Good day all. Some further corrective action on ETHEREUM today but I want to talk about bigger picture rather than look at the chart. I've already done some observation on the current performance cryptocurrency in the market
I keep seen Weekend BS stuffs like 'ETHEREUM to $500 this week'. 'ETHEREUM to $ 1000 by end of year' etc. Please try to ignore all this as it can lead to un justified expectations and disappointment
When Bubbles Burst
I personally think crypto has been in a bubble as a sector which is why I have kept my expectations of a summer correction being likely. The fact that ETHEREUM has been to $425 does not mean it can surpass it quickly.
I have attached a chart of Nasdaq index on etoro platform(composite not https://www.etoro.com/markets/nsdq100) and it shows an amazing statistics that it took 15 years , yes FIFTEEN , to re- attain the high from the DOCTOM BUBBLE in the year 2000.
I am not forecasting this kind of 80% crash but I want to point out that such things DO happen and we have to accept that it can.
We will only know in hindsight whether the May/June 2017 parabolic rally in the crypto space was the peaking of a Bubble when we look back in future years, but as with all market moves we have to be able to accept it if it and carry on.
I often talk about patience, discipline, and fortitude and hope you can see how such traits become enssential when we move into unknown territory.
Thank you for your time. Please upvote , reesteem and like.
