ETH price could go to $170/0.07 BTC
After major spikes in price value, the price tends to correct down to the 61.8% Fibonacci level. We can also see that around that point there's an intersection between the all-time trendline and the recent downward trendline for ETH price. Therefore, the $170 may be the price ETH is actually worth at this point in time.
Ethereum grew around 20x within half a year, so a larger correction is bound to happen sooner or later. Right now there is some uncertainty due to the inability of the network to scale when ICOs happen, which could remain an issue over the next few months. This could make some investors lose trust in ETH and they may switch to other more promising cryptocurrencies in the medium term.
If you're a long-time investor in Ethereum, this doesn't mean you should be selling, but it could be a good and safer price at which to buy more ETH.
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Hello ,
i believe in ether , i think it the futur currency , ether will be back more stronger
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I believe Ethereum has value and it brings unique advantages to the table.
With that said, Ether as a store of value or as a transactional platform has had limited success/use. Take for example the thousands of merchants/websites that accept bitcoin as a form of payment. Where are takers for ether?
In its short lifespan, the major use case for ether has only been demonstrated in the recent surge of ICO's.
While the underlying technology is sound (smarter minds in the EEA surely believe so) and the value of Ether should increase over time, it continues to fail in presenting a true competitor to bitcoin as a "currency".