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comment by AnSionnachRua
AnSionnachRua  ·  459 days ago  ·  link  ·    ·  parent  ·  post: Why HTC will only accept Bitcoin and Ethereum for its First Blockchain Phone

Huh just checked and ETH became super cheap lately (I haven't really been following it). Does this mean it's a good time to buy, or is it crashing altogether?

kleinbl00  ·  459 days ago  ·  link  ·  

In technical analysis terms ETH appears to have found a floor around $200. Keep in mind that "technical analysis terms" means kind of the same thing as "palm reading" and is based on what the graph does, not on why it does it.

The fundamental force driving ETH pricing right now is the fact that the Ethereum Foundation is currently dickering about what to do about their difficulty bomb hard fork. The Foundation is agreed that forking is necessary to put off the difficulty bomb because proof-of-stake has been delayed.

My caution to you is that the fundamentals driving cryptocurrency are obscure and technical while the sentiment driving cryptocurrency is florid and subject to whim and manipulation. My other caution to you is that the price swings in forex are enough to give the average stock trader a heart attack, the price swings in bitcoin are enough to give the average forex trader a heart attack and the price swings in ETH are enough to give the average BTC trader a heart attack. Don't risk more than you're willing to lose, lose quickly, and lose in a dramatic fashion with all your friends and neighbors hectoring you for your stupidity so they can feel better about not participating in the first place.

You haven't lived until you've had a financial planner tell you he'll manage narcotics fortunes but he considers crypto unclean.

goobster  ·  459 days ago  ·  link  ·  

I bought ETH at $1200, which was exactly two days before it tanked.


... please?... :-)