Our everyday job is to find the fastest running horse, among the fast running horses, which is sometimes quite a challenging job. Our call from the last blog that we are increasing our Ethereum position proved out to be a good choice as Ethereum outperformed Bitcoin and majority of the altcoins, for the last week.
We are still not long Doge, whereas it's very difficult for us to analyze Doge intrinsic value, as we see it as a meme coin, and a great marketing project, thanks to Elon Musk and others. But it does not mean that it cannot 10X from here in the next few months.
This week we will be analyzing a couple of new coins. One is Truebit protocol, which was founded by Ethereum professionals, and is promising to help with Ethereum scalability, among other things. And the second coin is AllianceBlock, which has really ambitious plans to merge traditional finance on one hand and DeFi and crypto space on the other hand. iBlock TV is planning an interview with the AllianceBlock next week, where we will dig more deep into the protocol itself.
Bitcoin stalled for a while. We think that is just temporary and that we will see a rebound soon and continue the bull run towards 100k later this year. We think though, that some of the altcoins are probably already over valued. But during the bull run everything is possible, and we might have not seen the tops just yet.
So, coming back to Etherium again, there is only 3X to reach the Bitcoin market cap and many Ethereum proponents are already in expectations of this big event, if it is ever meant to happen. In any case, we think that probably a cooling off Ethereum will come at certain point in the next few weeks, when we might increase our ETH position if we will see a significant dip Vs BTC.
Chasing the fastest horse, remember? 😊