It does not make sense for YFI to be worth more than bitcoin. It has also recently gained a fiat off-ramp at Gemini.
Weekly close may provide as support, I think the price where it first crossed over bitcoin makes sense as reversal if it doesn't completely die.
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LTF update, turning up from short covering
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Entering short here. The real 'gap' (when CME closes) is priced at 20675 lol back to sleep
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More to come. I got chopped up trying to get the top on this
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Some relief after carnage may be likely if this volume zone is broken through. It should, bears want to refill, speculative longs want to catch a knife
手動でトレードを終了しました
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Closing the perfect short before it really started running...
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Local bottom, think it's deviated too far from the price of everything in the mkt, still believe in at least 11k
Market cap is a better indicator of "worth" than price. YFI market cap is no where near Bitcoins (yfi needs to go up ~400x to reach Bitcoins market cap which would be a price of 7.2m per coin). Only reason YFI price is this high is because its total supply is very low (30k coins vs Bitcoins 18.5m coins). I do not think there is any significance of yfi price compared to btc price, thus trying to determine the "worth" of coins through "price" alone is quite arbitrary.
NeoButane
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@Kewpernicus, Wow, 30k. Great point, thanks!
konosmgr
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This is going lower.
Brain_haddin
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Good job+++
PolarHusk
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GoodJob🐻❄️
NeoButane
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@PolarHusk why thank you, I do think I am a special bear after this idea 😂