New Buy Zone for SC

POLONIEX:SCBTC   Siacoin / Bitcoin
Dilihat 1212 kali
1212 13
I have discussed previously a buy entry and a sell one two weeks ago. If you had followed my strategy you should have sold now 30%-70% of your cap with a nice profit. However I was hoping for a better top because of all the good buy signals (good fundamental, big accumulations in 2 weeks). The fact that the bull move have stopped at 830 sat was due to some news. Here's a summery:
  • Sia has leaked Saturday that a project called Obelisk will be published the next Friday. This had pushed up the price in the weekend but rumors were saying that it will be some easy platform for file sharing
  • Once the price hit new all time high, Sia send a tweet giving more informations about Obelisk in Tuesday: This had as effect to stop the bullish move and I think they knew that. My opinion is they were afraid that not correcting the rumors will result to a crash (and not just a correction) this Friday.
  • Sia published officially the website of Obelisk and how to purchase it:

Now what's next?
Sia is obviously very dynamic and their project starts to be more credible and reliable. Is it bad to have Asic in the network? Sia had respond to this question in their blog explaining why they had initiated Asic Mining : So fundamentals says that Sia is a strong buy.

The new high had made a new buy zone (668 sat – 632 sat). I recommend to not risk waiting for price after 652 sat.
The sell strategy will be the same as previous one but with the new following prices:
  • At 891 sat, you should have sold 30% of your capital
  • At 918 sat, you should have sold 80% of your capital
  • At 956 sat, you should have sold 90% of your capital
  • The remaining 10%, you can sold it anywhere above 956 sat or hold it.

Komen: The general market is sufferring from a serious recession. This can be mainly explained by the uncertainty about Segwit and the evidence of the weakness of Ethereum. You should be worried if your investments are exposed to etheureums (eth or it's tokens). Now Sc has suffered from the decline of the market but there's no fundamental reason for this decline apart from margin calls and panik selling.

But the graph has changed and that's why I have updated my buy Zone and sell zone. And yes, the recession has increased the potential of the next bull move.
Komen: It's a little calm in the crypto market after experiencing a huge coorection. Everyone is waiting for August to be sure what will happen with Segwit case. But this only concerns price movement and is not related to the projects advancement. Hopefully, some projects don't care about price movement and continue to work evenif their price suffered from huge decline. For instance, Sia has continued to improve and to propose good solution like Sia Bounties where it reward integration of there solution and others thanks to donation: This is a good sign of how strong the project of Sia is.
My advice will be to buy when everyone is selling or hesitating which is maily the case right now.
Komen: I have been quite lately because they were nothing to talk about besides some technical updates (new version were issued with additional features) from Sia Team. The price however was declining because of the market correction and the huge jump in BTC valuation.
However, there's a huge news that helped Sia a lot for recovering and may lead it to change the valuation of Sia: Facebook are interested to make their platform decentralized. Many speculation were issued from this announcement but the more accurate for now is using the blockchain for data storage. This seems more interesting for Facebook because of the cost and some maturity in this domain (sia has a maturity of 5 years now).
This may lead to revaluation of Sia for marketcap of ~20-30 billion (dropbox who were just using S3 for storage had a market cap of 10 billion $). Also, if facebook adopts to use sia for storage, it will lead to a wide adoption of sia for hosting which may lead to a market cap of ethereum 100 billion $).
Also the price of Sia in HitBTC exchange had hit 2000 Satoshi.

Idea Berkaitan

Hi @sabirdeux still think that will recover ? And arrive at 900sat or not . If yes what time will it takein your opinion .
sabirdeux gramososmani
@gramososmani, yes I think that we will hit and exceed 900 stat. For the time, I think that it realy depends on when the recession of BTC will stop (for me, it will bounce at 1915$). So the timeframe depends on the market.
@sabirdeux do you still think its going 900 satoshi
sabirdeux gramososmani
@gramososmani, yes sir
how do you think, could price goes above 1k sat? 1100-1200 sat ?
sabirdeux elkirill
@elkirill, I think it will surely hit that range but not in the next bull move. I will say after the next one.
elkirill sabirdeux
@sabirdeux, ok; TY
Thanks man i hope it does because i bought at 710satoshi and mised 830 was looking to 900
Hi Friend, I see a 530BTC sell wall at 689 satoshi very close to the current price of SC on Poloniex, how do you think this will affect the market?
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