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PRO_Indicators
May 15, 2022 6:03 PM

BRIEFING Week #20 : Price vs Value & Derivative Markets 

Bitcoin / U.S. dollarBitstamp

Description

Here's your weekly update ! Brought to you each weekend with years of track-record history..
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Kindly,
Phil
Comments
XTZ69
I have been following you for years, and always look forward to your content, but my personal impression is that you have really gone way too far down the rabbit hole lately as far as the real VALUE of cryptocurrency as a whole. There was one video that you put up on YouTube about 6 months ago and then removed? where you ranted on about cryptocurrency in a very futuristic and surreal type of way. While enjoyable to listen to, it felt like the ramblings of a man who was either delusional or way ahead of his time, not that of a trader. You talk about value, yet it is sentiment and speculation that drives price in this space far more than value. Value seemingly appears from thin air and then evaporates as fast. I have watched absolute shit be valued far higher than what it should be, doge comes to mind, but there are so many other examples. You ignored and argued against correlation, yet that does not seem the case and never has been in my personal opinion. Perhaps your greatest weakness was to ignore how fundamentally irrational the cryptocurrency market still is, as it is not driven by value to the degree you would argue it is or should be.
Spellbound
Really love your videos, one thing that's apparent is the collapse of the EURO and global debt imploding. Regardless of what the charts are saying the macro picture is bleek.
UnsungTraderTV
I don't think there is a crypto bottom until there is capitulation in NASDAQ. NASDAQ not done in 2022.

Most crypto tokens are just startups that skipped the IPO process. Most companies fail. Most cryptos will continue to fail. Technology adoption timelines are very long. We are really only five-ish years into smart contracts. No one knew what they were doing with ETH until 2017 and those apps were not impressive. Crypto price does not indicate technological progress. We probably need ~10 more years before any blockchain / smart contract tech is actually used by a broad audience. A killer app could accelerate progress; i.e. a popular, usable Twitter competitor.
UnsungTraderTV
Feel better. Get some extra sleep.
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