Ethereum's recently experienced a flash-crash alongside Bitcoin in the past 7 days; this is something we've literally never seen since covid - this tells us a lot about what's to come.
First off, let's start off with a tiny little analysis:
The analysis might be basic but it is likely more accurate than all of the fancy graphs I've seen in the past.
According to that little sketch I've made, ethereum follows a very usual pattern of going down, holding, and then going up. With several other key moments such as when it just goes up and down with very minimal price stability. Based off of the above graph representing the past year, it is made clear to us that ethereum is going to hold its price for a bit. So get ready for a stable price - which should likely last several months, my guess is likely 2-3 months. I have some credibility here as my crypto portfolio is actually up 80% this year, compared to 120% last year. Which means I'm on track to reaching roughly around the same point as last year. In 2021, my returns were 102%, and in 2020, it was exactly 246.19%. The years before that averaged around 20%-30% on the stock market(annually). Keep in mind, crypto assets only take part of around 30% of my portfolio. It started out at well under 5%.
That's enough about me, back to the topic at hand:
Just so we have a bit of variety, according to the top ethereum price predictors, they tend to predict the following for the next few days:
The best bet you've got when it comes up to surviving this bear run is to simply just hold, forget about actively trading and just let it sit until we're in a bull market again. Keep your eyes on the news and just make sure that it isn't going to be skyrocketing without you being there. The analysis above obviously indicates a price decrease over time but I personally say that it'll hold it's price within 100$ range.
In light of us making our own financial decisions..here are a few more stats that'll provide an increasingly in-depth analysis for your portfolio:
Historical Annual Stats:
It's a bit interesting, last year and 2018 have one thing in common: absolute unpredictability. If we follow the trend we've seen the past few years...we'll be blowing through the current price within the next several months.
Monthly Stats:
Obvious seasonal change over time is noticeable in the graph above. Almost every July, September, and November returns a negative yield. We're about to head into a september, so who knows how bad this can actually get. We've performed horribly in every september other than in 2016 and 2018...both years being the years where crypto had received massive international news coverage as it being the next financial revolution....right now crypto isn't looking very good and i hate that very much...but it's just the truth. If you want to take the most profitable move, you'd have to place a short on ethereum...that's what I'd do atleast. Ofcourse, use the data above and everything available online to guide your decision. The best long term decision is to hold and BUY, and the best short term decision is to likely short it if you can (not many people actually know how to short crypto without massive fees...I'm one of them lol)
That's all for today.
Here's a cheerful meme for you:
