This is what I am most afraid of: OLD PROJECTS RISE FROM THEIR GRAVES
Technical Analysis:
- Bitcoin is on its way to 2.272 extension 200k after consolidation at 1.618 (Fib level based on market top 2017 and bottom 2019).
- Old project will at least try to touch 1.618 this market cycle.
- We have seen 6x FIRO from January to April 2021.
- In 2017, FIRO topped out at $180 which is 23x from here with the market cap of 550 million dollars.
- How strong fundamental FIRO was to reach half a billion dollar market cap in 2017 when crypto market was real wild west, untouched land.
- Most conservative price for FIRO is: $180 reach its ATH (2017).
- Reasonable price for FIRO is: $570 = 2.5x from its ATH (2017) = 1.272 Fib. Market Cap: 1.375 billion
- Not so reasonable price for FIRO: $2700 = 14x from its ATH (2017) = 1.618 Fib. Market Cap: 7.7 billion.
Fundamental of Technical. LOL
- The market cap of FIRO dropped from $550M to $37M. The larger it drops the bigger the impulsive wave is.
- People was so surprised BItcoin has reached 65k for the first wave of bull run. Why???
- It was because of COVID-19 March Blackswan. Covid has helped crypto space so much.
- It fuelled the run like crazy.
- This is also explained the human psychology which is the most fundamental factor for Technical Analysis.
Bottom line is price is the driver of the news and development.
Good luck to you all out there.
At least got some 1-2 FIRO so you don't FOMO in the future lol.
All of this is my very limited knowledge about the project. Please share your views in the comment.
Don't take my speculation for investment advice. You will be disappointed.
Do your own research.
Best of luck.
Technical Analysis:
- Bitcoin is on its way to 2.272 extension 200k after consolidation at 1.618 (Fib level based on market top 2017 and bottom 2019).
- Old project will at least try to touch 1.618 this market cycle.
- We have seen 6x FIRO from January to April 2021.
- In 2017, FIRO topped out at $180 which is 23x from here with the market cap of 550 million dollars.
- How strong fundamental FIRO was to reach half a billion dollar market cap in 2017 when crypto market was real wild west, untouched land.
- Most conservative price for FIRO is: $180 reach its ATH (2017).
- Reasonable price for FIRO is: $570 = 2.5x from its ATH (2017) = 1.272 Fib. Market Cap: 1.375 billion
- Not so reasonable price for FIRO: $2700 = 14x from its ATH (2017) = 1.618 Fib. Market Cap: 7.7 billion.
Fundamental of Technical. LOL
- The market cap of FIRO dropped from $550M to $37M. The larger it drops the bigger the impulsive wave is.
- People was so surprised BItcoin has reached 65k for the first wave of bull run. Why???
- It was because of COVID-19 March Blackswan. Covid has helped crypto space so much.
- It fuelled the run like crazy.
- This is also explained the human psychology which is the most fundamental factor for Technical Analysis.
Bottom line is price is the driver of the news and development.
Good luck to you all out there.
At least got some 1-2 FIRO so you don't FOMO in the future lol.
All of this is my very limited knowledge about the project. Please share your views in the comment.
Don't take my speculation for investment advice. You will be disappointed.
Do your own research.
Best of luck.