… if I use the words of Mark Yusko and make them a bit more general. Not that I don’t believe in bitcoin, but I think the whole asset class is here to stay and disrupt. Possibly big time!
While a lot of people are saying bitcoin is a scam, one should buy puts on every crypto, and while there are many ICO frauds, I am not so sure about the negative outcome for the asset class as a whole. I don’t want to go over all the reasons why, but I think it has a lot to do with the same reasons as why the stocks are in a bullish trend, e.g. money is super cheap, we could be in the beginning of a secular bull trend (see my post from Sep17, Why are you so pessimistic?), etc.
But there is another one which could push the prices higher. Continue reading “Cryptos are big, really big!”
In the last couple of months Bitcoin took all the spotlight and it was well deserved. Man, the run Bitcoin had was probably unthinkable even by the most wild crypto bulls. While it still could run higher, maybe a lot higher, it could be time for Ether to take the turn and outperform.
Why not, we’ve seen a crazy rally in Bitcoin, a pause therefore wouldn’t be surprising and it wasn’t uncommon for them to take turns. On the other hand Ether is consolidating early 2017 gains for approximately 5 months now, but what’s nice is that it recovered very well after yesterday’s negative news and the bulls were able to reclaim $300 level and as of writing it’s trying to reclaim a very important $310 level.
From the chart below we can see that the last time ETH/USD rallied was alongside the ratio ETH/BTC or in other words in time of ETH’s outperformance. Similar happened in early 2016 too! Continue reading “Time for Ethereum’s turn?”