With respect - nice summary but I think you missed the core. Markets are mostly driven by psychological effects. Progressing an athlete means to work in different fields: techniqual education, improving fitness & coordination skills, mental strength, competition mode and relaxation efforts. He won't grow in every single one at the same time in the same speed, but his thrive in the progress of one, two, three of those will help to strenghten his resources in general. Progress happens over time! Now, and by the way @cryptoenthusiast you are much smarter than I am... - What does this mean for Ethereum? ETH works out the same way: they are growing in varying areas: 1) the EEA is getting bigger and gaining more influence every day. 2) The ETF decision is expected and even if it won't get the SEC's blessing - the possibility still remains . 3) Almost every ICO is meanwhile paid in ETH which pushes the price of the ETH-token higher. 4) New Apps are released almost every week/day. 5) A growing developer team is coding and adapting worldwide. 6) The awareness in the mainstream is slow but steady rising. 7) "Big Money" is moving... - just watch the volatility in the equities- and metals markets... - money will be shifted. To be continued! Stay passionate!
Yes I do agree that it is psychological driven. But there has to be movements to initiate these psychological effects, and these movements happen due to "Big Money" coming in. These big money are usually coming from the "whales" and are either driven to pump and dump or they really just believe in what they are investing in. I believe what triggers these growing belief in ETH is essentially the publicity and all the conventions that are happening. Once one bank knows, many will follow. That is the point I wanted to emphasize, everything is sort of connected. I sincerely hope the ETF does not go through, the public market is not ready for cryptocurrency, they don't have any level of understanding and in a long-term scenario, I am not sure if it would be good for the crypto industry in general.
BRAVO! Well said. In the ETF decision I agree 100% because I don't like the riggers' fingers in the crypto markets. In my view - time's changing rapidly now, the old system will no longer sustain and therefore I believe that the money is flowing into cryptos; it is not only the money of the whales, it's money that comes from very different places and need to go to somewhere. If you don't know Martin Armstrong - https://www.armstrongeconomics.com/ - read his blogs (most of them are free); he is a brilliant minded economist! Appreciate and thnx for your response...
Thanks for the recommendation! Will check him out.