At some point it will start reinflating again. It is more a matter of months, than years, I believe. I know that soon enough, the Fed is likely to stop tightening. I was a bit late, but I avoided most of the ensuing plunge. Crypto assets, having been priced in a market of real negative interest rates, would be hit the hardest. I thought the Fed's changing stance on inflation would cause a market rout where all assets would drop. So I guess you could call me a crypto bull or - less generously - a crypto fool.ĭespite that, I exited all but a small portion of my crypto holdings last January. Over the next decade, I have not doubt that both Bitcoin and Ethereum will flourish and be worth 20 to 50 times their current prices. It will be the preferred currency for international transactions.
I believe that Bitcoin will function as the future hard-currency savings instrument (similar to Gold until now), while ETH will largely play the role the dollar does today.
Ethereum ( ETH-USD), for the uninitiated, is the second-most important of the crypto currencies, Second only to Bitcoin ( BTC-USD) by market value and role, Ethereum is the main currency dominating the $100 billion industry of Decentralized Finance (see CoinDesk).īefore I launch into my technical analysis, the reader may want to know my biases: I confess I'm one of the Kool-Aid drinkers who believe that cryptos will be at the foundation of our economic system a decade or so from now.
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