Poloniex: ETH/BTC On a Steep Drop
Not really falling like a brick and there should be a couple of peaks on its way down, but if you have any Etherium, now is the moment to rethink your investment.
You can click for a bigger image!
Check out some of my previous posts:
- DEK Photography: A Girl in the Mist
- DEK Macro Photography: Before And During the Rain
- DEK Photography: The Sea Observer
- DEK Photography: On the Run
- A Couple of Words on the Fair Sale of EOS (Including a discussion with Dan)
- DEK Macro Photography: The Sweater Bug
- B&W PHOTO CONTEST: An Intimate Portrait of a Person Browsing Steemit
- STphotochallenge - Sunrise and Sunset - Fire Sunset
- Off Roading on a Flower
- S7 Photography: The Bay Panorama
- The Entrance to the Swarm
- DEK Macro Photography: The Sensual Snail
Man investing/trading cryptocurrencies is just like riding a huge roller-coaster... it's fun, but can be brutal
It's actually quite silly, because all cryptos go up and down together, especially when someone is laundering money - be it a corrupt government, corporation or ransomware like WannaCrypt, the latter being the reason why everything spiked in mid May.
The differences in change between cryptocurrencies are too small and too slow for a trader, who is used to Forex. I'm viewing all cryptos like gold - a refuge in time of volatility for fiat currencies.
I do that with Bitcoin too , but I trade other cryptos just for the fun of it and to make some bucks on the side with disposable income I have... It isn't a lot, but it's better than spending it on drugs I guess
Considering the rush many traders get from watching ticks go up and down, it's just like drugs, but with a possible financial gain ;)
That's a way to look at it :)
It's the only addiction where you can actually make money. :D
I suppose someone can be addicted to creating state of the art money printing machines :D
Great observation on the wannacrypt. Hadn't thought of attributing the recent spike to t.
I've written an article about it, but it didn't gain much momentum, although there was some discussion.
Take a look at WCrypt's distribution - it spiked mid May and now the number of infected computers is slightly going down. What else is going down? Cryptos.
In fact, if there's one crypto I'd trade against, it's Steem. It's perfect - no cap on printing, almost no one is interested in it, because there are few services and people using it and historically it's been really hard to move from rock bottom, regardless of what developers tried.
Etherium might spike a bit, just before the EOS sale, but because of the latter's long distribution period of 341 days (I've written about it just recently), EOS won't have much of an impact on Etherium's price.
To sum up, my expectation is that all cryptos will go downhill from here, with Steem being one of the best contenders - unless there's new ransomware on its way.