After a series of uncanny predictions on Litecoin and Ripple, I wanted to share my latest trade—I have gone big on Ethereum.
I rode the Ethereum wave from the start of this year, when it seemed almost invincible, and sold near the top. It was a sobering experience seeing this irresistible force meet the immovable object that is Bitcoin, and watch the value of Ethereum in satoshis steadily fall for now going on six months. It was a lesson for me to never underestimate Bitcoin, and to always hold a significant portion of my portfolio in it, no matter what.
It's no secret that I am quite critical of Ethereum as a project, and have little faith that they will be able to practically scale. At the same time, this doesn't seem to be stopping Bitcoin, whose scaling problems are just as bad, and which has no problem making higher and higher highs.
It looks like we are at, or near the euphoria stage in this bull market, and with parabolic moves being made all over the cryptocurrency ecosystem, I can't see how we won't see the same for a project like Ethereum, which, for all it's flaws, and for all the competition for it's top spot from other very promising projects, is still the backbone of a large part of this space simply as being the platform for ERC20 tokens.
How high can it go? If I'm honest I could see it flipping Bitcoin this time. It nearly happened in June, and, if anything, Ethereum is in a stronger position now, with so many more ERC20 tokens having been released and being traded every day.
A look a Blocktivity.info shows that Ethereum should currently be 12x the value of Bitcoin, given the relative number of transactions they process. I think, on a spike, it could flip Bitcoin, although probably only briefly.
I'm looking forward to seeing how this prediction turns out. I think the downside is very limited at this point, and some diversification is never bad. This is, of course, not financial advice, I just want to share what I'm doing.
Remind me in 1 month!
Yes, Ethereum is always a good buy.. With so many ICOs coming to Ethereum blockchain, even if it doesn't do well, we can always utilise it to invest in ICOs
Agreed! Whatever the future holds for Ethereum, the fact is it's still top dog right now, and supports tens of billions of dollars in ERC20 tokens, which is a significant percentage of the total cryptocurrency market cap. I have no doubt we will see an enormous spike up, and I'm glad to be diversified. Exciting times ahead!
Just woke up to see Ethereum at its ATH. It is looking good to touch $1000 mark soon... Good prediction mate..
This is just the beginning, I'm looking for a near vertical spike to the $2500 - 3000 range before I cash out.
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