From 20.000$ down to values below 10.000$ and it seems like it´s just going further downhill to even lower values. It definitely hurts to see crypto lose as much and it´s not surprising to see more and more people questioning it´s future.
I´m honest with you and admit that I´ve thought about selling my coins as well during the current drop but in the end I strongly believe into a bright future for cryptocurrency so that I didn´t sell a single token. It especially helped me to stay strong by taking a look at the bigger picture instead of just the last 3 months:
Drawing a line from the beginning to the end definitely shows that the market value of cryptos is overall still in an uptrend. That being said, don´t believe all the FUD that´s currently spread by all the mainstream media and on social media platforms. Cryptocurrency will not just survive but succeed and rise to higher values than ever before!
Bitoin is dead, long live Bitcoin!
That´s the last thing I´m gonna say on that!
A Crypto Startup Revolutionizing Steem! |
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Don't worry about the future of crypto currencies. All financial instruments behave like a "wave"... They all have ups and downs...
The new rising wave is approching!
My Question is ETN its good coin to long term investment ?
I am an ETN investor and I do believe that it will be a good investment in the long term. Richard Ells and the team are clearly trying to get partnerships to allow real world utility of the coin.
As for the price of ETN and what is affecting it I will copy my post I made on an Electroneum Facebook group here:
There are a few factors that come in to play that affect the price of Electroneum (ETN). We have seen recently that the price has not increased even with the news of the new exchange Kucoin. I will list the elements that go into determining the price of ETN below.
ETN is pegged to three different cryptocurrencies. These are Bitcoin, USD Tether, and Ethereum. The most valued pairing is ETN to BTC so the price of bitcoin falling will cause the price of ETN to fall. If the value of BTC were to rise then the price of ETN would rise also. The same applies for ETH and USDT.
If there is a general bear market for all of cryptocurrency like there is now then the price will be affected by this.
ETN is an extremely volatile asset in the fact that news can send the price up or down. Because ETN is symbiotic with BTC the amount of satoshis that buy a single ETN determines the price. Bitcoin (BTC) is itself a very volatile asset. It can have huge swings up or down.
So ETN is a volatile asset that is pegged to another volatile asset. This is why it is very hard to predict a price as you need to try and factor in how the news of ETN will affect the amount of satoshis, you also need to be aware of anything that is affecting Bitcoin, and you need to be aware of the market trend and where it is heading. This is not easy.
If there are large sell walls on the exchanges that are greater than buy orders it will suppress the price of ETN in satoshis which will mean a decrease in price in a fiat currency. The only thing that can be done about this is to wait until the selling is done and the buy orders begin to out weight the sell orders.
Ease of access to large quantities of ETN will also play a role in the price of ETN. While the mobile miner is great, it wont allow you to get a large amount quickly. If ETN is listed on fiat exchanges where you can buy cryptocurrencies with fiat it will massively increase the ease of access so more people can get involved. For those in Australia like me CoinSpot is now allowing purchases of ETN with Australian Dollars. Withdrawals will be available towards the end of the month.
News must be released to raise the satoshi value of ETN higher. If we want positive price action to occur the rate of satoshi value increase has to rise faster than the decrease of Bitcoin price.
The more utility ETN has the more value it will have. Utility is being able to use it to make everyday purchases. The Electroneum team are working on getting deals so this will increase over time, but don't expect short term miracles. Utility is something that gets built over time. The higher the utility the higher the price should go.
In investing nothing is ever really certain. While I have compiled these fundamentals I cannot predict how they will all react together in the hectic and fun world of crypto. This is for educational purposes and not advice. Always do your own research as well.
While it appears that we are in a bear market at the moment, we all need to remember that all markets have historically recovered so I see no reason as to why the cryptocurrency wont recover.
No way crypto is dead. I wrote an anti-fud piece this morning that shows the headlines from the last day or so that are not on the mainstream sites. Amazing how they do not tell a story of FUD.
Coinbase, Circle, and Playboy all made announcements pertaining to the crypto world that is going to position them better in the future. Sure everyone wants to tout the Google ban (now joining Facebook) but that doesnt matter.
Price action is a terrible indicator of what is going on out there.
While I certainly do believe that blockchain will prevail, I’m starting to question about the coins.
Businesses are according to me more interested in private blockchains to exchange data or assets. A complete private blockchain where all companies have an interest in the shared data, does not really need a coin. All the companies attached will have a beneficial interest that the blockchain keeps running. There profit lies within the shared data, so they don’t need to involve coins.
Or am I wrong?
This is certainly something that many businesses are considering. Some banks for example are looking into this technology to make the intermediation process of the bank faster and keeps a permanent, unchangeable history.
Though a competing technology called HashGraph could be better suited as it allows hundreds of thousands of transactions per second.
A few months ago I read an article about the tuna industry taking up the blockchain to record all logistics of the product so consumers can see exactly where the fish came from. I believe the integration is starting to happen.
I beg of your help once to drop into my block @khabirulhafiz
Nice job.. Kudos
its so alarming how people react to the change in price
Nice art * ^ *
HODL! To be honest, i haven't even contemplated selling one bit of my holdings.
Its getting scarier day by day. Conquering new lows every day. I too believe in cryptos and not selling of but still scared a bit.
Yes i support that. Its gonna rise again and this is the best time to buy it to make money when it rise