Ethereum (ETH) has reached its 30-day high on National Day (9 Aug 2017), passing the $300 USD mark. But is NOW really the time to invest in Ether?
Many investors worry that this might just be another Ether bubble forming in a bubble that has yet to pop since early 2017. It has grown +3100% since January 2017 from $10 USD per 1 ETH to around $300 USD per 1 ETH (as of early August, 2017).
This significant growth is related to recent success stories of Ethereum-based (ERC20) tokens including EOS, Golem Network Token, and Bancor. The token crowd-funding frenzy since January 2017 has in total accumulated more than $300 million USD – hence, the sudden growth in demands for ETH.
Many are worrying that this sudden growth might simply collapse when these crowd-funded token projects/platforms decide to cash-out their accumulated Ether. Imagine over $300 million USD worth of ETH suddenly being traded back into fiat currencies. That would be the worst bear-whale nightmare in the history of all cryptocurrencies combined.
However, it is highly unlikely that all these projects/platforms would cash-out their accumulated Ether all at once. Perhaps the demand for ETH will only grow as with the increased popularity of Ethereum as a token-creation platform.
The developers of Ethereum are saying that the journey is only 20% complete and these token crowd-funds are merely 1% of what is to come in the next 10 years. Remember, if you had 100 USD worth of bitcoins back in 2010, you would be a millionaire today. So is NOW really the good time to invest in Ether? The answer is YES – if you are long-term investor and NO – if you are a daily trader. There has been a sharp increase in Ether’s value since January 2017. When there’s a sharp increase, there will be a sharp decrease to balance and we are not sure when that would happen.
One thing is for sure though. Ethereum definitely has the potential to grow even more as a Blockchain technology platform. In fact, it is one of the only few cryptocurrency projects that is not completely based on ‘speculations’ and ‘promises’. Development is still on-going and the platform is actively being utilized by users. That’s one thing to look at!
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