Beware: ETH Declines WILL Continue
Having just completed an aggregate of $360k in Tezos, TenX, and Aeternity ICO's, and because I work for an asset management fund that handles alternative assets, I have spoken to several of the foundation board members and founders for 6 to 7 ICO's who will be offloading their raised funds, so there is going to be a huge flood of ETH coming back into the market in the near future.
By a huge flood, I mean roughly ~$175M is likely to be sold back onto the market over the next 5 months or so. I know roughly this amount for certain because that's what we have agreed to purchase otc and exchange for several recently completed crowdraises. Not sure to what extent other brokerages and asset funds will be helping convert these recent crowdraises.
ICO's are not slowing down, and the demand for ETH will likely continue in relation to the need for participation in future token sales. However, let me whole heartedly warn you $190 isn't the bottom, we will likely see closer to $100 when all is said and done. Our portfolio has a NLT price of $97.25, and we'll be slowly dripping roughly 950k ETH into various exchanges.
The supply curve is going to be thrown very out of whack with various companies liquidating their raised funds, regardless of how meritless and overvalued they are. These overvalued raised have provided myself, and several other analysts that I work with, great hesitation in the price action in the near future. This technology and protocol aren't going away anytime soon, I just genuinely don't want to see people get wiped out of their entire position by buying these recent pullbacks.
If you're a trader looking to rebuild a position, tread carefully as these insiders have already expressed their liquidation plans to myself and other firms as well, and and we are currently in the strategy and analysis stage of how to do so in the least disruptive way possible.
Sincerely, You Crypto-Asset Fund Manager
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