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RE: Ethereum Uptrend Remains Intact | ETHUSD
Do you really think ethereum will keep skyrocketing?? I have reason to believe that it has the most to lose same with ripple because of the exponential growth out of nowhere basically.
Do you consider Ethereum expensive at $290?
Then what do you think of Byteball that trades at $768.59.
We had a retrace of 61.8, pretty normal, and the fear was palpable at $200. Many people were thinking of cashing out the Ether and hibernate. I think that one of the best indicators of the crypto market is really sentiment based on social media. When fear is abound, you do take note of it on twitter and youtube. When hype is abound, google trends is your friend as a leading indicator for a price reversal.
Do I think it will keep skyrocketing? Maybe, but I think that the top is not $400 and if the channel maintains, then we will see $1000. On the daily TF, we have hit support with a healthy bounce, so far, it may change though, but if we close today above $260 then the uptrend remains in play.
"Exponential growth out of nowhere basically" ??? Most cryptos have displayed bubble behaviour, exponential moves throughout their history. A couple of exponential moves before hitting $1, a couple times more before hitting $10, and so on, but it never seems to crash completely, this, because if we discard fundamentals and look only at the charts, then know that we're dealing with FRACTAL patterns. It can be highly illusive.
So the more pertinent question is, How much exponential can you get before hitting the true ceiling? And that's a great question indeed. 200k targets aren't out of the question, afterall if we are in a bubble, then know that at the height of tulip mania, 1 tulip would buy you a house by a canal in Amsterdam. That's 1 flower, for a house!
#buythedeep