Much as I agree that holding coins for the long term is good, I always want to be very realistic.
There is a seeming expectation on the mind of many. That of prices of cryptos surpassing the 2017 highs. Now, here are some revealing stats: At this time, ETH has appreciated 184436.98% above the ICO price of $0.311. The price corresponding to this is $573.91.
To me, the expectation of the further increase in price is very slim. Note that compared to this price, ETH high at $1,200 at the peak of 2017 high.
As the adoption of cryptocurrency as a mainstream currency continues, it is apparent that prices will begin to stabilize. The swings of volatility will not be very wide again.
It is also said that miners make most profit when the price of ETH is between $500 - $800.
My advice; hold but do not be expectant that the value will soar as much as you would want.
good post.
i would like to add that the problem with a coin like ethereum is that its price depends completely on one factor and one factor alone: ICOs.
the only use case for it is to participate in ICOs, people buy it to do that. and we all know that the ICO craze can not go on forever, like anything else that will also die and with it the price of ETH will take a huge hit.
additionally there is the problem with the limitless and already huge supply of ETH which is the reason for the long term downward movement. it is inflationary!
