Bulls are trying to push up! Why?
Some people might acuse me that I comment bearish. No, I am not! I am bullish, but not now! I am bullish for the real price of the coins, that is still not comming. Let me be clear. If you watch the market, you can see not only the engineered pumps, but also OBVIOUS buy offers for a million and more, that are pushing the price up. Or at least they are trying. The biggest problem now is that more and more people are affraid for the market reallity. Most of my friends are still bullish, but the new commers who have not lived here during good times are not that sure anymore. I will give you some examples why people are hesitant. Well BOEING shares gave 200% for 2 year. I am not happy I wasnt part of it. There aircrafts are flying every day, you can see that through the window. Apple shares are comparable in price with NEO. Millions of people use devices of Apple and APPs of Apple every minute. Well, gains are not that big, since you can not pump the regulated market in such way for 6 000%. Market CAP of NEO is 8 Billion right now. Have you ever heard someone using NEO in real life? Somewhere? WTC is already 810 million. Do you know a retailer using their RFID yet? Have you seen some on your clothes from China? I believe in those tech, but actually you can fully equipt a factory for such chips for maybe 200 million. Do you need blockchain to check you clothes origin? Sure not. Retailers yet have cheap and good systems to do it with barcodes. In the future it would be chips, but when it is cheap enough. Why would be pay 600 million premium to Walton until they even do not have a product. AND EVEN it is expected that the price of WTC and NEO will rise between 500-1000% for 5 years! REALLY? It might be if newcommers come and trow their money on the market. I will be happy, you will be happy, but whales will be happier. And the happies will be the...EXCHANGES. Last years revenue of COINBASE is 1 billion!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ONE BILLION revenue for an internet site with hired servers!!!!!!! It is more than the profit of many banks! What about the others? JP Morgan and mates own half of the EARTH, but still they are proud that they will invest next year 20 billion in different investments. ETHerium Market CAP is 97 billion right now. It is the cost of 27 250 000 acres of good land on prices arround the globe! So many acres can feed half a continent. And THOSE prices of coins are CHEAP according to many guys arround! REALLY? They should have grown up 5 times! I really like to hear some comments on that. Still, the big winners are the whales and exchanges. They are not willing to put the prices down. If the price of the coins go half, COINBASE will loose 500 million a year. It is quite and incentive for market manipulation. But it counts for all exchanges. At the end - The price of the ETH might go up the comming days, but later it should go down. Otherwise the Bubble will burst soon or later and many people will be damaged.
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.