People are panicking and saying their peace and burying their old friend Ethereum for things they hope to be better than Ethereum, but they're forgetting a big thing.
Ethereum holds about 80% of all assets, and almost every single mentionable one, from BAT to GOLEM to Augur. Ethereum has over 30billion USD dollars in it, more than the GDP of dozens of countries.
That isn't something that just topples over.
Contrary to where I got this chart from, I believe this shows just quite how good of a position Ethereum is in, or rather we are in to buy it.
There were over 4x as many transactions than ever before with the status ICO. This is huge and if this was happening on btc the entire network would freeze, and rather than the currently high fees btc has, which I believe are higher than ethereum, it would be so high it'd be virtually unable to be traded.
Once Ethereum clears out all this gunk, logically they'll work on fixing this issue, as well as ICO's will likely change their practice as they're personally invested in ethereum as well.
Furthermore, realistically, there isn't anything like STATUS coming out on Ethereum, nothing with quite that much hype, which means once all these built-up transactions clear through and we get back on track there's no real reason for Ethereum to stay low.
Trust be told though, they aren't out of the deep sea, many chinese mining pools have withdrawn or refused to support SEG-wit #2, but that's not be covered much right now, and thus nobody is taking into account this possibility, albeit slight.
Furthermore, as many have mentioned, Seg-wit #2 is not fully developed and tested, and thus more pull-outs may be possible, especially because it doesn't really hurt the miners whatsoever to do so.
The question isn't should we be burying Ethereum, but rather how much is the bitcoin hype due to the alleged resolution causing ethereum to drop? Bitcoin just stabilized and has begun to drop in price on USD-Crypto exchanges like coinbase, and all day yesterday, the day before, and earlier today ETH -> BTC was trading for $15-20 less than ETH -> USD, signaling once again that there was a large expected increase and hype surrounding BTC, which shows, in my opinion, a clear sign that these tables may be turning once again as BTC struggles to breakthrough $2725-2750, despite still having the volume coming from significantly from ETH sellers.
Whatever this is it's going to be a wild one and many were right about the dips and dives this summer had to bring.
But don't get your shovel out just yet, especially when so many others have theirs out and are discouraging the ETH market and flooding it with doubt.
A last word, remember that the market is based on emotions, not real tangible realities, access the market as such, not as a rational entity, as most traders are not rational.
Personally I just dumped $1500 into ETH as I believe combined with the above, plus the WAY cheaper transaction fees from what I understand, Ethereum is here to stay and in no time is due for a boom. I would position investing in ETH currently as a moderate risk investment, but decide for yourself as in the short term, the next week, this can go either way.
As a note, at the time of posting we're (finally) down to 7,000 pending transactions, and in the time I've wrote this post Ethereum has stabilized and went up slightly, while bitcoin as went sideways all day and lost a little, still testing $2725->2750.
For the second non-cited image, it came from here
