Check related ideas to see analisys of why xmr should have gone bubble in 2017 (darknet market adoption, reduced , tail emission and privacy features).
Here a couple charts from my original monero long idea updated to see results
Cup and handle
Now i am not holding any Monero but i still trust i its potential in the long term as the main coin of the darknet. That is why i've been looking for buying points, as i did earlier this year and managed to get a great re-entry for part of my positions.
Only play this setup spot and with a long-term (18-24 months) plan.
I have no doubts Monero is the best coin out there for the next features:
-Privacy robustness: enforced mixing, RingCT and stealth addresses make of monero the most private and SECURE blockchain
-Tail emission: miners won't have to rely 100% on tx fees for rewards
-Supply distribution/penetration: As a relaunch of an interesting project with a huge premine and also the timing of it (against bitcoin , whose early miners where probably around 1 to 3, monero had at least 40-50 public images interested in the project since day 0) is one of the coins with best coin supply distribution. It was never too cheap compared with other projects and it had multiple pump and dump cycles to redistribute supply.
I see monero sub 100 in less than 6 months. And i called monero at 1B market cap when it traded below 10 usd and i called 200 usd per coin when we broke the 50 usd mark. And i am a firm believer of this project, it was my entry into crypto and my luck shot to build my wealth.
I think monero is the less overvalued project among the top 20 crypto-projects, but it is still overvalued, only less than the average of the market. Don't let this confuse you. Monero will suffer along with every other crypto. And will potentially reach undervalued prices and easy buys.
This looks like a perfect wyckoff market top/distribution. Get ready for the mark down.
You are wellcome.
One last bounce before 60? or heading straight to it?
1. You will always miss trades
2. There will always be another trade
But in case of cryptos we are probably seeing bubbles that won't be seen in dacades again.. so it's hard to miss one of these trains.
If price hasn't crashed yeat it is for this "hodl" reglious zealotry.
IT is not that crypto is failing, it is the nature of the markets. After a steep price increase (from 800 to 20000 -2500% or x25- in 9 months) there will necessarily come a steep price decrease.
Yeah i know, i am talking about bitcoin, but bitcoin "rules" in the crypto markets. If bitcoin price suffers badly, everything will suffer.