Hello everyone
A lot of great fundamental news in today's headlines, unfortunalty I can't say the same about the technical analysis, let's get straight into this.
fundamental
There were a lot of rumours going around of investors and analysist, who are claiming that ethereum futures are around the corner. Ethereum had had a very good couple of days last week and the rumour spread all over social media. Yesterday cointelegraph wrote an article that CME group wil launch an ethereum price index in partnership with ethereum future exchanges. This is a huge deal! This is allowing more institutions (=more money) to get involved. The market can become more mature and less volatile.
Other great news is that coinbase is targeting $10bln institutional investors with new suite of products. All these things stimulate the 2 most important things in the cryptomarket right now: awareness and adoption
technical
On the technical side it doens't look very positive on short term.
First of all you can see a huge bear flag. it's noticeable that every time BTC is in a very aggressive uptrend, it always goes down in the next month or two. This pattern is telling us nothing good for now.
A lot of great fundamental news in today's headlines, unfortunalty I can't say the same about the technical analysis, let's get straight into this.
fundamental
There were a lot of rumours going around of investors and analysist, who are claiming that ethereum futures are around the corner. Ethereum had had a very good couple of days last week and the rumour spread all over social media. Yesterday cointelegraph wrote an article that CME group wil launch an ethereum price index in partnership with ethereum future exchanges. This is a huge deal! This is allowing more institutions (=more money) to get involved. The market can become more mature and less volatile.
Other great news is that coinbase is targeting $10bln institutional investors with new suite of products. All these things stimulate the 2 most important things in the cryptomarket right now: awareness and adoption
technical
On the technical side it doens't look very positive on short term.
First of all you can see a huge bear flag. it's noticeable that every time BTC is in a very aggressive uptrend, it always goes down in the next month or two. This pattern is telling us nothing good for now.