We are in the situation where the whole crypto market is awaiting for one event only..
Will the Bitcoin network split or not? There is an amazing philosophical aspect to the current state of the things. Namely, the previously stated “decentralization” of the Bitcoin, where we had clear separation and balance between “developers”, “miners”, “users” and “business around the BTC” – will it survive? And if not – will it mean that the humans nature (greed, fear and delusion) is stronger than any technological solution designed to control it?
We will witness the resolution pretty soon. Next few weeks promise to be very intense.
Let us come back and check few charts. Together with crowd sentiment.
Last time we were looking for FOMO. We’ve got to some degree. That was the reason why we posted in our Santiment.net project the following twitt . As you can see, the market indeed reversed. However, ETH didn’t go as low as we wished ($20), reaching only $30. And this is difficult call for us now.. Should we wait till ETH will fall down to $20 or rather jump on board before it’s too late?
Let’s check the following chart:It is hard to say where the wave 4 will end. Like on the picture above, or as here below:
A bit easier part is – when we have our final run in the wave 5, expect some real madness on the top. Most probably the sentiment will be something like “there is no other coin but ETH”.
Quite likely it will come together with the fall/split in BTC.
No one will be even considering to sell such a precious coin as ETH. But as a crowd sentiment follower/researcher you should have already learned. When everyone is super excited – it might be good time to consider other options.
Stay tuned. In the next weeks there will be again few regular updates. Not very often, but around once per week. The situation is special enough to do it again.