NY Times article on Ethereum

I am not a big fan on simply making posts linking to news stories from other sites or blogs, as it seems many other sites tend to do. Instead, I prefer to actually try to provide new and insightful information in my posts, but in this case I think the quality of the article, as well as its source, is definitely worth mentioning.

Nathaniel Popper of The New York Times penned an interesting read on Ethereum titled Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s that I think is well researched and written.

For Ethereum fans it is great news as the NY Times has a very large readership and this is sure to help put Ethereum into a more positive light as well as potentially offer more exposure outside the typical cryptocurrency community.

It seems traders may agree, as early reports of the article’s appearance has led to a rise in the price of Ethereum after it has spend much of the last few days in a downtrend. The timing of the price spike seems to correlate with the release of the article as the rise occurs shortly thereafter.

Ethereum_Price_3-28-2016

It should be interesting to see not only the short term impact this news has on the market, but the longer term ramifications as well. Many people feel that the entire cryptocurrency community is still very isolated and more outside interest would be very much welcome. This is especially true in regards to much of the negative news that has been surrounding Bitcoin recently with its block-size dispute. The article does acknowledge this aspect and even hints it may be a factor which is helping driving interest in Ethereum.

2 Comments

  1. Interesting “coincidence” (?) of that article. It published just as the Ether/USD price chart was completing a large head and shoulders pattern and was teetering on the tail-end decision point. It gained 20% in the next four days, only to slide down 30% over the next ten.

    A great service Crypto Yeti could provide is “trader sentiment analysis” that would find out from buyers and sellers what made them jump in/cash out when they did.

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