Where did all the FUD go? I am used to read all that FUD when the price is moving
Ok... Here is what many consider FUD... Even though they are valid concerns.
1. And this is an obvious #1, bitshares is merely caught up in a giant alt coin pump. While seeing it move up against some of the other currencies is a positive, did Bytecoin, Stellar, factom, peercoin or 90% of the other coins do anything to warrant their pump as well? No.
2. The pump is being contained mostly to the centralized exchanges. Account creations is stagnant and transfers hasn't made a new high. Filled orders has made new highs, but that is probably due to more people hearing about all the easy money they can make running a bot... I'm sure that is going to end well.
3. The money isn't flowing to derivative projects for basically any of the major platforms. The money is staying one derivative below bitcoin. In real bull markets, small caps outperform large caps.
4. Bitshares fundamentals have not changed (mostly the inability for the chain to not operate at a loss), and in some cases the fundamentals have gotten worse. The debacle at blockpay and possible delay of stealth is very concerning. Not everyone shares this opinion, but I believe stealth was the most important factor for near term BTS growth.
Whats bullish??
The inablility for people to withdraw bitcoin to fiat is bullish. It gives exposure to bitUSD or bitCNY as a low volatility solution. Their has definitely been growth there, and maybe the bitUSD/CNY holders will begin to look at projects on the DEX and start investing in those.
Momentum- The momentum is super strong in everything crypto, but that could change on a dime with one quip out of the PBOC or other regulatory board about crypto currencies. I think all of crypto, including BTS has either topped or will top this week. How long that top lasts I don't know, but I expect btc to be at $1000USD and bts at $0.015 by the end of June.
Bulls make money, bears make money, pigs get slaughtered... Don't be a pig if you are sitting on a 10-15 bagger here. Parabolic markets always reverse and they reverse hard.
Serious question, Any change in your concerns? I know not much changed on fundamentals but there are some good signs. Blockpay on track (?) again, blockchain making profit for the second time in its history, price being >0.3$ etc.
Do you still think "... bts at $0.015 by the end of June." ? because that is a hell of tanking from 32 cents.
Well a week later bts topped out and fell around 60%, but the crypto spike resumed shortly after.
The good news is there was a spike in account creations and transfers, as well as the platform turning a profit for the first time. The increase in bitcny and bitusd is also a good sign that people are coming into the system.
A 95% crash would be doubtful to happen in less than 2 weeks... The whole crypto sphere can easily give a 50% haircut in a couple days. If this happened I doubt bts would be spared, but a retrace back to say 15 cents wouldn't be that out of the question
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thanks for the updates. Keep up the good work Alfredo.
