X Hall of Flame, Roman – Cointelegraph Magazine
2024.07.30 12:31
|
|
Just hold off on assuming that Ether’s price will surge now that spot Ether ETFs have launched. Bitcoin is kind of holding up the price queue, according to pseudonymous crypto trader Roman.
“In the short term. I don’t see Ethereum doing that well, at least for the next couple months,” he predicts in an interview with Hall of Flame.
The popular crypto trader with 56,000 X followers thinks that, similar to the rest of the cryptocurrency market, Ether needs to hang tight and wait for traders to get bored with Bitcoin’s price before they start moving their money into other cryptocurrencies.
“ETH is going to have its time. I think the biggest implication for this is when there’s that liquidity shift,” Roman explains.
When traders start making a liquidity shift by cashing out their Bitcoin for riskier assets, it usually means they think Bitcoin is at, or near, a peak.
Roman recalls that in 2020, Ethereum “didn’t really do well” until Bitcoin hit $40,000, pointing out that when Bitcoin was breaking all-time highs, Ethereum was still down 80% down from its peak price.
“So let’s say Bitcoin gets to $120K. It’ll probably correct down to $90,000 right. On that correction, when those people take profits, they’re not just taking profits and running to the bank. They’re rotating that money into Ethereum and all these other altcoins,” he explains.
“The only way we’re going to get that is if Bitcoin breaks highs and continues really much higher. So more money can pour into it all.”
Roman believes the shift it is likely to happen before December, and adds that Bitcoin breaking $72,000 “is pretty much confirmation” that it is heading towards $90,000.
For anyone still considering jumping into Bitcoin, Roman thinks you might be a bit late to the game. But altcoins could still be worth a go.
“I would not be buying right now. I would think it’s too late at least for Bitcoin now. For a lot of alts, however, I disagree,” he says.
The technical chat about the market is nothing new for Roman, having just wrapped up a daily call with around 100 subscribers who pay about $40 a month to hear him discuss the market.
What led to X Fame for Roman?
Roman admits that when he was starting out on X in April 2021, he kind of forgot it was a public platform and used it like a teenage girl with a diary.
“The Twitter posting was really just like a journal for myself,” he laughs, claiming that his content kind of went viral by accident.
(X/Roman)
“I don’t know how they blew up because it wasn’t like I was tweeting at people. I was this very small account,” he laughs.
However, some of his content last bull run was on the money which probably caught the eyes of hopeful traders.
“My analysis over the 2020 and really 2021 bull market was pretty accurate. I posted a couple times that were suggesting the top was in November 2021 and it ended up being true,” he says.
Read also
Features
Pink Drainer creator defends his wallet draining crypto scam kit
Features
The Invisible Man of the Visible World: How Blockchain Could Offer New Hope to Stateless Rohingya
“Maybe I got lucky but at the end of the day my analysis speaks for itself and I think a lot of people following it know that it’s relatively reliable compared to a lot of other traders are like,” he laughs.
“You got a lot of people in the space that are phonies or whatever like they post analysis are they post this and nothing ever comes of it.”
“They’ll post in both directions and then delete one post and take the other one and try and get it popular and people will catch on that I don’t do that. I just let my stuff speak for itself again,” he explains.
What type of content does Roman make?
Roman is a pretty active content maker on X, posting four to five times a day.
“Mainly like chart wise again a lot of Bitcoin, maybe some dominance charts, maybe an all coin chart here now too,” he says.
Read also
Features
Reformed ‘altcoin slayer’ Eric Wall on shitposting and scaling Ethereum
Features
What do crypto market makers actually do? Liquidity, or manipulation
He also live streams market chart analysis on his YouTube channel.
“I also live stream Monday, Wednesday, and Friday, for the public for free,” he explains.
What type of content does Roman like?
Roman mainly follows other crypto traders on his feed and doesn’t really have time for the meme-filled, trash-talking crypto content.
One of his favorites is veteran analyst and chart guru Peter Brandt.
“He has been trading for 40 years and can learn a lot from him, he doesn’t just do crypto but he’s a general trader,” he says.
(X/Roman)
Another one of his favorite solo crypto traders is Castillo Trading, another anon like him.
“He’s pretty solid. He’s another American,” he says.
Roman is also is a fan of “IWantCoinNews” because he posts altcoin charts.
Roman’s Predictions?
Unlike traders who fear being wrong and play it too safe, Roman brings the alpha energy you see with six foot tall men on the football field when he’s making predictions.
However, he still is self aware enough to put out a warning when he is going to let out a cliche.
“I hate to say it this way, but we’re completely clear for liftoff,” he laughs.
(X/Roman)
“There’s nothing holding us back at this point if we break $72,000,” Roman states.
“I would put a conservative incident estimate around like $100K to $120K by the end of the year,” he says.
As for which altcoins, he believes that “anything about AI will do relatively well” once the liquidity shift away from Bitcoin happens.
“I think TAO and obviously Fetch.AI are kind of my two horses I’m betting on,” he declares.
Subscribe
The most engaging reads in blockchain. Delivered once a
week.
Ciaran Lyons
Ciaran Lyons is an Australian crypto journalist. He’s also a standup comedian and has been a radio and TV presenter on Triple J, SBS and The Project.
