Panic buy now. Last time to buy ETH below 13$. Countdown to lift off. 2 bil market cap in next month. 0.2 BTC per ETH it's the real value.
ETH was not actually ever designed to be a store of value, they even say so in the whitepaper.
This is an obvious pump by some mega whales, and a lot of people are going to get burned.
It is such a classic bubble.
What is value of cryptocoins? IMO we're going to new definition. This and next years value of cryptocurrency will be amount of services hosted on it. Internet of things is the near future. Microsoft investing a lot of $ in ethereum and they knowing what they doing. ETH isnt't another litecoin, dogecon... It's new technology like web 2.0.
In terms of the technology I agree.
In terms of the price I don't believe it can stay at these levels sustainably. It is a classic bubble, it will pop, and I believe it will stabilize again around 0.01 BTC. Of course I could be wrong.
There are already threads on the ETH forums where people are saying it is now too expensive to develop the dapps they were planning on the ETH network due to the current price.
Yes, you could be right. But if you correctly predicted BTC price will be stabilized at $2xx in 2013, you would miss a big opportunity to double or triple your wealth. That said, you will have less chance to lose half of your wealth. So, who knows.
The only real question is if the bubble will go higher (like BTC in 2013) before it pops or not. Now that it's over 1 billion market cap in my opinion it is much harder to go from 1 Billion to 2 Billion than from the previous value increases we have seen over the last few weeks.
Calling Ethereum a bubble is like calling Apple a bubble.
What's
your definition of a bubble?
For a crypto, when it is being hyped in the media, and on the forums, and when it goes up 10x or more in a short period of time. And when most people cannot see it is a bubble
Not once has a crypto stabilized at the peak price.
Sure ETH will find a new floor (which I believe will be around 0.01 BTC), but I would be really surprised if it goes over 2 Billion market cap and beyond.
I don't understand how all of you guys don't get it that the Ethereum rise is mostly fueled by Bitcoin shooting itself in the foot by the block size debate and politics surrounding it. Yes, Homestead release and development of the Ethereum and its features is also responsible for the rise, but not as much as my previous conclusion.
If you look at the things from this perspective, there is no way that this is a bubble. OK, of course there is some speculation, there always is. But is this rise a complete bubble, I don't think it is. Now, if die hard bitcoiners, especially on this forum, are refusing to see the forest from the trees and admit that things in Bitcoin land are far from being rose, that's their problem. If these die hard bitcoiners are refusing to believe that many crypto enthusiasts are diversifying their investment out there, just in case, that's really only their problem!
Huge volumes are justifying my claims from above. There is a real interest in Ethereum. You just don't fake 100,000+ BTCs volumes, I mean c'mon.
