Earlier this year I wrote a post about cryptos saying that they’re big, really big. I still believe that, technology has a good chance to disrupt in many fields. Even though the timing of that post wasn’t the best, my long-term views didn’t change much when it comes to bitcoin. We can see that more and more very important companies are getting into the space, they’re investing not only in bitcoin but the underlying technology as well.
But what does this mean for the price action? Sentiment has changed a lot. Greed is not present anymore. Neither is fear of missing out. But there are still a lot of terrible projects that have been funded with ICOs and are still behaving very irrationally. I’ve been tweeting about this quite a lot and I’ve been expecting ether to under perform bitcoin. Exactly this has happened so far.
Regardless, I’m getting some signs bitcoin might be getting closer to the end of the current bear market, but this doesn’t mean the pain has to end immediately. There’s still a very serious risk we could see yet another leg lower. Read More