Bear Market Rally Crypto Style

Mish

From December 16 through December 23, cryptos staged a big rally. It didn't continue.

Two days ago Joseph Lubin, Ethereum Co-Founder called the bottom. More accurately he believes the bottom is in.

Most cryptos are above recent lows, but this rally has been sinking fast.

Ethereum 2018-12-27

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Mish "There is no reason to believe cryptocurrencies will ever be embraced or widely used, and many reasons to believe they won't." And if they aren't, they will trend towards zero over time.

Mike "Mish" Shedlock

Comments (4)
No. 1-2
.Tom
.Tom

I don’t believe in crypto. But you know our governments with insane monetary policies might actually make them stay for good. Ironic

Stuki
Stuki

Rather than "no reason," there are instead plenty of reasons to believe crypto currencies will be more widely used in the future. They certainly have advantages over Gold in many arenas, even if not all. Convenience, anonymity, lack of physical/geographic vulnerability to theft etc. All of which are valuable properties, unless one believes difficulty to use, ease of being spied on and ease of being robbed are some sort of benefits.


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