The correlations you draw here are quite laughable. Honestly, you think because a lot of people heard about a coin and pumped it to the moon due to hype is causing all of this in the market?
No. There are many factors at play here.
TRON fits a very small piece of the puzzle. Yes, TRON is overbought.
Yes, TRON was due for a correction.
Look now? The correction is complete? This coin will quietly gain steam now that we have approached the apex of the descending triangle.
I think the way you are viewing this situation is skewed. Especially when you say things like "outgained in 2017", which proves you arent acknowledging the whole situation (that Bitcoin has done the rags to riches scenario ALREADY, and each coin does it at their ownn time)
Sorry, I'm not trying to come across as a hater. I just find it hard to draw the same conclusions as you. Good analysis!
spif, thank you.
Honestly, if we've inspired your response, that's enough for us. Dialogue is important; disagreement is something we revere as important.
We DID say "it's best to provide more than one explanation for a volatile day"; in other words, we don't claim to have the ONLY answer, we're just suggesting that if you look at cryptoworld in general, and one of it's hottest performers is outed publically as a fraud, that can shake confidence in an entire market.
If you don't believe us, look at Warren Buffetted coming out of the woodwork to mock crypto this week-- an even which FOLLOWED the TRON fall. Maybe old Buffetted was having a conversation with Munger and Munger said "for instance, take a look at this TRON..." and then proceeded to use it as a proxy for all of crypto's hopes and dreams. We take into consideration EVERYTHING, and if there are examples of fraud, sometimes the babies get thrown out with the bathwater, NO? That's where the expression was born.
In your last paragraph, specifically we mean there are stages to the growth of a sector (or bubble). If you lived thru the internet stock bubble, you'd know this is true. Whereas the eBay's and Amazon's were the big performers in 1998 and early 1999, by the end of 1999 the best performers were stocks no one ever heard in late 1998-- stocks like PurchasePro and Ariba. Markets go thru phases, and bitcoin's phase is over, as proven by all the cryptos which massively outperformed it in 2017. The main crux of our article, is you SHOULD be looking for the next big thing in crypto in 2018, if you're going to be involved in it at all.
Why stick in bitcoin, even if $100,000 is the goal? If bitcoin goes to $100,000 you can bet there will be a whole new THEME of crypto which will VASTLY outperform that 500% growth in bitcoin price from it's December high. We are suggesting that a highly volatile performer like TRON is telling you something: The next phase in crypto is APPS. So much so, that even the ones which may be fraudulent (PurchasePro for example!) will rise with the tide, and probably moreso than the ultimate survivors.
So mostly our article is about timing, and about how the market is refocusing away from what worked in 2017, and onto what WILL work in 2018.
Thanks so much for your comment, feel free to rip our response apart too!