Ethereum (ETH) fell to the bottom of the descending channel. ETH / USD did not fall to $ 100 as buyers started accumulating aggressively around $ 103. There are still a lot of investors in the market who would be happy to see the price back to $ 500 so they can buy, but now they are waiting for that $ 100 to be hit again before they buy. I can not begin to fathom. Meanwhile, smart money has been busy accumulating at these levels. The outlook of Ethereum (ETH) today is a lot better than it was the last time Ethereum (ETH) was priced this low. This is a strong reason in itself.
Critics of Ethereum (ETH) may say that Ethereum (ETH) has a lot of problems and that will take a long time. All of that may be true, but the fact remains that everything has a price. If you do not believe in the long term future of Ethereum (ETH) for 5 to 10 years from now, you still can not deny that it is a bargain at current prices. The availability, liquidity, and ease of storage make this decision for investors who are looking to add top executives to their digital assets portfolios. Now, one thing is clear but that Ethereum (ETH) may not be similar to ICOs again. This means that the platform will have to find other ways to preserve its value proposition.
Chart for ETH / BTC (1D)
From a technical standpoint, Ethereum (ETH) is currently a buy from every angle. The price has reached a new low for the year; the RSI has bottomed out on the weekly and the daily time frames. ICO projects that have raised funds via ETH have mostly dumped their coins by now. If anything, new ICOs are going to raise funds via ETH are expected to drive up demand for Ethereum (ETH) once again. However, as aforementioned, this way of raising money for new projects is likely to change soon with the introduction of security tokens. Polymath will eventually become facilitators in this space and Ethereum (ETH) may have the same influence over this space as it once did. There is still a lot of Dapps built on Ethereum (ETH) and they have no intention of leaving the Ethereum (ETH) blockchain anytime soon.
ICOs on your blockchain could be a good thing. As we saw, it gave a big boost to Ethereum (ETH) and made it the second largest coin by market cap. However, allowing all projects to raise funds via the Ethereum (ETH) blockchain just because they are buying a ton of ETH comes with its problems. Ethereum (ETH) has been in trouble over its connection with ICOs in the past. I'm out of the funds I need to build and run their businesses. Ethereum (ETH) could get dragged into it. We are currently the biggest risk factor for investing in Ethereum (ETH), but we are currently using this risk.