IS ETHEREUM READY FOR THE MOON JOURNEY?
Ethereum is the crypto currency next to Bitcoin in terms of market cap which means it's traded in huge volumes daily second to bitcoin. What makes ethereum (also known as ether) so special is that it offers "smart contracts" functionality over bitcoin and also has a relatively lesser block time of just 12 seconds opposite to bitcoin's 10 minutes block time. But, the question is, "Is ethereum going to overtake bitcoin's market cap in 2018 and bring us a lambo"?
Pic credits : https://www.google.co.in/amp/s/amp.reddit.com/r/ethtrader/comments/6tamgo/what_is_the_origin_of_the_vitalik_jesus_lambo/
Well, time will tell but so far ethereum looks poised for massive gains for the year 2018 with huge developments undergoing.
Let's have a look at ethereum's price chart vs bitcoin :
As seen in the graphical representation of ethereum's price vs bitcoin, we can see that it broke out of the downtrend after making a low of ~0.02350000 satoshis and now it's in a strong uptrend channel (the three yellow lines). If the middle channel is broken, we expect it to get a support at 0.09 - 0.0925 area (the blue box). For buyers, 0.09 or below looks to be a decent entry and if it holds nicely and reverses, we might see it testing the upper channel and test the 0.125 satoshis price area. Note that crypto currency space mostly runs of hype and if ethereum starts getting much hype from the media, it's not going to be so tough for it to surpass bitcoin's market cap as it has a lot of room to grow. Remember when people called bitcoin overpriced when it was being traded at a price of $1000?
By the way, ethereum has also surpassed bitcoin's market cap for once in 2017 but for a very short time.
Please do NOT rush to buy all at once and only buy with a fraction of what you're planning to invest as the market is very unstable due to BTC FUD. Wtf is FUD? Well, it stands for fear, uncertainty and death.
DISCLAIMER : THIS IS NOT A FINANCIAL ADVICE BUT THE BEST POSSIBLE PRICE FORECAST ACCORDING TO US. PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ACTIONS. ALSO, THE "D" OF FUD STANDS FOR DOUBTS NOT DEATH SO DON'T BE SCARED.😂
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If you have any questions, please comment below and stay tuned for more updates. Good luck everyone!😊
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STOPGood blog! I myself do not believe it's ready to go to the moon.
Hi @cryptowiththomas, thank you for the comment. It's good to know that we are on the same side!😉