Continuing on the current trend, ETH will continue to grind higher against BTC.
This is simple math:
Bitcoin issues nearly $10 BILLION per year to pay miners.
Ether burns (effectively buys back) $100M/yr by contrast
Long ETH is the idea to $2350 minimum.
Sauce:
The overall sentiment about AI is wildly disproportionate to current capability. NASDAQ:NVDA trading at 223x P/E is evidence in itself. 5% decline by end of June is reasonable and 8% by Aug 18th. Puts at $405 and $384 respectively.
$PLUG is highly volatile and had a huge "buy the news event" when it announced a $172m contract over 2 yrs by an unnamed buyer. This is undoubtedly good for $PLUG over the long term, but an +18% move yesterday is optimistic at best. Shorting for a 5-8% profit exit.
Bitcoin halving is not well understood by casual crypto investors. The price action could be astronomical if it follows 2 other historical movements which were 400%+ increases in BTC price. With the onset of ETH Proof-of-Stake and this BTC halving, a massive move could happen for ETH as well in 2020. Accumulate now during the dip and hold on for the ride over the...
NTES has a long history of run-ups followed by major corrections. It is currently at an all-time high and we see a good short oppurtunity here, with a conservative 2.5% profit taking target.
