Yesterday I was had a brief discussion with a fellow Megacoin fan about technical analysis vs. seat of the pants feel for market directions.
I think there are quite a few reasons to believe we are in for another Megaquake like we had in 2013. The difference is that the debt from Greece, and Puerto Rico are about 13 times greater than Cyprus, and the for the most part the world economy is far worse than 2013. In 2013 we were still moving forward from the boost of trillions of printed dollars. But the fact is that we now have 40% more debt, and average household wealth has fallen 25%. Poverty rates, and the number of people on welfare and food stamps has increased dramatically. There are more low paying jobs, and technical jobs are paying less and becoming harder to find due to foreign competition. Real inflation is running at least 5 times the government's reported numbers, because they don't take food, energy, and other essentials into the equation. There are those who will debate some of this, and you are welcome to knock yourself out... But there are more and more economists that support what I'm saying, and many predicting a crash of Biblical proportions.
Leading up to the 2013 Crypto rally we saw a similar chart for Megacoin as Cyprus became the subject of financial discussion.
I also noticed as the 2013 rally started ti take shape many more people were mining different new alt-coins and trading them for Bitcoin, Litecoin, Megacoin, and other top coins. I see the same thing happening now. We are also seeing similar volatility, and more profit taking at each peak.
I believe the upside for Crypto will be far better sustained this time because the infrastructure built around it is now hundreds of times stronger than it was in 2013. Also, world governments have run out of resources to patch up the cracks they have only made bigger.
http://www.businessinsider.com/hsbcs-stephen-king-on-the-world-economy-2015-5?google_editors_picks=trueIn fact most of the people who predicted the financial crisis last time are saying the same things this time, only worse.
http://www.wsj.com/articles/ron-paul-ads-warn-of-financial-crisis-1432245027http://www.imd.org/research/challenges/TC060-14-meltdown-2015-arturo-bris.cfmHere we have an article written in 2011 that predicts 2015 will be the year. I remember people saying the same things before the last two meltdowns, and most people ignored them. So take it for what it's worth, but my bet is we are looking at the biggest crash of all time.
http://www.businessinsider.com/the-financial-crisis-of-2015-2011-1http://www.forbes.com/sites/jonathankirshner/2015/03/12/american-power-and-the-global-financial-crisis-how-about-now/