MRB on Coindesk – November 16, 2021
“The crypto space has now become mildly overbought,” Santiago Espinosa, a strategist at MRB Partners, an investment research firm, said during an interview with CoinDesk. The chart below shows MRB’s cyclical momentum indicator, which has risen from oversold levels over the past month.
Espinosa said that risk-taking in cryptocurrencies has been heavily incentivized by extreme monetary and fiscal stimulus. This could mean cryptocurrencies have further room to rise and eventually reach extreme overbought levels.
For now, “I believe that until real interest rates become restrictive, the recent rally in this speculative space has legs,” Espinosa said.