ETH/USD approaches channel border. Of course we all can say that ETH will go to the MOON and back, but looking at the volume You might ask Yourself - if nobody wants to sell who will buy? Comparing volume from December last year to volume from January and February combined, You can notice straight away that although we had 60% drop in price the volume was poor and less than average. Right now we see that buyers are trying to break channel for the 3rd time in 10 days period but with such a weak effort that we can only wish of going up.( at least today) What’s Your opinion.
interesting to see, that the volume dropped hard at the end of december... if fewer people want to sell, the price will go up in the long term, because the demand can't be accomodated
PipEze
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@siwe7, but how can we judge what is the fair price to pay for 1ETH?
siwe7
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@balocik as long as ETH is in the top 5 cryptocurrencies it will be desireable to some degree. hence, at least imho, the price will grow because of a shortage of supply due to less people willing to sell. that is the same as the number of "burned coins", those which aren't accessible anymore due to lost private keys for example.
i admit, currently it is quite hard to determine the price fairly... but Ethereum is an enterprise system, and it has already some usage, due to many ICOs (ERC20 tokens) and most important the DAPP crypto kitties (the game).
if new DAPPS are developed based on ethereum, which i find very likely, the usage and as part of that the demand and the volume will rise steadily.
the value of all cryptos is defined by their usage as payment method - and that is the main difference to classic currencies or stocks.