Is now a good time to buy Ethereum?

If you’ve been following the cryptocurrency world then you know this past week has been buzzing with activity. While the hottest topic has been the future of Bitcoin, the second hottest topic has been the impact that concerns around Bitcoin’s future has had on other cryptocurrencies like Ethereum. After enjoying some time above $200 USD, Ethereum took a nose dive down to around $160 USD following a slew of scary news stories about potential challenges ahead for Bitcoin.

ethereum-usd-chart

(Chart source – TradingView) 

Of course, with both Bitcoin and Ethereum dropping in price many cryptocurrency skeptics have been enjoying a bit of “I told you so” moments on Twitter. At the same time, on the other side of the fence, cryptocurrency experts have been telling people – keep calm and crypto on.

As many of you know, domain names is my thing not cryptocurrency so this is all new to me. That being said, I’ve been interested in Ethereum lately and am thinking this might be a good time to buy. At the same time, I’m always a bit concerned about buying something on it’s way down and it really is hard to know if this is a blip in the radar or the beginning of the end.

What do you think? Is now the time to buy Ethereum by the digital bucketload or should newbies like me sit this one out and just follow the action on Coinbase?

 

{ 16 comments… add one }

  • Sean ottey July 17, 2017, 12:30 am

    Not only is my holding at 20% ETH and 80% fiat, I am buying on these dips. The tech is there. Ethereum is a technology while Bitcoin is just a currency.

    I have ETH sites and a podcast not just because I am invested financially but also invested technologically.

    HODL!!! 🙂

    Sean

    Reply
  • asset.domains July 17, 2017, 2:30 am

    yes, seems a good time yo buy some ( or wait little bit and see)

    Reply
  • max July 17, 2017, 3:25 am

    It is a good time to buy. Buy with what you can afford to lose.

    Reply
  • Raymond Chai July 17, 2017, 3:37 am

    Buy now if I were you! It’s only money if you lose…..no gamble no gain…..

    Reply
  • Ram July 17, 2017, 3:58 am

    Wait till August 1st, something big is happening with Bitcoin that will have a huge effect on cryptocurrency.

    Reply
  • Joe July 17, 2017, 7:36 am

    This post gives me wings to buy two domains. Com from your first post to write Ethereum follow your progress and project I think it will be a great competitor in a campaign of virtual economy of great and good consequences for the future.

    I leave aside tomorrow in this vital issue for people, and business online.

    Reply
  • larry July 17, 2017, 8:10 am

    Morgan,
    I noticed in a previous post that you were going to try and mine ETH. Has that changed your plans. at what eth price have you planned to be break even.

    Reply
  • John July 17, 2017, 9:11 am

    The big question is what are the best and legitimate exchanges to buy these things?
    They looked great to trade years ago, but some exchanges had problems.
    Write a future post on exchanges, regulations, fee structures, settlement, etc.

    Reply
  • Mike Carson July 17, 2017, 9:18 am

    yes it can be dangerous to try to “catch a falling knife” but I think averaging in over weeks or months is safe. Also, the best time to buy is when the price levels off and forms a base, and things quiet down in the news.

    Reply
  • @domains July 17, 2017, 9:45 am

    I don’t like that ETH isn’t capped, they can make as much of it as they want. Unlike bitcoin and litecoin that have a fixed amount. Though I know you can do more with ETH.

    Reply
  • Cate Colgan July 17, 2017, 10:52 am

    I’m buying more Morgan – as you well know you can’t time the market – here’s a great Medium post I think you’ll enjoy – very well written/history – https://medium.com/indian-thoughts/a-brief-history-of-blockchain-an-investors-perspective-387c440ad11c

    Reply
  • Mark Thorpe July 17, 2017, 11:24 am

    I do not like Ethereum and I am Canadian.
    Buy Litecoin, it’s a better version of Bitcoin.

    Reply
    • Morgan July 17, 2017, 9:57 pm

      @Mark – interesting…why do you think Litecoin is better than Bitcoin?

      Reply
      • Mark Thorpe July 17, 2017, 11:41 pm

        I look at Litecoin as a polished Bitcoin. Both more of an asset than a currency. IMO
        They are very similar, other than their overall mining process. But their mining process at the core is somewhat similar.
        Litecoin takes less overall power to mine coins than Bitcoin does, LTC has more coins available to mine than BTC, LTC coins are mined faster than BTC and Litecoin has an actual creator behind it. Bonus.

        As for Ethereum, I see it being more centralized, rather than decentralized like LTC or BTC are.
        I do not like Ethereum having Unlimited Ether coins. To open-ended. IMO
        But Ethereum’s underlying blockchain technology is probably better than LTC and BTC.

        The wild card coin is Ripple, IMO. The pure payment network.

        Reply
        • Mark Thorpe July 17, 2017, 11:47 pm

          Litecoin has already soft forked successfully too. Who knows what will happen with Bitcoin.

          Reply
        • Sean Ottey July 17, 2017, 11:54 pm

          While I do love Litecoin (LTC), and while it is holding much better than Bitcoin (BTC) or Ether (ETH), it, again, is simply a currency. Ethereum, as a platform, can be so much more. And, distinct fro the other ICO’s (Initial Coin Offerings) out there, Ether is really the only currency on a platform where the platform itself is producing real products (Ethereum Name Service, iDice, many multi sig and health care record offerings). This is why I am bullish on ETH regardless of it’s current price or market cap.

          Ultimately, BTC is the big boy (i.e. Verisign), and ETH is a newcomer (.CLUB), Litecoin is a more nimble but less powerhouse currency (.XYZ). In the end, BTC is .COM, there others are nTLDs.

          That said, ETH is absolutely not a .KITCHEN. it is, at the very least, a .VIP

          My .02 analogy.

          Sean

          Reply

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