So, why do I among all people agree that crypto is in a bubble that is no different than others ? It's simple! The number one reason is that the people who are calling crypto market a bubble are the very ones that created it in the first place and they know it! It is the investors and speculators who inflated BTC prices past 1000$, not the real crypto community! Where does this money come from ? It is not real cryptoanarchists and blockchain enthusiasts who did it, the true crypto community never had that capital LOL. Think about that for a while!
Many claim there is much more fundamental value to blockchain than to the tech bubble, while this is probably the case crypto is still in a, WHAT!? a bubble! As I said in my previous post, everyone in the crypto space gets so emotional when people call it a bubble!
We really need to turn on some introspect in the community and realize that the largest percentage of investors that inflated BTC past 1000$-ish lack fundamental understanding of the true potential of crypto and the distributed public ledger. Yes! 90% of crypto investors who inflated bitcoin past 1K$ are NOT real crypto beleivers and crypto nerds!!!
We need to wake UP, they are NOT the REAL HODLERS like the rest of the community. So don't let them wash your investments away when they continue taking profits or cutting losses! Do you really think the original crypto community ever had this kind of money ? No. The answer to this bubble is as simple as that.
Most of those high profile speculators have no basic understanding of distributed ledger and concepts that are powering bitcoin and other cryptocurrencies and they are not at all zealous about what those technologies represent for our society.
This being said, I am afraid that most of the money that entered the crypto space will exit through the same doors and only after the weakest hands are shaken off will we see prices skyrocketing and coinciding with the real global adoption of the blockchain tech.
In the next post I will be going through some simple TA on BTC weekly charts on the log scale and projecting the downward trend to 3K$ levels.
Please note this analysis is for educational purposes and a warning to the crypto community(so do upvote and resteem please). This is not a trading advice, I am not an intraday or a short term trader. DYOR!
Take care.
operater, out.
Ha the Cheetah bot linked to your own material.
I like that you mentioned DYOR right at the end, its mentioned ad nauseum on stock/shares message boards but i hardly see it mentioned in the crypto world. Keep the articles coming.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.tradingview.com/chart/BTCUSD/zlCbOxlF-Shedding-light-on-crypto-bubble-dilemma-BTC-to-test-3K-levels/
Thank you robot, that is my very own post on tradingview. For anyone interested you can also follow me there: https://www.tradingview.com/u/janjnv/