Ethereum comes off of life support

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November 16, 2016, 10:53 pm

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Ethereum comes off of life support

Ethereum Price is soaring and it has investors breathing a sigh of relief. Last week ETH scared me half to death when it dropped to 9.77 on BTC-e.com. I had to moved all my coin to Coinbase to get a better price and i cashed out. I took a lost but ill explain why i did that. If you study the history of some alt currencies like Peercoin you will find that sometimes alt currencies can jump and stay stable but then fall rapidly. Ethereum has been doing pretty well but it only came up this year from $5 a coin. If you bought at 9.80 ad waited until 10.30 to sell thats $75 per 100 coins. Not to bad for a short term trade rite?

What could have caused the price surge in Ethereum? We have a new big start up and they are using ETH smart contract tech to make the business thrive. https://chronobank.io/ Plans to change the workforce industry the same way Uber changed the taxi business. They want to create a time based currency and cause a revolution in sub contracting basically. They want to do it without the banks and make sure everyone gets the rite amount of money for what they do. Anytime a company with potential like this one comes around you will almost always see a price surge.

As always thank you for reading please don't forget to follow me and like the topic.

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Lynne

Lynne

So you lost some money on Ethereum? Would it have been better if you had ridden it out or was the risk that Ethereum would completely crash and become non-existent?

0 8 years ago

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CryptoGuru

CryptoGuru

The thing is Peercoin was over $10 a coin and held steady for a few weeks and then fell so hard down to 40 cents. That can happen with any coin, Ethereum is fairly new to being important lol. I don't fully trust it and i had other money in LTC and also DASH that made up for the loss. Sometimes you break even sometimes you win and lose thats the game you play when day trading. I had to move my Ethereum into BTC as soon as possible because i knew the rally was coming. Now Bitcoin is around 735-740 if you take an average of every exchange. I exchanged when it was 703 so i did well again. I am also mining for Bitcoin so whatever im not trading is also growing, i wish i could help every person start a mining operation. I didn't think that Ethereum would become non existent just drop more money than i was willing to lose at the moment. I watch so many coins and sometimes its better to take a loss to you can move that money around. I was afraid it was going to drop to 9 or below.

0 8 years ago

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Cristian

Cristian

So you bought at 9.80 and sold at 10.30 which means you've turned a profit around? Are you going to re-invest back in Ethereum now that things started to grow again or it would be way to risky?

0 8 years ago

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CryptoGuru

CryptoGuru

I had about 400 coins with i made this trade so about $300 on one trade. If you can get it for 9.60 9.70 i think its a good idea to buy ETH rite now. They have been coming out of this slump they have been experiencing and it looks like they are looking good to return to above $15 soon here. If you can afford to buy hundreds of coins like i do then yes its totally worth it. If you can only buy 1 or 2 coins than i don think its worth the time at all boss.

0 8 years ago

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Corzhens

Corzhens

I know some people who are also investing in crypto currency but I really don’t know how they do it. They say that I should have a wallet and that’s the problem with crypto currency because I don’t know what a crypto wallet is. Another issue is when I want to convert the crypto currency to US dollars then I will have to find a buyer. That means Bitcoin, Ethereum and other crypto currency are not really currency at all but just a commodity with a market value.

0 6 years ago

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