Ethereum Classic: The Dip and Some Unusual Analysis

1886
Ethereum

In today’s trading session, ETH is languishing with Bitcoin down in the doldrums, in Ethereum’s case, at around $111, which represents a six-month low – actually, scratch that, it represents the lowest point since April 2017!

Ethereum’s current slump notwithstanding, there are some rosy projections from analysts about big increases for ETH on the horizon.



Some of these, however, are written in kind of a strange way.

A piece posted today on Smartereum runs under the byline of Andreas Kaplan, but sounds a little different than the seasoned professional’s usual analysis.

This short article starts out with an explanation of what Ethereum classic is, but quickly runs to some garbled syntax:

“While the applications of Ethereum might be plenty but (sic) most of the cryptocurrency enthusiasts are just interested in knowing the price predictions of Ethereum classic.”

Huh?

In the next segment, this turns into a full throated endorsement of ETH and a projection at $65 by the end of this year, and $171 by the end of a five-year span.

The rest of the piece is essentially a call to buy-and-hold this popular cryptocurrency. That’s not unusual – but the wording and punctuation really seems strange…

If you haven’t got your hackles up yet, check out this additional piece, also dated today, titled: “Ethereum Price Predictions 2018: How High Can Ethereum Go?”

There’s some really strange phrasing here:

“Naturally, people will be intrigued by the opportunity which Ethereum cryptocurrency provides.”

You’re a gentleman and a scholar, sir.

“Most of the cryptocurrency experts with whom we will speak are actually bullish on Ethereum cryptocurrency.”

Ditto.

“We will today discuss some of the Ethereum price predictions (sic) 2018.”

That should be: price predictions of or for 2018…?

“The reasons behind the rise of Ethereum are plenty.”

A composition teacher would get out the red pen for this maze of passive phrasing.

And then there’s this:

“Currently, the price of Ethereum is around $.”

Yes, the actual price of Ethereum is noted in a graphic banner chart just above, but still – it’s a little obvious that there’s something missing here.

Ok and then wow:

“The smart contracts capability of Ethereum is 2nd to none. Many corporations, as well as business houses, are using the smart contracts capability of Ethereum in order to create their own products as well. This is further making Ethereum more and more popular as well. As the platform becomes widely used, it will gain more and more movement and this will increase the price of the cryptocurrency as well. As the decentralized usage of the platform becomes more and more popular, the demand for the cryptocurrency will also increase.”

Let’s digress to a more articulate sense of what’s going on with ETH, such as this from Aayush Jindal at NewsBTC:

“Looking at the chart, ETH price is clearly under a lot of pressure below $118 and $126. If it resumes its slide, there could be more losses towards $100 and $95 in the near term.”

Ah – that’s better. When it comes to analysis of a volatile market, words matter. Let’s hope some of the editing elves get back on the Interwebs soon.

As with some of the other bigger cryptocurrencies, there is a general consensus that after the current rout, ETH or bitcoin or any one of these major players might be a good buy-and-hold. It’s a question of what you think the market will do over the long-term. Voices on either side could propel the overall crypto market up or down – as a very speculative venture, what the experts and big investors say makes a big difference.



Another thing you can look for, though, is actual government and business investment in blockchain-related fintech operations. These infrastructure moves require building up the crypto communities to handle the demand, and those will be market movers as well.

NO COMMENTS