alexametrics

WARNING!! EXTREME FEAR AS BITCOIN SITS AT CRITICAL SUPPORT! Why I'm still bullish....

cryptocurrency 3 months ago
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✅ Follow EllioTrades on Twitter: https://twitter.com/elliotrades ✅ Follow Daton on Twitter: https://twitter.com/DecentraThought Is this the calm before the storm? It definitely feels like the markets are in a state of lethargy, waiting for a new catalyst to set the next trend. There are several factors responsible for the current uncertainty: The still-unfolding Evergrande crisis. The stalemate in US congress and the looming debt crisis. The anti-crypto infrastructure bill set to be voted on this Thursday. The fear of imminent SEC enforcement actions as well as proposed stablecoin regulation. You can see, the list of items leading to fear in the markets is long. On the other hand, there are not many "acute" positive catalysts that could turn the markets bullish in the short-term – without (at least some of) the FUD elements being resolved. While we expect most if not all of the fear-causing factors to pass by sooner or later, we need to be patient at this point in time. These "dull" periods in fact provide fertile ground for crypto projects who now get more "quiet" time to put their heads down and build. Just because prices are not shooting up in the short-term, Ethereum researchers won't stop until ETH 2 is shipped, L1s will keep innovating and particularly in the NFT gaming space we will soon see the fruits of months and years of development! If nothing else, now is a great time to keep up to date on new projects and important innovations as well as accumulate your favorite projects. Some hopium during uncertain times: The longer a consolidation period lasts, the more explosive the following price movement generally turns out to be. This would also hold true if we were to experience a “double bubble” bull market – with last January’s and February’s run-up only being the warm-up… Of course, in order for this to happen the market structure will have to change in the coming weeks and months, but the crypto markets have proven time and time again, that they can switch from choppy consolidation to bull market in the blink of an eye. #bitcoin #cryptocurrency #ethereum DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR
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