Right now we're experiencing the largest dollar correction cryptocurrency has ever seen.
The market cap is 330b down from the peak at 814b at the beginning of the year.
One thing doesn't add up...
The fundamentals behind cryptocurrency are the strongest they've been ever, but the price is not reflective.
This brings me to my question, do the fundamentals even matter?
In a bear market, the fundamentals are trumped by the price action. Technical analysis has shown us making LOWER HIGHS with 10k being the most recent one.
Yes - Looking at long term investments, fundamental analysis on the projects you're investing in would be a smart idea, but I think technical analysis should be weighed more in your decisions.
Let's take ICON for example...
They just announced a partnership with Japanese Messaging Giant LINE which has 200m users on their platform. They have multiple ICOs launching on their platform, yet the price has done nothing but drop.
The charts and price action dictate our profits. When TA meets FA, that's usually when the magic happens. However, in a bear market fundamentals are completely trumped by price action & also BTC.
Fundamentals might win in the long game, but right now fundamental traders are getting slaughtered.
What do you guys think about fundamental analysis vs technical analysis?
Should one be weighed over the over?