I suspect ether devs are pumping their own coin, the constant pumps just dont feel natural.
We're early in a new altcoin bull market. I saw that when the usual pumps started lasting a lot longer than the "Chinese pumps" of legend.
If it's of any help, market lore says there are three stages to the "classic" bull market:
- Stage 1: Recovery from the bear-market lows. Begins with gloom, cynicism and apathy. Proceeds in the face of widespread skepticism and skittishness. Results in the assets being snapped out of gloom-ridden undervaluation and back to reasonably optimistic valuations. Tops out when the apathy/gloom/skepticism turns into new hope. The peak looks like a bubble, which in retrospect is a "false bubble."
- Stage 2: Rises with better fundamentals or outlook. Begins with hesitation, skepticism and worry that the false bubble was a real bubble. Proceeds with better and better news. Results in the assets being pushed from reasonably optimistic valuations to unambiguously optimistic valuations as revised by the good-news flow. Tops out when the optimism seems overdone and worries about overvaluation kick in. The peak looks like a needed corrective to the optimism.
- Stage 2: Rises as a result of the asset being seen as a "sure thing": the Minsky effect. Begins with reasonable confidence. Proceeds with more and more speculative excitement. Results in the assets being pushed from optimistic valuations to pie-in-the-sky valuations. This stage is noteworthy for spawning stories about punters who've gotten rich quickly. Tops out when FOMO enters the picture, which sets up a bubble when the fear of missing out turns into plain fear. The peak, in long retrospect, looks like a classic bubble.
It's my opinion - take it as you will - that the current bull market is still in Stage 1. To be honest, I'm skittish myself! Only half a week ago, I would have sworn that we were at the end of Stage 1 and about to get knocked down to pre-stage-2.
