As we should all know by now... Fundamental Analysis always defeats Technical Analysis. TA is a byproduct of FA.
My current thesis (DYOR always...) is that 2020-2021 pump was a fresh leg in the crypto adoption cycle. Summer is the time to kickstart the economy once again after it fell flat on its face after the pandemic started. The powers that be (major crypto whales, exchanges, governments, etc...) control the market sentiment as most smart money has retail chasing positions always. They have accumulated such a large position % of overall market over a period of pump & dumps to catch retail fomo off balance that they stacked up major positions with capital. Even if they cash out or sitting in stablecoins for the time being, they still have the capital to move the market up or down. Bots follow...etc...
It is my belief that the market won't be bullish again until the fall / winter time as the global economy looks to grow healthy again. Travel, outings, tourism, sporting events, etc... need people spending money which they wouldn't do if the market kept going up and up and up. The summer time is the biggest "outing while spending $$" time of the year. I'm not talking about Xmas holidays etc... because many people now shop online... and that will also cost money so my assumption is that the markets will pick up again once people start going back indoors, especially if another breakout of covid happens off mutations and what-not.
The market momentum is completely psychological. And currently governments from Chinese and USA are majorly regulating and cracking down on the crypto exchanges. Think about your roads and when they get potholes etc... and eventually they need to all get maintenance. Same with crypto... it's got "issues" and from government standpoint, this needs regulation to continue to grow especially with so many major institutions focusing their wealth in these markets. So the timing doesn't seem to be out of place (with aftersight) under these conditions.
Ethereum I chose for TA/FA analysis because since the selloff it is recovering % faster than BTC... which may seem weird to some but to me makes perfect sense as that it has a lower marketcap, just as much utility if not more than bitcoin and price of coin is lower so is much easier to recover % faster. It's a no brainer.
Some alts may pump and dump. This is a build summer for blockchain tech so when the next bullish outburst happens, keep your eyes on the projects that have been focused on building and partnering with cross chains.
Always DYOR...
Cheers,
#CryptoKyle
www.kylerea.net
My current thesis (DYOR always...) is that 2020-2021 pump was a fresh leg in the crypto adoption cycle. Summer is the time to kickstart the economy once again after it fell flat on its face after the pandemic started. The powers that be (major crypto whales, exchanges, governments, etc...) control the market sentiment as most smart money has retail chasing positions always. They have accumulated such a large position % of overall market over a period of pump & dumps to catch retail fomo off balance that they stacked up major positions with capital. Even if they cash out or sitting in stablecoins for the time being, they still have the capital to move the market up or down. Bots follow...etc...
It is my belief that the market won't be bullish again until the fall / winter time as the global economy looks to grow healthy again. Travel, outings, tourism, sporting events, etc... need people spending money which they wouldn't do if the market kept going up and up and up. The summer time is the biggest "outing while spending $$" time of the year. I'm not talking about Xmas holidays etc... because many people now shop online... and that will also cost money so my assumption is that the markets will pick up again once people start going back indoors, especially if another breakout of covid happens off mutations and what-not.
The market momentum is completely psychological. And currently governments from Chinese and USA are majorly regulating and cracking down on the crypto exchanges. Think about your roads and when they get potholes etc... and eventually they need to all get maintenance. Same with crypto... it's got "issues" and from government standpoint, this needs regulation to continue to grow especially with so many major institutions focusing their wealth in these markets. So the timing doesn't seem to be out of place (with aftersight) under these conditions.
Ethereum I chose for TA/FA analysis because since the selloff it is recovering % faster than BTC... which may seem weird to some but to me makes perfect sense as that it has a lower marketcap, just as much utility if not more than bitcoin and price of coin is lower so is much easier to recover % faster. It's a no brainer.
Some alts may pump and dump. This is a build summer for blockchain tech so when the next bullish outburst happens, keep your eyes on the projects that have been focused on building and partnering with cross chains.
Always DYOR...
Cheers,
#CryptoKyle
www.kylerea.net