12 days ago I wrote my first article on Steemit: Watch out when Ethereum hits $400 again.
Till that day my biggest investment was Ethereum. The tech is very interesting and I really believed in it. But at that time, some things were scaring me. You could read it back if you want.
Since that some things have happened. My concern about the scalability issues and the run on the ICO's became a sort of reality. Let's take that example of the flash crash of Ethereum last week, really insane.
When I was writing that article, I became a true believer in what I wrote. Maybe a little crazy because I was comparing Bitcoin to Ethereum and some people were mentioning you can't compare 2 coins like that. Yes, I know that. But for me, it was a sort of thing I needed to convince myself for not being stupid. Ethereum was rising too fast, and Bitcoin did that also in 2013 and many external factors were the same for me, like that media attention and so on. That's why I decided to compare these two with each other.
Actually, I think I wasn't just comparing two coins, maybe I was only comparing the circumstances which were very equal to me. History repeats himself very often and something in me said this could happen again. And I could have been wrong, but then again it was just a warning post where I wanted to explain why it wasn't worth it to keep your Ethereum because it was very risky. And that turned out...
Let's take a look now at the updated chart.
Pretty scary right? However, I think this is the point where the comparison stops. Because now the external circumstances are mostly over and this is really the moment where you can say: you can't compare two coins like this.
Anyway, for me it was something I needed to make a wise decision. And I can say it was the best decision I ever made since I started trading in cryptocurrency. I sold all my Ethereum at the top and invested in Antshares.
If you read my previous post closely you could read that I mentioned Antshares because I was thinking maybe Antshares could be that drop of water that does the bucket overflow for Ethereum. I had read that whole day a lot about it and what I read was very promising. I saw so many benefits, especially when it was compared to Ethereum. And on top of that, I'm a developer too who likes to use this awesome technology some day. And at that time - and still at the moment - I would use Antshares, partly due to the many programming languages they support.
It turned out I made my best move since I started trading in cryptocurrency. On that day, ethereum was 30% of my portfolio and I moved it piece by piece to Antshares. In the days that were following, I saw my Antshares rise upto 500%. You can imagine that my portfolio increased like crazy these days.
Unfortunatley, I didn’t saw this bloodbath coming from the three past days. Ethereum seemed to have a great impact on the altcoins, together with Bitcoin (which was also mentioning a lot this month in the news). I thought it wouldn't affect that much to the altcoins, but that was maybe a little bit naive because we have already seen that when Bitcoin drops a lot, altcoins are dropping to.
So in the future, if this happens again I know what to do. There will be another media wave reporting about cryptocurrency and when that happens and a certain coin is called specifically, I would take my bets out of it (if I have any at that time). And when they call Bitcoin also, I know now I have to be alert at that moment and considering to take out some of my money for a few days , because it is not worth the risk on those days.
For now, enjoy this new green wave!
