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RE: Quick BTC evening update 18.02.18
Unique TA on Steemit that doesn't assume the price will every time grow, thank you for it. I don't know advanced TA, but it's interesting to follow technical analysts to complement my personal fundamental analysis.
These days I don't buy anything, I even have sold some coins (assuming strong correlation among cryptocurrencies) - concretely LTC, IOTA and DATA and I will buy on price level about 70% of current prices.
According to your analysis, I should buy on the higher level...
My opinion is that fundamentals are completely useless in cryptos. Otherwise dogecoin should not be worth more than 1 cent because it is a funcoin and only a funcoin without any use. I have several more examples proving fundamentals irrelevant.
Thank you so much for your TA, I love how the news often follows the charts and not the other way around. I do think fundamentals are a major factor although not the sole driver of sentiment, otherwise BCC would still be $300 lol. Doge (fun) coin has brand recognition and the entertainment industry is huge so people are investing in trends. In that way Doge rising makes fundamental sense.
I don't think so...all right, technical or psychological analysis makes sense in short but in the long-term majority of investors (or rather speculators) will recognize good coins and bad coins...and whoever won't recognize he will lose money...
I think we're in too early stage of cryptocurrencies to make a conclusions. In this stage it's all about expectations (it reminds me e.g. Tesla).