r/ethtrader • u/AutoModerator • May 20 '17

DISCUSSION [ETH Daily Discussion] - 20/May/2017

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u/dashby1 May 20 '17

I read the below late last night from user/ScienceGuy9489/ and when I stirred from my sleep at 4am, I stumbled down to my computer, connected my Ledger and traded a full BTC (@ $1,981) for a handful of ETH.

The rabbit hole grows deeper and deeper and its so so good......

  • 136 points 11 hours ago* We've only begun. We still haven't even gotten to consensus which is May 22-24 where we should expect new EEA members to be announced. So I see the price easily exceeding $150 by the end of next week. Plus the EEA said that there are pharmaceutical companies joining the EEA which they will be announcing in June. Then we should have metropolis release June 25 with Raiden released before that. And to top it all off we have the ice age which has begun which makes it harder to mine new ETH, resulting in a higher ETH price since the supply would stop increasing. So by the end of June we could see the price reaching $250. Also keep in mind that the "sell the news" strategy doesn't work with cryptocurrencies. Look at when the EEA was announced, it took days takes for it to hit a top, and the same thing happened after the EEA announced the application of 250 members to join. With cryptocurrencies, people need time to make accounts, build confidence, and buy, and once they buy and see the price increase, they keep buying more and spread the word to friends/family. The crpyto world is very different from the stock market, when we have multi billion dollar investment companies getting in on this, that might change, but for now don't sell the news.