Good post but I'd respectfully disagree about not being able to do TA. Absolutely you can do TA on byteball. Or at least I can, I'm quite happy with placement of trend lines on my chart.
Byteball is still in a clear bear market I'd say, and remained so even during the all time high. No doubt this is due to the extreme high inflation with monthly distribution (dumping) of coins into the market which was, especially in the first months, deposited largely to weak hands. However I am not criticizing the distribution method. It is what it is and you have to start somewhere and get the coins distributed. I view this method as much much better than via an ICO which was one of the things that drew me to this project in the first place.
Anyway, I think dynamics will change now in interesting and potentially more bullish ways. For a start byteball is becoming more scarce. Because its gone down in value there is less incentive to cash in free money, coupled with that the amount given to linked bitcoin holders is drastically reduced, so that means the incentive to sell and the amount that can be sold (by the weaker hand bitcoin holders) are all reduced. On top of all that there is no distribution this month causing scarcity of supply for this month which adds to what I already described.
While there are still a lot of byteball to be distributed, I think that now they will mainly go to invested byteball holders with much smaller portion to the bitcoin holders. ie more of these holders will probably be stronger hands. So yes there will be continued downward pressure while distributions are still inflating the supply on the market but for reasons I stated I think this will be less than before.
Aside from those observations on a technical level byteball looks oversold even within its bearish trend.
These are all reasons why I've been buying, not to mention that I think the technology is amongst the most interesting I've seen.
will see, i am open minded and invested a lot in to it. Fingers crossed other will see what you see.
