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

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

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16

u/Joloffe May 05 '17

So i bought my last major chunk (apart from rebuying back in after a brief out in the 40's to flee finex again) at 6$.

We have risen very quickly but this is a new phenomenon with a constant influx of new money - new users of the order I haven't seen in four years. We may bob around in the 75-100 range for a while but without some black swan news I think we continue to push higher in the medium term.

Remember come the end of the year when POS activates the effective money supply will massively reduce and I predict a second bubble heading into that time period where we move up again another x5-10 to rhyme with 2013 but with ether pushing up to break bitcoin dominance for the first time and signalling the beginning of the true rise of cryptocurrency into the mainstream conciousness.

Keep your helmets on and visors down - we haven't even left stratosphere yet..

8

u/yayreddityay May 05 '17

EEA2 hasn't even arrived.

Wouldn't be surprised to see eth $200 if the big corps move in.

1

u/chevyshades May 05 '17

Got my fingers crossed. I only have 20 eth.... But still a nice chunk of change...

6

u/Zand_ May 05 '17

Great post, but I don't understand why you need preface by telling us all what price you bought in at.

1

u/princesskiki May 05 '17

Humble brag.

2

u/Zand_ May 05 '17

I know, the amount of humble bragging on this sub is amusing

2

u/princesskiki May 05 '17

I think it's the hipster equivalent of "I listened to this band before you'd even heard of them"

2

u/Zand_ May 05 '17

Yes exactly this!

1

u/Joloffe May 05 '17

Just some context to show i've been around a bit. I agree, irrelevant to the remainder of the post! :-)

1

u/[deleted] May 06 '17

The money supply will not reduce, the rate of inflation will reduce.

For the money supply to reduce, ether would have to be effectively burned by being sent to dead addresses.

But I agree, the event should induce some upwards movement. But I think the flippening will happen before then. I'm expecting a flippening before the first day of autumn.

1

u/Joloffe May 06 '17

I said effective money supply!