I see consolidation following a high volume bullish break out from a six month long falling wedge.
Bullish as hell on $crypto and $ALTSpic.twitter.com/kkqdnFBzhN
Cryptocurrency Analyst. Bitcoin, not Blockchain. Angel Investor. Previously @Princeton.
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I see consolidation following a high volume bullish break out from a six month long falling wedge.
Bullish as hell on $crypto and $ALTSpic.twitter.com/kkqdnFBzhN
@MustStopMurad You may be right, $BTC hasn't hit the final bottom. But why should anyone even care?
There is TONS of money and opportunity to be made in the $crypto markets whether you will at some point be able to buy Bitcoin cheaper than $6000.
CryptoDog, this might not be popular for me to say, but from a fundamental perspective, alts are *still*, insanely overvalued. This gives me a bearish bias. There is no business for alts to be collectively worth >$100B, even nominally. Its pure irrationality in my opinion.
Taking the MC of each alt on face value is incorrect. It's been shown that the true MC is about 1/50th of what you see on coin market cap. The way their value is determined on CMC etc is flawed. The real liquidity and $ value in these assets is far lower.
agreed, hence I noted “even nominally”
Yeah I got ya, still hard to say X is overvalued at >100bn - even if value is invalid. Every asset in a bubble is overvalued, but we cant quote CMC MCs as a source of actual value and compare to other markets. Personally, I think the true madness is yet to come. Then 99% to 0.
the true madness is yet to come... in 2021
Potentially.. Novogratz has 2020 as 1999 parallel, could be right.
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