Quote from: misterbigg on March 17, 2017, 10:33:48 AM

Quote from: HabBear on March 17, 2017, 05:20:03 AM

Don't take this the wrong way, but you gotta read the news more often. Major US corporations in Tech and Wall Street announced an alliance project based on the Ethereum platform. That's the single piece of news that cause this run on ETH.

Here's the article: https://www.nytimes.com/2017/02/27/business/dealbook/ethereum-alliance-business-banking-security.html?_r=0

These businesses are building private solutions using their own forks of Ethereum. How would this affect the price?

Because this decision by "these businesses" represents a major endorsement of the Ethereum idea, application of the blockchain, and platform. And the Ether represents shares in that movement, although I know it is not legally or physically shares in anything more than the currency Ethereum is using for entities to interact on the platform.

If the Bitcoin ETF had been approved we would have seen a run up of Bitcoin directly correlated to that news.

Investors buy on the news (either real or speculation), and that's what's happened with ETH.