Expert Opinion: Bitcoin and Ethereum Oversold Beyond Fundamentals While Dash Finds Use Case At KFC In Venezuela

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro.

Key highlights:

  • Bitcoin and Ethereum seems to be in oversold territory
  • Fundamentals show a much stronger story the price
  • Dash finds a new use case in KFC Venezuela

Bitcoin and Ethereum oversold beyond fundamentals

The market has witnessed a severe meltdown and doesn’t seem to have found a floor yet. The fear and greed index seems to suggest extreme fear conditions in the market as no one knows where the selling would stop. While a lot of analysts have suddenly turned bearish, Christopher Burniske the renowned Venture Capitalist published a post called “Bitcoin & Ethereum: Prices are Down More than the Fundamentals.” As the title suggests, the post takes a good look at some of the network factors including the supply side (hashrate) and the demand side (daily transactions, functionality, active wallets) for two of the most popular cryptos. Overall, these factors tend to line up fairly well with the price but Chris points out a divergence that could suggest the market is now oversold. This research put forward by Chris is a strong affirmation that the volatility which is seen over the last month is primarily a technical sell-off and there is no fundamental reason for it.

Dash finds a new use case at KFC Venezuela

Dash has been making excellent progress on the ground lately, especially where crypto is needed most. This latest headline, the KFC will start accepting Dash payments in Venezuela, shows that coin are set to vastly increase their market share of overall money in Venezuela. KFC isn’t the first major fast food chain to go Dash either. Both Papa John’s and Subway are already successfully using Dash for fast fast-food payments. In general, Dash has been adding merchants left and right. The directory site keeping track has already counted more than 4,400 locations, especially in Venezuela. Furthermore, the Dash Core Foundation has recently reported that they’re weathering the storm quite well and that the network’s coffers are more than sufficient to sustain operations and even expand further. Given this type of fundamental dissonance at play, it can make it difficult for the average investor to choose the projects that have a bright future and distinguish them from those that are in for a sharper downturn.

The post Expert Opinion: Bitcoin and Ethereum Oversold Beyond Fundamentals While Dash Finds Use Case At KFC In Venezuela appeared first on Coingape.

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