During chaotic times like these, we must remind ourselves the TA can only explain probabilities and that these probabilities are typically defined in a normal environment. That's why I deduce that even though the price will move erratically due to the chaotic nature of the outbreak, long-term investors/believers/buyers will eventually define a bottom; it is at this key level of support where we will be the most well-informed to increase our position. It could also be the case where we see the level of support gets broken through, like on 11 Aug 2019, and the price would drop significantly.
But I highly doubt that. The asset is already undervalued (as it was at that point in time), but considering the dire need for liquidity and the current environmental pressures, there are many incentives and speculative assumptions (BTC halving) that would indicate a move to the upside.
Following the words of Robert Kiyosaki, I choose to mind my own business. Investing in crypto is my business. There are only a few crypto assets out there that provide any value outside of the crypto space. I understand that blockchain can be used for maintaining medical records, supporting supply chain infrastructure, and providing decentralized financial products. Though all of these ideas offer value in the real world just like XRP, XRP's value of providing ODL via third-party market makers indicates that in order for the system to work on a global scale, XRP's protocol inherently increases the price of XRP so that it would be able to scale. I have not seen any other crypto asset's protocol create an inherent reason to push the price of its native token up. This is why I am solely invested in XRP.
That, and we get to save the world.
Until next time.
-LB
But I highly doubt that. The asset is already undervalued (as it was at that point in time), but considering the dire need for liquidity and the current environmental pressures, there are many incentives and speculative assumptions (BTC halving) that would indicate a move to the upside.
Following the words of Robert Kiyosaki, I choose to mind my own business. Investing in crypto is my business. There are only a few crypto assets out there that provide any value outside of the crypto space. I understand that blockchain can be used for maintaining medical records, supporting supply chain infrastructure, and providing decentralized financial products. Though all of these ideas offer value in the real world just like XRP, XRP's value of providing ODL via third-party market makers indicates that in order for the system to work on a global scale, XRP's protocol inherently increases the price of XRP so that it would be able to scale. I have not seen any other crypto asset's protocol create an inherent reason to push the price of its native token up. This is why I am solely invested in XRP.
That, and we get to save the world.
Until next time.
-LB
