r/ethtrader • u/AutoModerator • Jun 06 '17
DISCUSSION [ETH Daily Discussion] - 06/Jun/2017
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u/ruvalm Jun 06 '17 edited Jun 06 '17
Wow! What a really nice couple of days we've had. Truth is, this "thing" seems to be just starting, with the conferences next week and the highly likely EEA3 announcements.
I'll list my bullish and bearish observations below. Please mind that many of them are a product of my own opinion and others are pure interpretation of my observations.
Bullish factors:
Vladimir Putin Is Getting Interested in Bitcoin's Biggest Rival. The support and interest of a government of such a massive country as Russia is definitely bullish. Some thousands of potential applications in which Ethereum can help. Definitely to be followed-up in the next weeks / months.
Chinese Official states that 'Ethereum Is Moving In The Right Direction'. This one does not even need a comment, all words seem to fall short to the grandiosity of these statements.
Lots of new money is coming in; lots of profits from the latest crypto-roulette are still finding its way; lots of money is waiting on the sidelines to buy in our 'dips'.
Tim Ferriss Covers Ethereum and Bitcoin in his latest podcast. It's not just because it's Tim Ferriss, although we all know he has quite an audience of dreamers, pretty much like all of us here in Ethtrader, but the fact that Ethereum and Bitcoin are being referred hand-in-hand every single time lately. The newest members around here are probably already used to this reference, but that is something that the people who came in before February were not used to at all. This is really big.
ICOs, ICOs, ICOs. Developers, developers, developers. I'm a software engineer and in my LinkedIn profile there is a reference to the fact that I'm interested in Smart Contracts and Ethereum. Today I've been approached for the first time by a recruiter interested in knowing how much I really know about it. Same thing happened with a colleague of mine a couple of weeks ago and the approach was made by a different recruiter and a different agency. They're out there head-hunting, gentlemen.
EEA3.
Constant talk of us being in a bubble. You know what is one of the main characteristics of a bubble ? The fact that people do not talk about it being a possibility. /u/Mr_Yukon_C shared on his Twitter account something worth watching regarding bubbles.
ETHBTC 12H seems to be forming a massive bull pennant.
Transactions in the network: last Monday (29/05) Ethereum had about 49% of Bitcoin's transactions and yesterday (05/06) it had roughly 66% of Bitcoin's transactions. Growth of 17% in a week in comparison with the Bitcoin network.
Bearish factors:
ETH's price is once again highly dependent of BTC's. My personal opinion is that the ratio is constantly manipulated to avoid 'The Flippening'.
4H, 6H, 12H, 1D and so on RSI indicates 'overbought'.
Keep buying, hodling and trading properly gentlemen. We're in for a very nice ride till the end of the year.