I think there is some truth in your words. Even if we get some relief from this massive bear market, I believe we will see more of the same trading patterns and opportunities to play both sides of the market until ETH reaches its final low. There are many miners complaining about the cut in commisions and even threatened a strike. Some miners have a lot of money invested in hardware and stand to lose when we switch to PoS. Then there is the issue of all the ICO's that are running on Ethereum smart contracts crowding the blockchain. As the transactions become greater the Hash rate becomes more difficult and so this complex problem becomes more complex. Oh, we may see a move north soon, but nothing the likes some are suggesting. $300 is going to be a hurdle and $500 will not bee seen this year (IMHO). Probability suggests sub-200's before $500 is reached. A lot of pain has been caused by this Bear-market and many have fled the crypto game altogether. I believe that Etherum will fall off the radar in a few years, but the platform it's built on will survive and its value has not even been fully recognized yet. Once hardware manufacturers can produce the equipment to perform the decryption at a faster rate we will have a new financial system built on top of the Ethereum blockchain. I foresee it as the internet within the internet; gaming, financial services, and let your imagination fill in anything else. Just because we were at $1,400 once does not mean we will be there again. I am sure this will draw out the haters, but so it goes with any comment. It can happen, no doubt, but will it? Read some of my early posts on this subject and I explain why I think we stabilize down here at these levels. Not to mentions having a stable virtual currency is not a bad thing. It gives credibility to the market and easier for people to see it as a real store of value. The volatility creates fear because it cuts both ways. I have read people's comments where they are still holding at 1k! Now that is PAIN! Another person is looking for charts that provide hope of reaching 400+ soon because that's where he is stuck. Right now, swing trade this crypto and keep cash available to participate in the next big thing that will kick off others uses for the Etherum blockchain.
Good luck all. I have no position but have been considering a short position above $240. "Keep it simple"
jordanmorin13
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I would say irrational panic selling/ irrational pessimism of course eth has found its bottom
jordanmorin13
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@jordanmorin13, however if it has not found its bottom it should have a bounce to atleast 400-500 dollars first
wolfofpoloniex2
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@jordanmorin13, watch mike novogratz last interview with cnbc. he is hiding something. sinister laugh. laughs really weird like hes gonna enjoy picking up ur 4k btc to sell at 50k. Etf decision moved from feb 2019 to dec 2018. something changed. its gonna get passed and we see 50k. change of behavior
Good luck all. I have no position but have been considering a short position above $240. "Keep it simple"