Ethereum is in an artificial bubble

[25hashcoin]

A bunch of insider trading and a few sorry sheep who are soon going to lose their shirts.

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[mtnsaa]

Even knowing it's a bubble you can still make money,  and the thing is that you don't know how long momentum is going to be in the up direction.  Could be for a while.

Exactly, the way things are going (Bitcoin isn't going to get any better any time soon) Ethereum have a very clear road to keep the uptrend unless some very bad news start popping up. The problem is that every week is quite the contrary, new deals, dapps coming up and other positive announcements.

And if the mainstream media start positioning ETH as the upcoming Bitcoin killer, well, we'll see another kind of bubble altogether...

[mrcashking]

Yes, everyone knoves that it's a bubble. What I am saying is that it's totally artificial. I realised it looking at coinmarketcap charts.
Almost all of the trading volume goes trought Poloniex and Kraken. On poloniex there's almost ONLY eth/btc volume, no eth/usd volume at all.

That is what confuses me all the time.Their cold wallet storage and their exchange volume are obviously saying something.

For me it means than NO FIAT MONEY is flowing in ethereum market cap, it's only that a few btc whales are shorting bitcoin to make money on ethereum pump and then to buy more btc with the profit.
AAAnd, one more time noobs will be fooled.

There is a high chance that they are using the 25k btc which they acquired by selling the Ethereum in the past.However no body knows how many old miners are involved in it. IMO both the exchanges are legit and make the money if you can.

[GeniuSxBoY]

It's easier for me to buy bitcoin with USD, then send bitcoin to myself to trade for ETH.

Trading ETH/USD isn't very convenient yet, which explains why so little use it.

[btcxyzzz]

Nothing artificial there, genuine interest in it is pretty big, partially fueled by Bitcoin turmoil. No wonder it's in bubble mode now, that's why I think correction afterwards won't be lower than 0.015 BTC

[fortunecrypto]

Yes, everyone knoves that it's a bubble. What I am saying is that it's totally artificial. I realised it looking at coinmarketcap charts.
Almost all of the trading volume goes trought Poloniex and Kraken. On poloniex there's almost ONLY eth/btc volume, no eth/usd volume at all. Kraken actually has eth/usd volume but much smaller than eth/btc.
For me it means than NO FIAT MONEY is flowing in ethereum market cap, it's only that a few btc whales are shorting bitcoin to make money on ethereum pump and then to buy more btc with the profit.
AAAnd, one more time noobs will be fooled.

Who uses fiat to buy altocins anyway? Ppl usually use fiat to buy btc and then buy othercoins with it.

Totally agree you hit the only way to alt coin is bitcoin all exchanges are showing that if you want to buy altcoins you have to use your btc not another altcoins to altcoins or fiat money..

[Nxtblg]

Agree with OP.

I mentioned elsewhere that if you look at Poloniex volume for the top 10 alts, they've all shot up around 10 - 40 times in volume in the past month or two. To me this means that there is simply massive speculation going on across the board. Regardless what anyone thinks of ETH fundamentals and long term, it's clear that right now it's way too high. It's due for a huge correction any time imo.

Maybe - but to my eyes, it looks like we're early in a new bull market. As the old adage says, "Markets climb a wall of worry and slide down a river of hope."

I survived the river-of hope phase of last year and '14, but barely. Now, I'm seeing "wall of worry."

[Za1n]

Yes, everyone knoves that it's a bubble. What I am saying is that it's totally artificial. I realised it looking at coinmarketcap charts.
Almost all of the trading volume goes trought Poloniex and Kraken. On poloniex there's almost ONLY eth/btc volume, no eth/usd volume at all. Kraken actually has eth/usd volume but much smaller than eth/btc.
For me it means than NO FIAT MONEY is flowing in ethereum market cap, it's only that a few btc whales are shorting bitcoin to make money on ethereum pump and then to buy more btc with the profit.
AAAnd, one more time noobs will be fooled.

This is probably due to the fact that Poloniex does not trade in fiat currencies, only in crytpocurrencies. They offer USDT (Tether) which is not fiat, and if you have to exchange to tether to trade most people would probably just as soon exchange into BTC to begin with.

While Kraken does offer trading in fiat, keep in mind that there are withdrawal limits in place for how much fiat you can withdrawal daily based upon your level of verification. There are no limits on withdrawing cryptocurrencies once you are verified to Tier 2. So for people who trade in large amounts (where most of the volume comes from), there are benefits for keeping the funds in crypto.

[chesthing]

ETH pumped, and soon dumped. Of course it's artificial, is anyone naive enough to think it sat at 200k sats for 3 months then the buying public decided it was worth 15x that in a few days?

