RE: A Look at the Charts - ETH, BTC and EOS - Oh My!

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A Look at the Charts - ETH, BTC and EOS - Oh My!

in cryptocurrency •  7 years ago 

Nice video. Technicians often disagree as technical analysis is not 100% correct.

I'm going to offer a different alternative.

You point out correctly that BTC would have a long way to fall to get to it's 200 day ma.
However fundamentally we disagree, as you mention 10k btc would be a buying opportunity at those levels.

I would argue that assets/ stock indices/ commodities that fall after such a rise are better buys, but are ultimately underpinned by real value and business', I think BTC will be replaced by a better option. Whereas copper or the S&P500 are not going to be replaced.
btcvsnasdaq2.png
I think BTC's chart looks like the DOTCOM bubble. I point out the similarities in the chart above. However unlike the Nasdaq, if BTC falls that far..
dotcomcrash.png
It's not coming back.

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Still true