Probably imo one of the best l1s out there, Currently things in crypto don't look good overall but it's a natural part of the down cycle and usually the biggest mistake ppl make here is not buying at all, I imagine in the future this will be well above $1000~ per coin as the world flips onto web 3.
Most won't pull the trigger here as fear is very high - I believe this is capitulation for crypto and the future is very bright as Web 3 will dominate.
Dumb money has yet to realize that crypto is being positioned to be the future, Many have fallen victim to thinking these projects are scams and have no real world value/application, The whole world is going to be on blockchain and Layer ones (L1s) will absorb that demand as the future is going to be multi chain, L2's (think scaling L1s) will play a very important...
Fear is currently ruling these markets and it's probably a great time to be accumulating crypto dirt cheap as I believe the future is very bright for alt L1 chains that have already shown promising signs of growing network effects as the future will be multi-chain, Most people still have no idea about the role crypto will play in the future and are quite...
This is looking like a pretty clear Bullish retrace which will end up being a great buy op most likely - Price should start to move up pretty fast if this count is correct.
Could be in the start of a C wave here and as stated if we breach our 1.618 extension expect the correction to end up deeper and be of 5 wave structure.
Viewing market from here in 2 scenarios 1. either huge bull trap to 40-50k into early next year or 2. It's new Bull.
Viewing market structure currently it looks like we have formed a potential major low and perhaps a bottom - Currently seeing 2 scenarios here 1. New Bull trend is underway and the bottom is in. 2. the first leg down of a larger correction has completed and we're in the start of a large B wave (I have labelled potential bounce targets) however I do see the...
Great project which will play an important roll in the ETH ecosystem - l2 scaling will be the spark for the next crypto bull run imo.
Take your pick here imo - We're in for a huge bounce or it's a new Bull run to new highs.
Blockchain adoption - well funded / lot's of devs / constantly working on improving / great community = Recipe to MOON.
Think we could be shaping up for a big alt run where alt l1s do very well as networks grow due to a rapid increase in blockchain adoption.
Fears around a global recession and inflation are running high however I believe inflation is not far off a peak and equities are close to becoming great buys and Gold becoming a great Sell.
Not sure how many sellers are left here but from a fundamental pov this looks like a decent long term buy here imo.