Bitcoin to ethereum rubber band effect

mrees999
By mrees999 on Fri, Jul 21, 2017 - 1:27am

With the two warring tribes in Bitcoin finally smoking the peace pipe - Bitcoin price shot back 25% overnight. The general pattern is that within a day or two, once the wind carrying bitcoin price calms, the rubber band that was stretched between the price of the big planet and its smaller twin 'ether' returns with a snap. As people take profits from bitcoin, they see-saw that profit into the next biggest coin. All this demand for ether then slingshots its price soon afterward.

The percentages are usually an exaggeration of Bitcoin's itself. With the usual FOMO and a previous expectation that $400 is not unreasonable - I suspect $400 to be a speed bump to the next top. Much of the financial world is just now reading about ICOs in the mainstream press and are just now getting their heads wrapped around these new concepts. They read that Ethereum is the ticket to ride that train,

One million new accounts requested in June alone for Coinbase which is what they expect in a year. That backlog of hungry new generation of first-time ether buyers primed to make their first purchases of relatively cheap ether (compared to last month when they signed up).  We could see some explosive growth clamoring in.  This leaves out all of the big news of September when I figured the market momentum would begin to return. 

This isn't financial advice and I'm occasionally wrong. But hopefully, this is helpful.

 

 

 

1 Comment

Tycer's picture
Tycer
Status: Platinum Member (Offline)
Joined: Apr 26 2009
Posts: 617
Thank you sir.

I really enjoy reading your opinions. Thanks again for sharing. 

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