Everyone is extremelly bullish on EOS being the next Ethereum and what so not... Where was everyone when EOS was 4$? That was the time to be Bullish!
Everyone has FOMOd into EOS, it's severely overbought and overhyped, bunch of HODLers telling you to go long there, is it really a good idea? Yes, i also think long term, EOS could LIKELY do what Ethereum has done last year, but it won't go there in a straight line! I believe there will be a 50% correction. The falling wedge and what so not they spotted on EOSBTC is pointless, majority of the trading is done versus USD and the EOSUSD is a perfect bubble-pop scenario. Compare it to Bitcoin at 20K.
Despite everyone LONGing, i'm opening shorts.
Everyone has FOMOd into EOS, it's severely overbought and overhyped, bunch of HODLers telling you to go long there, is it really a good idea? Yes, i also think long term, EOS could LIKELY do what Ethereum has done last year, but it won't go there in a straight line! I believe there will be a 50% correction. The falling wedge and what so not they spotted on EOSBTC is pointless, majority of the trading is done versus USD and the EOSUSD is a perfect bubble-pop scenario. Compare it to Bitcoin at 20K.
Despite everyone LONGing, i'm opening shorts.
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This is a guaranteed win, judging by the saltiness of your comments guys. You seem to be emotionally attached to your bag and are now defending your position("but, but, mah airdrop", "but but mainnet launch?". I hope i am wrong, but this was not natural growth, those of us who bought a few weeks earlier have taken the profits, will wait for this to collapse and buy back the bottom.
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Update; this is not a guaranteed win. I thought about this for awhile, and there is a possibility this continues to go higher. I am pretty sure it will, the question is whether will it correct 50% first, or will it go straight up?
EOS is having a year-long ICO and i'm pretty sure "whales" have accumulated giant positions, the token has held the price relatively well during the bear market, despite the on-going ICO. It will be hyped up(it already is) to be the "next Ethereum". EOS has Brock Pierce as a "promoter" and he's pitching his ideas about ikigai and how the current system is flawed and how EOS fixes this with system of aligned interests. It's like a cult.
There is a lot to it though and i like the EOS architecture, but there is someone behind this, milking the situation, pumping the price, getting more people to believe in the idea and buy-in, "better Ethereum", a lot of airdrops... This is a potential honeypot and a pump machine.
I still think we could dump, but i'm out of the trade and will buy the dip in that case.
EOS is having a year-long ICO and i'm pretty sure "whales" have accumulated giant positions, the token has held the price relatively well during the bear market, despite the on-going ICO. It will be hyped up(it already is) to be the "next Ethereum". EOS has Brock Pierce as a "promoter" and he's pitching his ideas about ikigai and how the current system is flawed and how EOS fixes this with system of aligned interests. It's like a cult.
There is a lot to it though and i like the EOS architecture, but there is someone behind this, milking the situation, pumping the price, getting more people to believe in the idea and buy-in, "better Ethereum", a lot of airdrops... This is a potential honeypot and a pump machine.
I still think we could dump, but i'm out of the trade and will buy the dip in that case.
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Have a tight stop-loss at break-even.
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Just to update, i'm out of this trade. This will break out soon, i think it's likely to break up so i'm not going to take any chances.
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Should have stayed loyal to my original story. It held the price so well, i was worried it was gonna break upwards so i did not dare to short. $128M EOS long liquidation on OKex.