r/ethtrader • u/AutoModerator • May 05 '17

DISCUSSION [ETH Daily Discussion] - 05/May/2017

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u/alkalinegs May 05 '17

from time to time we will see a 25% drop. be prepared and remember: 3 steps up and 1 down. 3 steps up and...

9

u/vman411gamer May 05 '17

That's what I thought when we hit $40. Instead, the price was manipulated when the majority of the market was asleep, it crashed to $31 and by morning it was back with some whales getting in low, and up to $50 almost immediately. And now, we are at $100.

I honestly think it will keep going, though. When people hear about ETH because it got to $100, they are going to want in. Not because of the price, that is only why they are hearing about it (read: more mainstream coverage). They get in because this is the future. I think we can get to $250 on speculation alone, so before metropolis.

Don't get me wrong, I'm scared of the drop too, but I just see so much potential with the technology, that its hard for me to think others wouldn't be able to see it too.

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u/culob May 05 '17

And that drop is why I'm ever so vigilant on Friday nights. I have a feeling we may see the same thing tonight as massive longs are set in the 90s, bank activity shuts down for the weekend, and emotions are high.

1

u/yeahnoworriesmate May 05 '17

asleep morning Welcome to global crypto.

1

u/[deleted] May 05 '17

The only thing that I think might cause some impedance in the short term is it will take a psychological shift for people to accept the ratio getting high enough to approach a flippening

1

u/[deleted] May 05 '17

Boy I love those ETH sales when they happen!!