I took a huge risk last night, I looked at Ethereum and came to the conclusion it moved too fast in it's massive ascent to $400 some weeks ago and when we saw it drop to $210 a few days ago, coupled with the overall direction of graph, maybe ETH is currently overvalued. At the time of writing this blog ETH is valued at $293.98 and dropping from it's recent rally of $330 or so. Could ETH crash again? I think so. I think ETH may crash below $200 this time as a serious correction to it's all too quick ascent to $400. I sold all my ETH at $300 to invest in other newer cryptocurrencies with more potential for growth, I made the choice last night that if ETH gets to the low $200s again (It may go down to $170s) I will buy it, because I believe in ETH and it's long term possibilities, but right now, I feel like it grew too fast too soon for too much and we are now in for a big correction.
That's the thing that is so exciting about cryptos, it's a rush trying to figure out what will happen, I may have made a big mistake last night but either way I think some of these newer coins I invested in have a lot more room for exponential growth and am excited about them.
)