EthereumLong
A battle for the future with the Crypto-Lemmings
This self-explanatory chart is here to get a grasp on the psychology of the crypto-market.
The FUD-fuel "Crypto-Winter" was nothing more than a long-awaited boom-and-bust cycle, something that old investors are quite familiar with. What they aren't familiar with, is the quick pace of this market: what used to take decades to settle down, is done in a mere 14 months in the Crypto-self-sovereign State.
Furthermore, given the very young age of this market, we have to take into account that most of the crypto-holders were inexperienced investors. They are prone to stress, to fake news, to FUD. Most of them invested a few hundred bucks in the last couple years, and suddenly became millionaires overnight. This is why the fakeouts are so big: they simply hadn't the guts to just go through it, let alone sell early. They are more of the iconic "buy high - sell low" lads, overall.
Some more experienced traders made them learn it the hard way, because it was so easy to push them out of this market with and through aggressive sells. "Sorry for your loss", the trader said, as he bought back everything at a discount.
The crowds are like a bunch of lemmings: once the first one jumps off the cliff, the others follows relentlessly. This is what happened in November, when the ultimate bear-trap has been set.
What will ensue is a short squeeze, fueled by theses very mechanics, which can be seen by anyone doing proper analysis and/or doing so researches on what cryptocurrencies actually are.
Hopefully, as Time goes by, peoples will understand that...
Cryptocurrencies are here to stay. There is no other technology like Ethereum, which enables decentralized computing, or Bitcoin, which is a decentralized store of value. This is a whole new kind of asset class, and plenty more things at the same time... And what the future holds might be even bigger than that.
We might see new cryptocurrencies in the future, some of them might be even more impressive than the current ones, much to the displeasure of Warren Buffet and Jamie Dimon (and no, JPMCoin and FacebookCoin aren't cryptocurrencies, technically speaking. A Google Sheet would be more efficient than their scamcoins. They could have done it on current ledgers, but then they couldn't cheat the numbers anymore because it would've been there for everyone to see the fraud.)
Banks have every incentives to kill decentralized currencies in its egg: if it becomes a thing, banks will simply and purely cease to exist.
"Bitcoin is not a currency because we cannot print it." - the European Central bank
Think about it.
The FUD-fuel "Crypto-Winter" was nothing more than a long-awaited boom-and-bust cycle, something that old investors are quite familiar with. What they aren't familiar with, is the quick pace of this market: what used to take decades to settle down, is done in a mere 14 months in the Crypto-self-sovereign State.
Furthermore, given the very young age of this market, we have to take into account that most of the crypto-holders were inexperienced investors. They are prone to stress, to fake news, to FUD. Most of them invested a few hundred bucks in the last couple years, and suddenly became millionaires overnight. This is why the fakeouts are so big: they simply hadn't the guts to just go through it, let alone sell early. They are more of the iconic "buy high - sell low" lads, overall.
Some more experienced traders made them learn it the hard way, because it was so easy to push them out of this market with and through aggressive sells. "Sorry for your loss", the trader said, as he bought back everything at a discount.
The crowds are like a bunch of lemmings: once the first one jumps off the cliff, the others follows relentlessly. This is what happened in November, when the ultimate bear-trap has been set.
What will ensue is a short squeeze, fueled by theses very mechanics, which can be seen by anyone doing proper analysis and/or doing so researches on what cryptocurrencies actually are.
Hopefully, as Time goes by, peoples will understand that...
Cryptocurrencies are here to stay. There is no other technology like Ethereum, which enables decentralized computing, or Bitcoin, which is a decentralized store of value. This is a whole new kind of asset class, and plenty more things at the same time... And what the future holds might be even bigger than that.
We might see new cryptocurrencies in the future, some of them might be even more impressive than the current ones, much to the displeasure of Warren Buffet and Jamie Dimon (and no, JPMCoin and FacebookCoin aren't cryptocurrencies, technically speaking. A Google Sheet would be more efficient than their scamcoins. They could have done it on current ledgers, but then they couldn't cheat the numbers anymore because it would've been there for everyone to see the fraud.)
Banks have every incentives to kill decentralized currencies in its egg: if it becomes a thing, banks will simply and purely cease to exist.
"Bitcoin is not a currency because we cannot print it." - the European Central bank
Think about it.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.