Today, after talking myself out of taking action yesterday, I sold 42 ethereum tokens (100% of my ether portfolio), and bought a larger position in peerplays.
My opinion on why ETH is crashing has something to do with the EOS ico. All sales of this ico are done in ETH which would attribute to the massive sale orders.
This is a brilliant move by Dan Larimer. EOS will be in direct competion with ETH in a year and he is helping destabilize the ETH blockchain.
I might be right....I might be wrong. If ETH continues to crash through the EOS ICO then bounces around like a wounded duck afterwards for a couple of weeks then finds its footing I'll assume my guess was right.
I guess everyone may be spending their ether on EOS. Everything is crashing at the moment
yes, a lot of money has moved out of the space. down around 20 billion
What has caused this major downfall and why does steem dollar benefit from this and my fall with the rest?
Volatility is to be expected. Part of it, not all, is due to big money moving in and out pulling profits. this move on ethereum seems to to have more to it
well a few facts we know about eth in my opinion
Dont get my wrong, I love ETH but we have to be realistic, we do not exactly know, where we will be the next years. Maybe ETH crashing due to EOS yes, I hope so though. I want ETH to rise and hope that it will do good things for humanity in future.
EOS will be fighting ETH. This will be a big battle for both of the coins.
I think that EOS will win and ETH will drop in value even more.
I agree
Nice! EOS will become huge...
Do Ico's help or hurt Ethereum? This is the question I have been pondering lately. Now in perfect world I would say it is beneficial for the network for ICO's to accept and use ethereum to fund their projects but the fact that so many ICO's are over saturating the market and causing all these sell orders I cannot possibly think this is beneficial. And what happens when one of these ICO's does not follow through with their promises and runs off into the sunset? BLOODSHED! But I am holding long. And hope we weather the storm!
Cheers!
I am in for the long haul. not pulling profits, just reinvesting. I want the best to rise to the top and am agnostic in preference.
@budp: Thank you so much for sharing an insight view, found it really helpful.
That's exactly what I was thinking this morning, EOS was sucking out all the money from the other cryptocurrencies...with 200,000,000 tokens being issued this week at ~$3-$4 that would require up to $800 million, most of which won't come from outside the crypto community which means people need to sell coins. But when I added up the cumulative market loss of the other currencies it was well over 10x this size, so it appears something else is going on as well. Cheers
great minds think alike....cheers
Not just EOS. It's all these ICO, especially the scammy ones.
Agreed
no bro, i think eos saved ethereums ass, otherewise would gone below 150
please view my post
upvoted please follow me and upvote my post if you like it
https://steemit.com/money/@vegeto/why-uber-is-a-scam
looks like a post on Uber
yes
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