RE: Is the Coinbase Index Fund good or bad for the Cryptosphere?

You are viewing a single comment's thread from:

Is the Coinbase Index Fund good or bad for the Cryptosphere?

in cryptocurrency •  7 years ago 

Hi @cryptoissweet. Thanks for the upvote and follow. Obviously, nothing I say is financial advice. I do spend a lot of time monitoring the markets and from a technical analysis perspective I feel it is looking bad and I would expect prices to drop further. My own general viewpoint on the market outlook is I feel Bitcoin went from $5k to $20k far too fast to be anyway representative of Bitcoin's utility value so now the price is dropping gradually in a process of value discovery, serving to wash out some of the speculators who are purely into crypto for #moon or #lambo purposes. Long-term (talking in months & years timeframes), I feel the price in USD terms will continue it's uptrend provided nothing out of the blue will displace Bitcoin.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!