Epic Bull Run for Bitcoin and Ethereum – Blow off or Lift offMay 12, 2019
Parabolic price moves happen only once in a decade. The higher price stretches are good for the bulls. Parabolic hikes are tricky because a deep retracement usually follows it. Short sellers are awestruck by the current rally of Bitcoin, wondering if it is a “blow off” or “lift off.”
One of the tweets read: “I highly doubt we will see the December lows again Peter…meaning we when parabolic from your former tweet.”
A close above the key resistance line is what the bulls want to sustain themselves. With the Epic Bull run for Bitcoin and Ethereum seemed to have occurred, those who are short will only be considered to be insane. Several other cryptocurrencies have surged; however, prominent analysts are not able to pin down a fundamental to explain this rally.
Ryan Selkis, CEO of Messari stated that Proof of Work might be good enough even for long-term scaling. The CEO of the data analytics startup has to say that PoS is not proven to work. It is recently opined that Ethereum 2.0 will take until 2021 to become a reality.
Litecoin is well aware of its target group, and the token has forever been leveraging their interests to establish a connection with its target investor group. A hashing algorithm is used by Litecoin, and the current market data shows that it is likely to be in a stronger position for longer sustenance.
With Stellar Lumens, the price hike was not enough to overthrow the bear market; however, the short-term gains were better than before. The recent surge has lifted the price of the majority of the crypto. The trend now is surely bullish; however, it is questionable whether it will control the bear for a long-term.
Ripple continues to be on the top of its game. It is expected for the upward surge to follow soon. The Ripple CEO, Brad Garlinghouse supports the strong technological foundation of the platform. The current data reassure future growth and newer heights for Ripple. The value of Ripple is expected to touch upon $1 by the end of 2019. The long-term outlook is good with an expectation of exponential surge.
Lucien Chen, the ex-CTO and ex-co-founder of TRON (TRX) stated, “As a technical man, I feel very sad that the TRON has departed from the faith of “decentralize the web.”
Chen was dismissed for theft of trade secrets and intellectual property among other reasons.