Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

Crypto Report - Ethereum Soars As Lubin Calls "The Cryptobottom"

Dr. K's Crypto-Corner

by Dr. Chris Kacher

Riding the Revolutionary Rocket with Cryptotechnologies... Entirely Evolutionary™ 

Ethereum Soars As Lubin Calls "The Cryptobottom"  - Here is the article:

My take is a big LOL to all these guys including him who have been calling for a major bottom in bitcoin, first around 10,000 then 6,000, then 5,000 and now 3,000. That said, my metrics show bitcoin is closer to a major bottom due to the recent bloodbath than it has been since it topped last December. A major low may therefore come within the next few months. Keep in mind that a wave of regulations are coming which may act as a headwind at first, but ultimately will spin into a strong tailwind as institutions come online.

The price volume as I showed here is not nearly enough for capitulation. The FUD that exists is still insufficient. FUD is more pronounced now than in prior crypto bear markets simply because this is the first time far more retail investors are involved, thus the media is that much more involved.

My comments in red on the 'Lubin Calls Cryptobottom' article with link shown above:

“ConsenSys remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago.” This is a polite way of saying things have been hard, and they've had to make big cuts. No surprise, and not indicative of Consensys as a company, which is one of the leading ones.

He stated that Consensys continues investing in projects — in its role as a blockchain tech incubator and venture firm — and hiring for internal projects that “remain core to our forward looking-business.” Bitcoin's hash rate continues to climb all through the crypto winter. It is not an indication of a bottom in place... yet.

In the same thread, Lubin complained about “an epic amount of conjecture and preemptive paranoia” concerning “situations journalists and bloggers don't have real data for, actual insight into, or understanding of.”

Concluding, Lubin reiterated his optimism about the future of ConsenSys and Ethereum, stating:

“The sky is not falling. From my perspective the future looks very bright. [...] Peaking [sic] into 2019, if you could see the landscape through my eyes, you'd have to wear shades.”

Reports surfaced this week — citing sources familiar with the matter — that ConsenSys is spinning out startups it previously backed, some of them without financial support. The sources reported that the number of employees to be laid off could be anywhere between 50 and 60 percent of ConsenSys’ 1,200 person workforce. Standard for most cryptos who have not gone under.

What could make Lubin's call of a major bottom in place correct by coincidence? A major tailwind headline news item such as the passing into law of a bitcoin ETF or regulatory winds blowing into the cryptosails of the cryptospace. I suspect neither will manifest until well into 2019.
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy