Monero / BitcoinLong
XMR/BTC
We have two possibilities for the future of crypto.
1. We are in the depression phase, where MOST cryptos will die.
2. We are in the first sell-off phase of the bubble.
I'm beginning to believe that #2 is more likely, since bubbles usually last several years. (look at the dot com bubble, for instance)
Crypto was really only in the eyes of the public from about October to December of 2017 and almost nobody that I know invested in it... Not quite a mania, just a lot of talk/hype.
In either scenario, Monero does NOT die.
It is still the only cryptocurrency with a use-case and has been by far the most resilient to the pumps and dumps we've seen, since institutional money starting entering in early 2017.
For this reason, I believe we will see it move similarly to Litecoin.
The usual 5 waves, as the Ellioticians expect, but with an additional 2 waves, to kill the shorts that are waiting to FOMO after the 5th wave and to bait the folks who lost faith, but are waiting for a bullish trend.
These algorithms are basically flawless. They effectively soak up the maximum amount of both sides of every traded pair.
The only way to make money in this market now, is to capitulate to that realization and understand that you can only win here if you are doing the opposite of the majority of traders.
1. We are in the depression phase, where MOST cryptos will die.
2. We are in the first sell-off phase of the bubble.
I'm beginning to believe that #2 is more likely, since bubbles usually last several years. (look at the dot com bubble, for instance)
Crypto was really only in the eyes of the public from about October to December of 2017 and almost nobody that I know invested in it... Not quite a mania, just a lot of talk/hype.
In either scenario, Monero does NOT die.
It is still the only cryptocurrency with a use-case and has been by far the most resilient to the pumps and dumps we've seen, since institutional money starting entering in early 2017.
For this reason, I believe we will see it move similarly to Litecoin.
The usual 5 waves, as the Ellioticians expect, but with an additional 2 waves, to kill the shorts that are waiting to FOMO after the 5th wave and to bait the folks who lost faith, but are waiting for a bullish trend.
These algorithms are basically flawless. They effectively soak up the maximum amount of both sides of every traded pair.
The only way to make money in this market now, is to capitulate to that realization and understand that you can only win here if you are doing the opposite of the majority of traders.
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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.
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.