Ethereum Classic is bringing back the vibe of 2017 mania.
How can Ethereum Classic suddenly just woke up out of dead and then doing this crazy move?
1. Ethereum Classic or Crypto has never been dead. Despite a prolong 2 year bear market, the whole market is still alive, with more exchanges and more coins being created. People always underestimate human greeds. Especially given the troubles in the fiat system, Lebanon is the latest casualty. So, crypto doesn't seems to be bad at all when you compare to what happens in fiat and also all the negative yielding government bonds.
2. Capital Flow. Capital Flow. Capital Flow. US stock market has been breaking all time high and is entering a raging bull market territory. All of these money will eventually flow into riskier assets, which include small cap stocks and crypto. So, this is normal.
3. Current stock market conditions is AKIN to the 2017 bull market, whereby all the Nasdaq, Dow and S&P 500 are breaking out after a consolidation period. Therefore, if capital is flowing to the crypto market, it will make a move and be in bull market, which the last we had is in 2017.
We are still early in this bull market, whether the current bull market will be as crazy as 2017, remains to be seen, it is UNLIKELY that we are going to see that magnitude of gains since crypto came from very low base.
For example, ETC was 1 bucks in 2016 and going to 40 bucks was 40x. Can ETC do another 40x? highly unlikely.
I don't care about magnitude or number, I only care about opportunities, when opportunities to be making money from a crypto bull market comes, I will seize it.
Doesn't matter how much multipler it will affect my wealth, I am not concern about becoming a millionaire of billionaire of buying lambos, I am more concerned about growing my wealth and then use it to survive in a doomsday scenario, buying lands, do farming, do my own foods, just in case, that is more prudent in the long run.
Enjoy this bull market while it last.
ETC most probably will go and hit 20 bucks as it was another important resistance level, and other crypto will follow suit, the market always move together.
1. Ethereum Classic or Crypto has never been dead. Despite a prolong 2 year bear market, the whole market is still alive, with more exchanges and more coins being created. People always underestimate human greeds. Especially given the troubles in the fiat system, Lebanon is the latest casualty. So, crypto doesn't seems to be bad at all when you compare to what happens in fiat and also all the negative yielding government bonds.
2. Capital Flow. Capital Flow. Capital Flow. US stock market has been breaking all time high and is entering a raging bull market territory. All of these money will eventually flow into riskier assets, which include small cap stocks and crypto. So, this is normal.
3. Current stock market conditions is AKIN to the 2017 bull market, whereby all the Nasdaq, Dow and S&P 500 are breaking out after a consolidation period. Therefore, if capital is flowing to the crypto market, it will make a move and be in bull market, which the last we had is in 2017.
We are still early in this bull market, whether the current bull market will be as crazy as 2017, remains to be seen, it is UNLIKELY that we are going to see that magnitude of gains since crypto came from very low base.
For example, ETC was 1 bucks in 2016 and going to 40 bucks was 40x. Can ETC do another 40x? highly unlikely.
I don't care about magnitude or number, I only care about opportunities, when opportunities to be making money from a crypto bull market comes, I will seize it.
Doesn't matter how much multipler it will affect my wealth, I am not concern about becoming a millionaire of billionaire of buying lambos, I am more concerned about growing my wealth and then use it to survive in a doomsday scenario, buying lands, do farming, do my own foods, just in case, that is more prudent in the long run.
Enjoy this bull market while it last.
ETC most probably will go and hit 20 bucks as it was another important resistance level, and other crypto will follow suit, the market always move together.