Did Everyone Take the L and Bail?
It's been awfully quiet lately on the cryptosphere. Did everyone take the L and bail? Sentiment is so bad that even Ronnie Moas seems to be throwing in the towel by toning down his BTC price targets and offering 25% off sales for his crypto-picking service.
I got hit by more taxes than I anticipated but have been using some extra cash to slowly accumulate in the last few days. Picked up initial positions in WAN, LOOM, and ZIL.
P.S. ETH has been falling like a knife. OhHeyMatty mentioned that he's expecting a ETH bounce somewhere here and I think that would be reasonable since most bear markets have pretty awesome surges.
Long term I still think ETH is overvalued versus other platforms. Long NEO, EOS, WAN, ZIL, CEL, SWH, OMG, amongst others
I think if anything is overvalued, its the coins like BTC, BCH, LTC. And by far too much. They are all building on old, outdated tech and there is barely any conceivable use case for them in the future - if crypto is to succeed eventually these old coins will drop out of the picture and be replaced by functional, useful coins.
For future viewers: price of bitcoin at the moment of posting is 7831.10USD