Recently Digix announced that it was partnering with Maker in order to provide stable coins that are backed by physical gold to users.
Could this be a replacement for Tether? Digix has a long history of providing heavy transparency and is one of the longest standing ERC20 tokens on the Ethereum network. This alongside their 2.0 release coming real soon could...
To be honest, this looks like a serious hail-mary. But if we see a repeat oh what happened last year, we may just see it.
PLEASE BE WARNED...This would put the total market cap of 1.7T (over 7x the current bitcoin market cap)
Looking at the last trend where Ethereum took off, we area approaching a possible liftoff point to take ETH to new levels next year.
Could this be a replay of the previous year? Could we achieve a true flippening?
My Estimates show that BTC might fall to as much as half their value while Eth soars to near 3k in the middle of next year.
Ethereum seems to be holding inside a pitchfork quite well.
Assuming that this trend continues, we should see ETH/USD between 514 and 713. With possible extremes being as high as 883 and as low as 437.
Note: The above listed values will only remain true while the pattern continues. All patterns will not continue indefinitely, but can last quite a while.
Looking at the 1d chart for ETH/USD, it looks as though most of the candles have been in the inside channel of the pitchfork with only small outliers here and there.
If the current trend continues, it would be expected that ETH could not reach $500 before 6/20. If ETH does, expect a dip under $500 until after that date.
If you look at the past, when the RSI passes the 70 point and sits for a few days each time there is a correction of 30-38%. Here are some points to keep a look out for.
* If you want an entry point, $1320 USD seems like a good place to start being just under 30% of a correction.
* With Rootstock coming out and Consensus next Monday (5/22), unless the dip...
Looking like we will see we will see a mild correction from ETH/USD that will cause some minor consolidation down to $75 before we continue towards the new goal of $150 following the previous Elliott wave.
Dates to look out for:
* ETH back in the low $90s tomorrow 5/12
* ETH Double bottoms at $75 around Tuesday 5/16
* The market shifts and the trend continues...