NVDA - Ethereum Is Not Like Nvidia Amazon But More Like Intel Trader Says: 'Negative Revenue Growth And Negative Profitability' | Benzinga
Crypto venture capitalist Andrew Kang compared Ethereum (CRYPTO: ETH) to tech stocks and sees parallels between the current price action and that of May 2021.
What Happened: He notes that during both periods, the market was about 9-10 months into a bullish momentum but cautions that this does not mean the market is immune to extreme corrections over a multi-month time horizon.
Kang also expressed skepticism about the ability of support levels and ranges to hold in the face of potential market disruptions, such as the selling of Mt Gox estate and ETF buyers selling. He singled out NVIDIA (NASDAQ:NVDA) as appearing to be at a local top and suggested that the ...