Hello, hello and welcome to this week’s Market Outlook. It's been more of the same this past week, I'm afraid, with the markets remaining largely in consolidation, although there has been some mild continuation of expected trajectories, both Bitcoin and the altcoin market. As such, this week's post builds on the ideas put forth in the previous; there is little new to mention. I'll be taking a look at the past week's price-action in Bitcoin, Ethereum and Monero, as usual, plus providing an update on EOS and discussing the current range-bound environment in Cardano.
What is the next Bitcoin? What is the next Ethereum? These are the two questions asked by those unfamiliar with cryptocurrencies and yet seeking to realise the returns advertised by the space. In truth, there is no next Bitcoin or next Ethereum. What people are really asking is which cryptocurrencies will outperform Bitcoin? Which investments in crypto will provide returns similar to Bitcoin or Ethereum?
Given the transparent responses to a poll I ran recently on the usage of rich-lists in fundamental analysis of altcoins, I learned that despite most being well aware of the utility of these tools, few implement them in their analyses, predominantly due to insufficient knowledge of the approach itself.