Bitcoin Forum

I am a newbie to cryptos, but I have experience trading in stock and options markets.  Sold my small position in ETH this morning.  Bought at $264, sold at $261.  I think we go lower in the short term.  My short term target is about $225-230.  Any traders with any thoughts?

Well at the ATH we had a lot of buyers to help provide funds for the Token Sales along with a Eth conference in Asia. Then the token sales died off a little and the ICO's don't have to have ETH. So I think there was just a lot of demand. There is major support at 220, but I have seen a lot of support where it is now as well. BTC might be the biggest driver here, as we get closer I can see people sticking some money in ETH and LTC along with several other Alts which are considered relatively safe. I personally am expecting prices to get to the 300 mark again by late July just because of the BTC Seg Wit integration

this world requires an onboarding of about 3 months.
do not do big moves before you understand where you have landed :)

read, read, read.

If the opener does in fact have experience trading stocks and options then that advice does not apply to him since he has enough experience trading already, the only thing is that crypto cannot be easily predicted with tools like technical analysis.

Eth is going much lower. I personally wouldn't touch it unless it go back to appropriate price of around  $5 to $10 and for trade purpose only.

if you are indeed new to this you need to know one important thing: this market is different from Stocks market in many aspects.
the biggest thing you will notice is all the manipulations. when someone owns majority of the "shares" and also has lots of money they can easily manipulate everything.
also you need to know about what affects the prices.

for example in case of ethereum the ICOs have been increasing the price of ether artificially. and it is actually scaring me to want to enter it now because all these funds will soon start exiting and when they do they will crash the market with themselves.

Wonder what will happen when EOS cashes out on its 600k ethers raised in ICO lol.

There is no way they will sell off their stock when the price is stabilizing,they might convert some of their funds to fiat for the general expense but for a project that big i really do not see them doing those kind of thinks as i am sure they will have the initial funds to set everything right.
You really cannot predict how the market behaves,but i expect a dull market till August.