OmiseGo / Ethereum Looking Swweeet
OmiseGo should outperform Ethereum in the next couple of months. The Stochastic momentum indicator is falling into place as well.
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At this point everyone is buying Ethereum because it's going up too fast. What is your suggestion about it?
Everyone's buying Ethereum to buy the tokens. There's going to be waves of buying for the next couple months, year or 2 until the hedge funds are done and top out when grandma and grandpa down the street are in and the tokens / currencies. There's still room for 10x overall from December. Paul Tudor Jones said that all you need to look at is the 200 Day SMA.......... price is above GOOD.......... Price goes below BAD.
Alright, for Ethereum they need to wait long for profit, there are many coins growing fast. I am confused what is going on with crypto.
My own thoughts for what it's worth. We're seeing a good old fashioned bank run, right in front of us and 99% of the population don't see it. The money's flowing from the legacy (corrupt) banking / financial system to the new peer to peer system called block chain.
That's the point i wanted to explain the world, People even don't know how these currencies work, They are just interested in profit and get loss after that sit back and bark that crypto is Shitt.
What is ironic is I've been saying for months that once I hear grandmas talking about their crypto in regular conversation it's time to get out of dodge! Well, I was at a diner on Wednesday and there were two grandmas in the booth next to me talking about their bitcoin. The booth on the otherside of me with two middle-aged men talking about their cryptos.
Only thing is, I just can't think this is the top already. It would be the shortest investing bubble in history. If it's even remotely like the internet bubble was 2018 should still push us much higher before we see the aggressive pullback to realistic prices.
And I don't think crypto is just a bubble, but I will trade it that way :-)
That is a little disturbing isn't it. I've been looking at this whole thing in different ways, one way is in terms of market cap.
The currency market cap Total Market Cap: $665,490,681,638
The token .........................Total Market Cap: $74,560,874,546
I suspect the future isn't necessarily the currencies but it's the tokens and how the peer to peer smart contracts will embed itself in society. 74 billion for the entire world market isn't that much really. The gold market is a small in terms of supply at 8 trillion compared to the bond market that is simultaneously someone else's liability. Tops are an evolution over time, I suspect there's room for the entire market of maybe 10x yet. After that, hard to say. The patterns I've been looking for come and go like is it a double top or is it, an ending diagonal, corrective abc.....
For me the moving averages are key at different time frames are probably the most important.
At Christmas, I happened to bring up the crypto subject and the feed back was pretty much -0- and one of them was in university taking programming of all things.
The past is prologue, history will tell us the future. I suspect we're in the topping phase but could last longer than anyone suspects.
One thing to keep in mind is perhaps a totaly different way to look at crypto......... 2 worlds ......... the crypto world and the fiat or legacy world. You have to pick one or the other, you can't be jumping for one world to the other. The legacy world = Money is a medium of exchange in the form of coins and banknotes; coins and banknotes collectively....... The crypto world is = medium of exchange in the form cryptographed digital peer to peer smart contracts. The next generation of wallets over the next year will be able to take care of all of the complicated stuff involved with moving crypto around without it getting taken from you and easy medium of exchange.