Hello!
This is going to be longer than expected. The resistance of the $100,000 level has fallen again. We are currently trading above the 100k psychological milestone. Good news for us. The twitter feed is getting divided between bears and bulls again. The bears argue that the 100k will not hold for a long period of time, that this time is different and there would be no altcoin season.
I can’t tell you enough how wrong I think they are. Of course there would be altseason. The 100k level will be broken like we broke 1k or 100 or even the 10 dollar mark. It’s always hard to break this round numbers, which doesn’t make any sense apart from human number bias.
Another common human number bias is that people buy less a particular stock if the number is high, let’s say 2,000$ per share. If we compare the same share “diluted at 2$” people will buy more that same stock.
Most of the stocks that rise to a certain level are diluted and the stock price goes back to lower numbers. It’s just stupid, but almost all of the companies do that. It has been proven that it’s effective.
Well, another day in the cryptosphere, another day where bears are bearish and bulls are bullish. I don’t see any macro metric that can turn me to bearish mode. A lot more gains to be made (hopefully) and I want to be in the game. Of course, it’s not financial advise!
Have a great day!
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