ETHUSD: Peak ICO negativity sent $ETH back to the accumulation
This is an update of my $ETHUSD long term forecast. We're holding spot holdings in $ETH among other currencies in our crypto portfolio for a good while now. We aim for the targets on chart, it should base here for a bit, before launching higher, as the ICO 'ban' is potentially either reinterpreted by the market as actually bullish, since $ETH is a protocol to run smart contracts harnessing the power of descentralized computing first and foremost -and not an 'ICO scam machine'-, or proven to be falsely reported or exaggerated on some crucial detail. Overall, I think this can resolve positively, but we need to wait and see to know how it actually does happen.
The chart provides us with guidance, and parameters for risk management, as well as potential target zones, which have been reliable and very accurate in the past, so, let's see if we get it right this time. Regulations that could result in a catastrophe for cryptocurrencies exist, and have existed for a long time, but it is up to the regulators doing the interpretation of the 'language' in them, to actually enforce something that might damage the crypto markets -albeit temporarily, but potentially drastically enough to cause a bear market for 2 years, and a severe crypto market cap decrease-.
As always, the devil is in the details, and we still don't know how the ban will be enforced, other than scarce reporting of chiense exchanges halting trading or taking preemtive action, and it isn't yet clear if/when/how will they 'refund' ICO investors. Who knows?? Certainly not me, or the market.
It is key to remember that many of the insiders and market participants might be aware of facts we still don't know about, so many times, they show their tracks in the technical charts.
Shout out to @db3NYa5Vww for the help in interpreting the texts concening potentially relevant regulations.
Best of luck.
Cheers,
Ivan Labrie.
The chart provides us with guidance, and parameters for risk management, as well as potential target zones, which have been reliable and very accurate in the past, so, let's see if we get it right this time. Regulations that could result in a catastrophe for cryptocurrencies exist, and have existed for a long time, but it is up to the regulators doing the interpretation of the 'language' in them, to actually enforce something that might damage the crypto markets -albeit temporarily, but potentially drastically enough to cause a bear market for 2 years, and a severe crypto market cap decrease-.
As always, the devil is in the details, and we still don't know how the ban will be enforced, other than scarce reporting of chiense exchanges halting trading or taking preemtive action, and it isn't yet clear if/when/how will they 'refund' ICO investors. Who knows?? Certainly not me, or the market.
It is key to remember that many of the insiders and market participants might be aware of facts we still don't know about, so many times, they show their tracks in the technical charts.
Shout out to @db3NYa5Vww for the help in interpreting the texts concening potentially relevant regulations.
Best of luck.
Cheers,
Ivan Labrie.
