Ethereum Price Prediction March 31st
Ethereum Price Prediction March 31st. Ethereum bounced off intraday highs at .03 vs Bitcoin and is in a 4 hour downtrend and should test support at .025. I think Ethereum should trade in a narrow range between .03 and .025 over the next few days. The resurgence in Bitcoin was drawing funds away from Ethereum when it rose to $430 and a pullback in Bitcoin has caused Ethereum to rise. Until Bitcoin breaks $400 Ethereum we will not make new highs as they are extremely correlated in price movement. Taking a look at the chart below we see Stochastic RSI is at 40 and should test the lower range. The CCI is at 60 in a downtrend. The jury is not out yet. I was bearish for a while, but the bullish scenario looks more likely now long term. The longs have had time to unload at the current prices and above. The market is much more balanced than a few weeks ago, the news flow is still rather positive, so it seems likely to me that we go higher after the current dontrend. On the other hand, the more up we go, the more the risk of a total crash increases as new longs are established at bad levels. The other wild card is BTC which looks weak. A big wave of liquidation in BTC is bad for crypto even if there is a local bid for ETH/BTC pair. For long term investors dollar-cost averaging buying dips over a 6-month to a year’s timespan works not pumping money into an already pumped up market. That’s way too risky for most “investors”.
Been slacking on #ethereum‘s dev diary. Been so busy with the 1.4 release.
— JΞFF (@jeffehh) March 31, 2016
The Plutus Mobile Application enables a user to make contactless Bitcoin payments at any merchant with a Near Field Communication (NFC) enabled checkout terminal. This is the most practical way to pay with Bitcoin, because the payment process consists only of holding a mobile device above the merchants NFC reader. As a result, Bitcoin payments are effectively accepted by proxy at over 32 million brick and mortar merchants around the world.
Some firms are even developing their own version of blockchain. Ethereum, for example, is a blockchain-based decentralised platform that developers can use to create their own applications, cryptocurrencies and virtual organisations.
Co-founder Mihai Alisie says giants such as IBM, Microsoft and Samsung have already started researching its possible uses.
If you’re still trying to figure out Bitcoin, don’t look now but Ethereum is the new Bitcoin: “The rise of the relatively new virtual currency has been helped by a battle within the Bitcoin community over how the basic Bitcoin software should develop. The fights have slowed down Bitcoin transactions and led some people to look for alternative virtual currencies to power their businesses. Enter Ethereum.”
Bitcoin has struggled, but a rival virtual currency called Ethereum has climbed 1,000% over the past 3 three months https://t.co/TUZYMCAdxg
— The New York Times (@nytimes) March 28, 2016
Yes I think Ethereum will succeed and the price of ETH will rise, but if you are looking for the big gains from the present moment, I think your looking in the wrong in direction. Don’t be lazy, don’t randomly put part of your stash in every single altcoin out there. Opportunities like this are rare and you would literally be throwing it away.
I know people will disagree, but apart from ETH and BTC, if you hold any other altcoins I would suggest selling it all for the DApp boom. I’m telling you now, these altcoins will never take off, they are play things for traders.
Currently bullish on BTC, we’re on the verge of volatile times, and I’m taking a bet on it going upwards. Will be holding my future ‘gambles’ on DApps in BTC for now.
3-month uptrend being convincingly broken. That’s the end of the bubble. Just a reminder that after Bitcoin’s first bubble the price crashed from $31 to $2, and after the last Litecoin bubble the price crashed from $50 to $1. If you have more than “what you can afford to lose” invested in Eth, now is the time to get out. If you truly believe in Eth and you’re investing for the long-term, you’ll have several months if not years to accumulate at lower prices.
“The need for a powerful platform for p2p value exchange and permissionless innovation remains and WILL NOT DISSIPATE.”, “Metacoin platforms (like ethereum) are ON THE RISE while bitcoin is sliding into the trough (of the hype cycle).” -Gartner Research