Is TRXBTC Headed to All Time Highs? (Elliott Wave Forecast)
TRXBTC is hitting my forecasted October Elliott Wave time target and we are also getting multiple buy signals including River Theory, an alt bat harmonic, Momentum/Acceleration divergences, a bullish divergent price bar on the monthly, and volume divergences. Many long-term holders have also started to become irrational and capitulate as TRXUSD hit extremely low prices which it has only seen for 10% of the time it has traded, making it very cheap at these prices and likely to increase rapidly as they start to FOMO back in at higher prices.
Fundamentally, TRX is far superior to BTC, it is near instant, very low fees, scalable, has Turing complete smart contracts, cheap to develop on, has a huge dev and user community, has uTorrent and Opera for User acquisition (300M MAU), has strong leadership and vision, very low inflation, and has killer dapps like Bittorrent and WINk.org, both of which will likely perform extremely well in a bull market. Bittorrent will be the main utility for storing data on the internet, and WINk.org is the largest dividend producing dapp which is actually an entirely new asset class of income-producing crypto-assets. None of these innovations are possible on the BTC blockchain because it lacks Turing complete smart contracts, instant confirmations, scalability, and low or no fees.
The sheer lack of innovation that is happening on the BTC blockchain paints a bleak long-term picture when compared to innovative cryptocurrencies like TRON. While BTCUSD is likely to increase long-term, it will severely under-perform compared to most other cryptocurrencies in the long-term, especially as scalability becomes a bigger issue and transaction fees start reaching over $10 again. People who ignore these fundamentals now, or who simply do not understand what is going on and are just following the herd into BTC will likely regret not buying these "shitcoins" now.
Fundamentally, TRX is far superior to BTC, it is near instant, very low fees, scalable, has Turing complete smart contracts, cheap to develop on, has a huge dev and user community, has uTorrent and Opera for User acquisition (300M MAU), has strong leadership and vision, very low inflation, and has killer dapps like Bittorrent and WINk.org, both of which will likely perform extremely well in a bull market. Bittorrent will be the main utility for storing data on the internet, and WINk.org is the largest dividend producing dapp which is actually an entirely new asset class of income-producing crypto-assets. None of these innovations are possible on the BTC blockchain because it lacks Turing complete smart contracts, instant confirmations, scalability, and low or no fees.
The sheer lack of innovation that is happening on the BTC blockchain paints a bleak long-term picture when compared to innovative cryptocurrencies like TRON. While BTCUSD is likely to increase long-term, it will severely under-perform compared to most other cryptocurrencies in the long-term, especially as scalability becomes a bigger issue and transaction fees start reaching over $10 again. People who ignore these fundamentals now, or who simply do not understand what is going on and are just following the herd into BTC will likely regret not buying these "shitcoins" now.
Trade closed manually:
Wave-E is likely not complete yet, probably get another wave down until January
