I recently watched on Youtube Louis Thomas telling his viewers he is buying Byteball (see link below). His fundamental analysis has been impressive to date, and his explanation on why he liked Byteball makes sense. One key component I find interesting is its incredibly low supply of 1,000,000 coins, and a circulating supply of 645,000 coins. Of course, if the tech behind any coin is weak, then the supply doesn't matter much (I am not saying Byteball tech is weak). Furthermore, in 2017 we've seen that supply is not that important for a major rally (Ripple, Tron, and a few other coins with multi-billions in supply have proven this). Second, Byteball's performance in relation to other tokens and coins in 2017 was really unimpressive. This is perhaps the most important reason I will likely stay away, as Byteball has been available to the public long enough to have been noticed by now, or at least much more than 600 mill in market cap by the 4th quarter of 2017 (current market cap is 180 mill). Third, the crypto market in general is in a state of possible breakdown and bear market, so any altcoin will need to be scrutinized much more heavily than 2017. However, I am a chartist at the end of the day, so if the price action displays close to what I indicated in the chart, I will be interested to own some.
www.youtube.com/watch?v=HWBWwH3g...
www.youtube.com/watch?v=HWBWwH3g...
Comment:
Just hit the buy zone
Comment:
Three scenarios will play out. The worst, we see a spike up from the purple very quickly. The best, is we see a period of quiet consolidation for an extended period of time (Until April), then a false breakout to the downside followed by a quick reversal above the channel in late April or May. This scenario would be extremely bullish.
Comment:
Third is a break below channel and continuation of a trend downward.
Comment:
Comment:
Price stability fully achieved. Light long from purple