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RE: Ethereum Classic (ETC) Target $61.03 (85% Profit Potential)

in #bitcoin7 years ago

Setting "targets" seems fake to me, you don't even set a timeframe. I could claim "Monero (XMR) analysis, $600 target (40% Profit potential).. Since, Cryptocurrencies are less inflationist than USD, Monero will eventually reach $600 and my analysis could be assumed precise for the wrong reasons.

Also you can't really analyze coins/stocks solely on graphs, If it was that easy everyone could write a bot to do it and become a millionaire , yet nobody does it.

In the end what matters is tech, what does $(SomeCoin) bring to the table? what new feature does it have? What competitors does it have? How active is development?

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If you have been following the analysis of Haejin you would notice that he is many times very precise. What he does is Technical Analysis and what you are talking about is called Fundamental Analysis. Many coins dont have a good dev behind and people still investing.
You want a time frame also? This is a prediction, not a crystal ball

You're right, what he does is technical. I'll guess I'll start posting my own Fundamental analysis :). Also, don't invest in coins just because other people are, currently anything that says cryptocurrency in its name is blowing up, as people want to be there for "The next bitcoin".

Of course, this is the same kind of thought that will make the market crash, make no mistake, this IS a bubble and the best way to avoid (most) losses is to know wether a coin is inovating or just copying.

A few examples are:

  • Bitcoin: First cryptocurrency (innovation)
  • Ethereum: First one with smart contracts (innovation)
  • Monero: First one with privacy by default (innovation)

So even after a crash, all these have real world usage and thus have real world value and make a great long term investment.

And you're not even paying attention! In the first graph, you can clearly see his $61.03 target point lands somewhere early April. Read the chart - it's all there. And, as @gabriel.tapiti says, you're confusing technical analysis with fundamental. Nothing here alludes to, or pretends to be, fundamental. And both approaches are equally valid, and each have decades of track record.

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