$ETH bulltrap is over, bubble about to burst

POLONIEX:ETHBTC   Ethereum / Bitcoin
short active at 0.0326
Comment: short closed at 3069 with nice profits made, looking for a higher entry again, or another clear breakdown
Comment: nice profits made here, closing my last shorts from the last breakdown of 295, to cash out some btc.
Comment: "this time is different" they said
Comment: this time ain't different it appeared :)))
ETH LONG price 0.3 btc=1 ETH
top picking might be painful - gl
+2 Reply
btc_joe sacrelege
agreed, to me it will coincide with btc bottoming, but not going to try to pinpoint it. But while i won't pick the top, still find it comical most of the eth fanboys won't acknowledge it is in a bubble that will inevitably pop.
I don't think current levels are overvalued to be honest. Yes the rise is sharp and corrections are expected, but it will rise and stabilize over time. Even the first time we went to $16 and then back to $7, doesn't seem too drastic to me, it was a clear bear trend with a little overselling at the end. But not a hard selloff/bank run type.. I think a lot of "eth fanboy name callers" expected a way deeper drop..

I like btc and eth. As long there is movement, I'm a happy trader :)
btc_joe sacrelege
I'm sorry if that terminology offended you, tbh I can be a btc fanboy at times but I am astonished by how far it has come and I do believe it's time is now--and the price will corroborate this over the next year or so. I do like eth, but I totally disagree, I only focus on its price relative to btc, which seems extremely least this early in eth's life cycle maybe not down the line. It has a lot more to prove in my book before these prices are justified, maybe this is debatable, time will tell, to say eth is going to take over btc in capitalization is not and laughable.
non taken. I don't know the future and opinions are often wrong. Therefore I'm not going to make assumptions if eth is going to have a bigger market cap than bitcoin or not. What I see now is, that it is strong, but I'm also sceptic if eth is a good store of value. It is the fuel for the network and can also be used as a cryptocoin. The smart contracts and the things that will be with it are interesting.. So it might be possible the cap shifts over to tokens or stuff like the DAO and so on.. only time will tell :)

Interesting dates are the end of DAO creation phase, Bitcoin reward drop, so I guess a lot of volatility ahead of us.

happy trading
btc_joe sacrelege
Not implying you have claimed that, but many others have in the midst of all the euphoria.
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