Honestly, the decline in Ethereum's price isn't what one calls fun, but it's really nothing to lose sleep over. Of course, I took note of the sell-off by an ICO participant who moved 6,000 ETH into an exchange in light of the broader market's dip, but I have seen this before.
Whenever a "0xBF4"-sized whale dumps tokens, panic is always there, but I really don't think that it is a Sign of doom for Ethereum in the long term. Big players have their timelines, and certainly, that may shake up the smaller investors, but it does not change Ethereum's potential or fundamentals.
I have been through Enough market cycles to know that such sell-offs can be part of the game. People are nervous, and sure, Ethereum could go even lower before it bottoms out.
Could it reach 1,600 dollars, as some speculate?
Maybe.
But I am not abandoning ship because that would mean that Ethereum's development ecosystem, its transition to Proof-of-Stake, and ALL the projects building on it suddenly changed due to one wallet Moving assets.
Even if bearish sentiment is taking over, I'd rather keep my focus on what's ahead. Long-term, Ethereum has more going for it than a few whales selling off their holdings. The price will rise and fall, but I believe in the broader innovation happening here.
These downturns? They are part of the process.
Posted Using InLeo Alpha