Tale of Two Fractals
Updated
ICOs to be evaluated on Monday May 7th. Any decision the SEC makes will be critical in determining the future of bitcoin and other cryptocurrencies. The printed fractals are both from 2013. The RED means we're in the April bubble. the BLUE means we're in the November bubble. I'm bearish @ 13-14K until proven otherwise. Stay neutral until we determine sentiment post-ICO eval.
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"If the SEC decides that any of the cryptocurrencies are securities, then its issuers will probably end up in court, Gensler said. The SEC could decide in nine months to a year, or 2 to 5 years at the longest, he said."bloomberg.com/news/articles/2018-04-23/ether-ripple-may-be-securities-former-cftc-head-gensler-says
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Article about May 7th: wsj.com/articles/worlds-second-most-valuable-cryptocurrency-under-regulatory-scrutiny-1525167000Coinbase isn't registered to sell securities:
"Any determination from regulators that ether is a security could spark a wave of selling and rattle major trading venues such as Coinbase that allow investors to buy and sell it. Coinbase has discussed applying for an SEC license to operate as a brokerage firm, a process that could bring the fight over ether to the surface because brokers can’t deal in unregistered securities."
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Like the Pareto principle, I think the probability is 80/20 right now that the SEC cracks down.en.wikipedia.org/wiki/Pareto_principle
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What if it's the opposite? What if ICOs being banned leads to BTC becoming KING of marketcap again? Woah...
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