Ethereum hit a fresh all time high today vs both Bitcoin and USD, trading as high as 0.0702 BTC ($141 .85 USD) for the first time ever.
Ethereum describes itself as "a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference." -https://www.ethereum.org/
The Ethereum currency is often called a crypto commodity rather than a crypto currency since it's used to run applications on the Ethereum network.
For investors, it functions the same as Bitcoin - you trade FIAT or BTC into ETH and speculate on price. And speculators have done well on Ethereum this week.
Technically, ETH completed a classic cup and handle formation on Friday, a very bullish indicator, and has since risen another 6%:
Where do you think it's going to stop?
I think ETH and BTC want to find a 1/10 relationship. Over the next three months. Thats what my meditations said. So.. THat would Aim us around 230$ ETH. Plants agree, but we dont know shit about trading markets!
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My charts agree would with you - exactly. I suspect we'll find support at 0.1 BTC (Fib extension @ 161.8% - blue zone) in the not too distant future (weeks, months).
Good news, when we agree! We have been right on our calls together so far!
I do not mind where it should stop - since the BTC halving I began investing in ETH along with other altcoins. It seems it proves me to be right in my decision then...
Wise move IMO @mahaji, I welcome the flippening (I'm about 90% ETH in crypto).
Please help me understand as I'm only on my second day of learning about Ethereum from someone's post on Steemit yesterday. I've been an investor and trader on the NYSE for only 3 years, so have a LOT to learn, but thoroughly enjoying learning new things. I'm looking to trade Ethereum on the NYSE. In googling info about the possibility, I came across this website. Is this real or fake info? Would appreciate your insight or updates.
https://cointelegraph.com/news/if-bitcoin-etf-gets-approved-ethereum-classic-etf-will-follow
Hi @Lisalouise thanks for stopping by.
That new article is the real deal; however, the best way to get into cryptocurrency is to invest directly!.
It will be a while until any ETF is a) approved and b) available for investors.
Check out my guide to buying Bitcoin and Ethereum in Canada - most of it applies to you in the USA. I recommend Coinbase as it offers a lot more to US customers: https://steemit.com/bitcoin/@songbird/buying-trading-storing-bitcoin-in-canada