One rally that is different in history

in cryptocurrency •  7 years ago 

There is one stark difference between this BITCOIN/Crypto currency rally and other asset rallies. Lets compare this with closet cousin Internet or dotcom rally. In these earlier rallies RETAIL comes last in the party.
In all almost all rallies or before any rally kicks in its INSTITUTION that first identifies opportunity, does all analysis, meet all important stakeholders, takes time and builds position. Time and again this is what happened in history.
Now this BTC rally is so different. Its exactly opposite. Institutions are just slowly understanding and getting into this party. Or lets call it the party has just started...
So one caution should be we should not follow or use conventional wisdom or conventional tools to measure or speculate this run. Maybe hence we should not be too worried what the charts of BTC is saying. Every season trader expected rally from 5th feb and booked profit the moment it crossed 100 EMA/SMA. The reason all tradional rallies will fizzle out will come down build a support and also it has to create that second shoulder to complete the head and shoulder. So most are expecting this rally to come down to 9000 level break it complete head and shoulder and then spend some time before the rally builds... well may be these concepts will not work out so good for this wonder asset which is neither backed by anything nor have any dependence/correlation with any other asset its unique.
I expect to show unique properties and behavior..
Let me know your views/comments on this observation..

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!
Sort Order:  

Congratulations @priyanka11! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got a First Reply

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

Upvote this notification to help all Steemit users. Learn why here!