[edmundduke]

Yes, everyone knoves that it's a bubble. What I am saying is that it's totally artificial. I realised it looking at coinmarketcap charts.
Almost all of the trading volume goes trought Poloniex and Kraken. On poloniex there's almost ONLY eth/btc volume, no eth/usd volume at all. Kraken actually has eth/usd volume but much smaller than eth/btc.
For me it means than NO FIAT MONEY is flowing in ethereum market cap, it's only that a few btc whales are shorting bitcoin to make money on ethereum pump and then to buy more btc with the profit.
AAAnd, one more time noobs will be fooled.

The real question is does anyone actually care if it is a bubble or not ? Most of the volume is from whales true but trades are contributing a whole lot also, and traders are in there with only one goal, to make profit. And  have to say ETH is excellent for trading right now, a lot of easy profit from trades. The only ones who will get hurt are the fanboys, but hey, someone has to take a loss also because everyone cant be in profit.
Most altcoins are just bubbles anyway, its the knowledge of how to trade them that counts.

[hv_]

Hat - Bubble seen

https://www.tradingview.com/chart/ETHUSD/UcCzL0Mb-ETHUSD-BUBBLE-CYCLE/

[willope]

Lol sour grapes.

Thanks OP posts like these are a massive bullish indicator for the ETH price. And make very pleasurable reading.


It's the same feeling i get if i read that someone i hate got run over by a bus or my favourite team won the FA cup.

Keep em coming

It's a pleasure to be hated by you, a hater.
Anyway, I am very interesed in ethereum, but this is a bubble. So... Come here in a month and read only my last sentence:
 
    I TOLD YOU SO

Only to remember:

[mrcashking]

Yes, everyone knoves that it's a bubble. What I am saying is that it's totally artificial. I realised it looking at coinmarketcap charts.
Almost all of the trading volume goes trought Poloniex and Kraken. On poloniex there's almost ONLY eth/btc volume, no eth/usd volume at all. Kraken actually has eth/usd volume but much smaller than eth/btc.
For me it means than NO FIAT MONEY is flowing in ethereum market cap, it's only that a few btc whales are shorting bitcoin to make money on ethereum pump and then to buy more btc with the profit.
AAAnd, one more time noobs will be fooled.

This is probably due to the fact that Poloniex does not trade in fiat currencies, only in crytpocurrencies. They offer USDT (Tether) which is not fiat, and if you have to exchange to tether to trade most people would probably just as soon exchange into BTC to begin with.

While Kraken does offer trading in fiat, keep in mind that there are withdrawal limits in place for how much fiat you can withdrawal daily based upon your level of verification. There are no limits on withdrawing cryptocurrencies once you are verified to Tier 2. So for people who trade in large amounts (where most of the volume comes from), there are benefits for keeping the funds in crypto.

Also they only allow it for a handful of countries and i don't think most of the people are really impressed with the verifications and all that stuff.

ETH pumped, and soon dumped. Of course it's artificial, is anyone naive enough to think it sat at 200k sats for 3 months then the buying public decided it was worth 15x that in a few days?

There could be a significant amount of volume being traded by Traders.Not all of the volume is bought by people?

[pliv84]

I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?

[Golftech]

I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?

For the PoS coins, if the inflation is less than 1% a year, or the interest is less than 1% a year, it is fine with me.

[mtnsaa]

I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?

Quit your weak FUD, we all know Ethereum has a limit of 100 million coins, there's only inflation for the next couple of years and it's very low and then it switch to PoS.

[TPTB_need_war]

On the non-logarithm scaled chart, Ethereum broke down through the February pump support, and the next support is from the January support line which currently extends to about 0.0164 BTC ≈ $7:

https://dc-charts.com/chart_eth.php?ex=16&cu=0&tz=6&ar=1

On the logarithm scaled chart, Ethereum broken down through all support lines and there is no support.

[Fademigo]

I don't understand why so much money is flowing into Ethereum. Given that Ethereum is inflationary, and therefore has no fixed supply - it seems like a terrible long term investment. Can someone please explain why so much money is getting pumped into it right now?

Quit your weak FUD, we all know Ethereum has a limit of 100 million coins, there's only inflation for the next couple of years and it's very low and then it switch to PoS.

We do not know the upper limit yet. It will decided early next year when the PoS phase arrives.

[Fademigo]

Even knowing it's a bubble you can still make money,  and the thing is that you don't know how long momentum is going to be in the up direction.  Could be for a while.

Yes, telling people invest in this risky project so IPO buyers can make a fortune. Deceiving people should be made illegal.

I also made small profit. I mined the Ethereum when the price was about $0.8-$1.0. I sold all my coins at $1.4.

[Golftech]

Even knowing it's a bubble you can still make money,  and the thing is that you don't know how long momentum is going to be in the up direction.  Could be for a while.

Yes, telling people invest in this risky project so IPO buyers can make a fortune. Deceiving people should be made illegal.

I also made small profit. I mined the Ethereum when the price was about $0.8-$1.0. I sold all my coins at $1.4.

Your profit is too small. If you hold until today, you can even make bigger profit. But who knows future.