Cryptocurrencies

EOS: A Prime Example of Buy the Rumor Sell the News!

Now that we are a few month past the B1 announcement that turned out not to be anything crazy, let’s take a look at the price action of EOS since it has become a poster child of the statement…

“Buy the Rumor, Sell the News!”

I have been actively investing almost twenty years now and that mantra is something I learned long ago (just need to remember to act on it).

It really does hold true in many many cases, whether it stocks, currencies or cryptos.  In the end markets are driven alot by expectations and when a large event or news item looms people tend to fomo a bit which runs up the price.

At that point anyone who is in and up some money is likely to get out of dodge once the news comes out because either; A.) it was a disappointment or B.) they know it likely will see some kind of pullback as others book profit.

On occasion things will continue to pop higher, but the further out the anticipated news the less likely it is being all that time of anticipation to see price run up.

Clearly that was the case with EOS.   Look at the chart, that top a few months ago was on June 1st, the date of the announcement of Voice, etc. – it doesn’t get any clearer than that.

 

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