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On June 10th, I wrote this article calling Ethereum around $ 1000. At that time, it was $ 2,543:
Ethereum chart a few weeks ago
Credit: ADVFN
Now it’s $ 1,894. (Hope this has been helpful for my readers.) Here’s where we are now:
The current Ethereum card
Credit: ADVFN
You will be hard pressed to find a more bearish chart.
My standard projection for such a move is:
My prediction for the future of Ethereum
Credit: ADVFN
Which I find almost too striking to believe. However, you don’t throw away your tried and true tools just because they give a crazy prognosis.
I don’t want to repeat my previous article and I am writing this because I think this graph shows you that we are on the verge of the last step down.
The Fear of Missing Out (FOMO) is over, the meme crowd is on hold, and the powers that be are in crypto crush mode. They will not crush the crypto and they will shift their attention to other matters as soon as the crash is over, as the work done flag will be waved and they will take care of regulating the next firestorm, which is sure to be the case. in the post-covid world.
Bitcoin is on the same path, but an optimist would still pray for the salvation of the next step:
The current bitcoin chart
Credit: ADVFN
But here’s what I plan to happen next:
What I think will happen to bitcoin
Credit: ADVFN
Then for me the crash is over and will be followed by a long period of sideways trading where investors are expected to cost the dollar on average until the next round of halving and booming.
–
Clem Chambers is the CEO of private investor website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginners Guide.
Chambers won the Journalist of the Year award in the Business Market Commentary category at the State Street UK Institutional Press Awards in 2018.
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