ETH - Still correcting. Medium term target $5244.34
Most of the analysts out there are talking about a Bear Market and all I can see is a Bull Market with the normal Healthy corrections taking place. My first chart shows the current correction being an ABC (Expanded Flat) with a bottom around the $930.00 mark (Note that the bottom on the chart is the blue 5 of C.)
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The second chart is the Mid term outlook and has a target of $5244.00. If it developes the way I think it will, it will form a set of Fractals with Fractal 2 being nearly 4 x the size of fractal 1. If you look at the increase after Fractal 1 and multiply that x 4 it lands pretty much on the target predicted by EWC. Both very bullish signs and confirming each other.
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These charts are for my personal trading and entertainment purposes only. Please do your own Due Diligence before investing in any token and never invest more than you can afford to lose.
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It is definitely a bullish market.
Hi again,
So do you think BTC will go up with it?....or do you see at $5000+ ETH will over take BTC?
I've also been thinking that....if all these altcoins gets pumped...as its easier to pump a lower market cap coin to make profit than to pump say ETH or BTC, then do you think it'll take "very long" or relatively much longer to get to those levels? I've seen a few "good" analyst say $5k to $10k this year.
Thanks again
BTC will reach new ATH in the 1st Quarter as will most altcoins. I personally believe that 2018 is going to be far better than 2017 for all cryptocurrencys.
It is easier to make huge returns off of the lower market cap coins than it is off BTC, Eth, Dash etc. But you need to be very careful and watch the trading volume of BTC for the altcoin. A coin with a BTC trading volume in excess of 1000BTC in any 24 hour period is safe. Anything below that starts getting risky. As an example an altcoin with 20BTC trading volume in a 24 hour period only needs a few BTC spent by a whale and it looks like the price is rocketing up. The whale starts taking his coins out at huge profits and once the initial fomo from Joe public subsides you are sitting with hundreds of thousands of coins with no buyers due to low volume, next thing the price crashes again as everyone starts trying to get out. That scenario plays out every day in this market.
I think $5K to $10K for ETH this year is very conservative. That is probably the minimum you will be looking at.
You may find this interesting...watch it when you have some time.
Thanks again for your comment/ideas
Hey gmrbotswana,
I found this guy's ETH $5k+ prediction graph online and it that talks about fractals. I'm new to that..never learnt that at uni back then..so its interesting to me. Now...the highest ETH prediction (at least for this year) I've read is "only" $10k. Whilst you've said your estimate of $5k-10k is "very conservative". Partly because of that it made me want to do my own (very basic) estimate...and I came to around $20k. I was wondering if you came to around that figure as well?
This time round I'm not going to state timeframe...as that figure plus timeframe seems like a FOMO prediction...quite unrealistic...at least at the moment. But I guess it is cryptos.
Thanks
I have a target of $8700.00 for the end of 2018. What it doesnt take into account is the volatility and FOMO of cryptos. 2017, ETH saw an increase of 8900%.It went from $8.00 on the 1st Jan 2017 to $717.00 on the 1st Jan 2018. We can assume it wont do any where near that in 2018, but I firmly believe we will see it do 20 to 30% of that which will put it some where around the $12762.60 to $19144.00 mark. People look at the figures and say its impossible because ETH will have a market cap worth trillions of dollars. Unfortunately the vast majority of people think that 1 million dollars is a huge amount of money and struggle to comprehend any numbers above that. If the Crypto market cap goes to 28 Trillion over the next couple of years it will still only be a fraction of the current futures market. Or a fraction of the USA governments debt. A fraction of the current physical gold bullion. A fraction of the physical money in circulation around the world. I could go on, but you are one of the few people on the forum who has the knowledge of what is actually out there and just how far cryptos can go.
Cool, so we kind of landed on a similar figure. Fingers crossed it does hit those figures.
Yea...I did a post about how big other markets are and that Apple alone is nearing $1T and soon this Saudi oil company called Aramco is doing an IPO...and the estimated value is like $2T+...which would be the most valuable company in the world.
Just thinking how ETH can do smart contracts...that alone is just kind of hard to imagine how massive it'd be in the future...someone estimated it to be at least 10% of global GDP in 2027...so thats about $10T (give or take)...thats probably a bit conservative IMO....Hopefully now that Vitalik is more FT on Ethereum...more updates will be released...especially the scalability one.
P.S. I'm still very new to Steemit..so not entirely sure how the upvoting stuff works...and seeing that 1 cent reward for your posts seems a bit insulting...so don't take it the wrong way.