BREAKING ANALYSIS: Well needed correction for Ethereum (ETH) and ICO opinion
The price of ETH is falling today and hitting $310 as I write - whilst this is painful to see from it's $418 highs, this is a well needed correction and a possible buying opportunity.
Ethereum is a game change and will transform our lives over the next few years, but the price has risen too high due to speculation and people not understanding the network - the price is actually not even anything to do with the Ethereum Blockchain technology - ETH is a unit of currency traded on the technology, just like you can trade STEEM
Yesterday there was another crazy ICO raising millions in a few hours - whilst this may seem great on the surface, it is not great for the short term trading - people are selling ETH to buy these new coins
But remember, ETH is the "gas" used by all these Ethereum based ICO's to trade and transact - this means that ETH will be the long term winner :-)
I agree and think holding ETH is a lot more beneficial for investors than selling off for ICOs. With that being said, I do believe diversifying into other cryptos is an important step that should be taken.
Totally agreed - I am in a few other altcoins (and bitcoin) but keeping ETH at around 60% of my total
Good info
Thanks - ETH is on knife edge at the moment ..... long term all good