EtherCoin started of as a coin backed by a IPO. As soon as the word spread regarding the IPO many became cautious as the rate at which Developers vanish after receiving the funds generated by IPO’s had been steadily increasing. However with a dedicated development team and a successful IPO meant that the growth of the coin could continue in terms of technological development and market dominance.
As seen in the graph below for the majority of its lifespan the coin has been steadily surfing the markets at prices of 0.003. While this was higher than the prices offered at the IPO many early investors cashed out for a profit. However current prices of 0.014 indicated a price hike of over 10 fold. This is heralded as one of the biggest milestone to be achieved so far by the coin. The current 24 hour volume stands at over $40,000 leaving plenty of space for growth as the coin continues its rally.
Speculation
With the coin having proven that it has a significantly higher inherent value it seems the current rally may carry on as the markets adjust to higher volumes. A increased interest in the technology behind the coin has also given the momentum the coin needed to spark of the rally after a relatively long period of stability where little market volatility was encountered. A clear trend has developed in which price rises were pushed back down by negative market action. However it would not be advisable to purchase Ethercoin at the moment as it is in the middle of a rally which may last a few more days judging by the inflated trading volume. Current prices are much closer to the lower end of spectrum and may slip back any moment where more opportunities will be created for investors and individuals alike to cash in on the success of Ether. Currently it seems the momentum may carry the price of Ethercoin into the range of 0.016 – 0.0165 before a fall to previous levels is anticipated. Good luck trading and remember never to invest more than you can lose.
edit – Prices have fallen to 0.01345 as predicted.
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