What's up everyone,
Ether has fallen below the key volume support level and price wise, there isn't that much supporting it. Basically, what I am saying is that there is no reason for me to believe it cannot reasonably go to zero. If it does turn around, it needs to do it quick because it's about to break a new low that it set over a YEAR ago. To put that into perspective, it would be like bitcoin breaching $2,000. Ether is in serious trouble - but my recommendation to buy at a weekly close green ashi remains valid. I will update everyone on that though as we move on.
Overall it's like this: either the crash is over in crypto - and that's possible, I recently saw an interview where Vitalik was like, "yeah, this thing has peaked." As a contrarian, that is an exciting claim because there could be a buying opportunity soon. That, or, it's still got a ways to go. If this crash is not over, I am expecting $70 ETH. Below that I am expecting around $0-7 ETH. Bitconnect still has a pretty damn high valuation, so Ether will too even if it dies, but more or less the price will be $0 relative to whenever you bought it.
.........
VAR:
I have made the assumption that Ether volatility is 6%. This is slightly more than bitcoin which seems reasonable enough to me. Here is the calculation:
low: $ 108.3813222746653
high: $ 235.61867772533472
We are 99% likely to trade in this range for the next 7 days.
-YoungShkreli
Ether has fallen below the key volume support level and price wise, there isn't that much supporting it. Basically, what I am saying is that there is no reason for me to believe it cannot reasonably go to zero. If it does turn around, it needs to do it quick because it's about to break a new low that it set over a YEAR ago. To put that into perspective, it would be like bitcoin breaching $2,000. Ether is in serious trouble - but my recommendation to buy at a weekly close green ashi remains valid. I will update everyone on that though as we move on.
Overall it's like this: either the crash is over in crypto - and that's possible, I recently saw an interview where Vitalik was like, "yeah, this thing has peaked." As a contrarian, that is an exciting claim because there could be a buying opportunity soon. That, or, it's still got a ways to go. If this crash is not over, I am expecting $70 ETH. Below that I am expecting around $0-7 ETH. Bitconnect still has a pretty damn high valuation, so Ether will too even if it dies, but more or less the price will be $0 relative to whenever you bought it.
.........
VAR:
I have made the assumption that Ether volatility is 6%. This is slightly more than bitcoin which seems reasonable enough to me. Here is the calculation:
low: $ 108.3813222746653
high: $ 235.61867772533472
We are 99% likely to trade in this range for the next 7 days.
-YoungShkreli