Bitcoin off as USD comes back, Ether's shortcomings and Steem not so stunning.
Dedication to post on a weekend, that's what we like to see :)
Interesting as not many people think about the impact of fiat trading pairs when it comes to cryptocurrency but, thinking about it, they definitely should. Probably even more relevant these days with crypto becoming more mainstream every day.
I'm not keen on the USD/ETH chart though at the moment, although I may jump in there around 225 depending upon what it looks like.
XRP looking a good price at the moment too, but I think it could get dragged down further.
What's your view on the thought that the ETH price is being impacted by the plethora of ICOs at the moment? I haven't seen any evidence of this, but it's a view I've read on several occaions now.
Thanks Zebedee, at end of the day crypto's own strengths and weakness are the primary driver (ETHUSD is up 3000% + since Dec, EURUSD is only up 10%), but movements in quote currencies definitely have an effect ... very hard to quantify the magnitude though.
Re: ETH ICO's I think that was definitely a big driver behind the rally, likely the primary driver. Just like recent weakness is almost certainly a product of the high profile ICO fails.
I haven't checked out XRP, will have to take a look.