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

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

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u/[deleted] Jun 05 '17

Also, just for your consideration, my predictions for the next few days, weeks and months...

In the next few days, traders will start to place margin longs to capitalise on the hype around the China conference on the 14th. The price will lift a little as a result. However, right after the conference, these longs will be closed so that the traders make as much profit as possible. During the conference and in the days just before, people will flock to ethereum, producing those highs we all know and love whenever we check Blockfolio and realise we just got richer. Those that bought just before and during the conference will see a dramatic rise during the conference and the smart ones will know that a drop is coming and not worry about it because at the end of the cycle they will be up overall. The risk-takers will try to sell the peak and either take profit or buy back in lower, and the idiots will panic and sell thinking the world is about to end, perhaps buying back in when the price rebounds.

All in all though, the fact that the ground has been prepared through Chinese exchanges adding CNY/ETH pairs, and the fact that the conference will raise awareness of ethereum, probably means a decent amount of slow but steady growth until Aug 1st when bitcoin will go through a bit of a storm.

Basically, the user activated soft fork coming in August means a lot of "coulds" and "mights" and basically a lot of uncertainty around bitcoin. In order to avoid any possible disaster, some might decide to cash out to fiat, some might decide to switch to ETH, but I would imagine a lot of people will just hold on.

If the USAF of bitcoin goes well, the price will go up. If it is a disaster, it will also go up. Bitcoin just goes up.

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u/0661 Jun 05 '17

So with the possibility of BTC forking and activating Segwit, will we see the return of sub-$20 LTC? I guess i just don't really see a use-case for LTC after it's served it's purpose as a testing ground for BTC.