E L Emerson – 31st January 2018
Ethereum (ETH) | HNW Says: Hold
24-Hours – Down 3% | Current Price: $1,098 | Yesterday’s Price: $1,141
Despite the Facebook ban and usual shoogly peg of crypto-market price volatility, Ethereum has emerged as one of the stronger players in HNW’s Altcoin Top 10, losing just $50 during frenetic trading that saw volumes remain high at $4.6 billion.
Many have asked what’s driving the recent downdraft. And no one is certain.
Sure, the Facebook move to drop ICO and cryptocurrency promotions would have some folks reaching for their Coinbase and Binance sell buttons – aggressive marketing maketh crypto, so to speak.
And the moves by regulators against crypto exchange Bitfinex (of USDT token fame) and Tether – subpoenas are in the post, folks – have made many a finger jitter. As have allegations against Bitconnect (and a host of minor league currency players) claiming they’re running a Ponzi scheme.
But the more savvy amongst traders will always keep in mind that for every loud negative headline we’re seeing there are literally hundreds of others off the mainstream newswire about crytocurrencies creating deals with both digital and bricks and mortar businesses, many of which are in the financial space that’s making so much negative noise.
Equally, the blockchain technology and peer-to-peer information exchange that underpins this market is neither new nor going away anytime soon.
What it will do sooner than we all realise is begin to displace industry sectors reliant on intermediaries to function, and the world will never be the same again.
As for Ethereum, we’re actually excited here at HNW at how close the second-position coin now is to our preferred buy-in price range of $800.
So bring on the negative headlines, subpoenas, lawsuits and Ponzi accusations.
There’s a lot of money to be made this year in the cryptocurrency market, and the cheaper you can buy in the better the earnings once the dust clears.
Today’s Ethereum Recommendation
For those who already hold Ethereum, we suggest you stay the course. The upswing is coming for those who can steady their nerves.
If you’re considering a buy-in position, HNW recommends a price of $800 and below. A bit more media red ink and we might just get there this week!
You can find out the best way to buy and sell cryptocurrencies below, and stay ahead of the pack by signing up to HNW’s free update, The Crypto Millionaire.
Just enter your email address and we’ll take care of the rest.
How to Start Trading Cryptocurrencies
It’s simple to get started:
- Open a free account at Coinbase where you deposit funds from a bank account or credit card.
- Buy Ethereum or Bitcoin with your new Coinbase account (see our recommendations on buying and selling these premium coins).
- Once you have purchased Bitcoin or Ethereum on Coinbase, go to Binance and open a free account there. This will allow you to transfer your Bitcoin or Ethereum over from Coinbase and start trading in hundreds of other cryptocurrency options.
NOTE: You’ll notice that HNW recommends using Coinbase to buy Ethereum and Bitcoin, and Binance to buy and trade other altcoins. These are affiliate links. They do not cost you anything to use, and if you sign up to one or both it helps us to pay the bills.
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