- 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, send a tweet giving more informations about Obelisk in Tuesday:https://twitter.com/SiaTechHQ/status/877172219679563778 This had as effect to stop the 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.
- published officially the website of Obelisk and how to purchase it: https://twitter.com/SiaTechHQ/status/878257790405488640
Now what's next?
is obviously very dynamic and their project starts to be more credible and reliable. Is it bad to have Asic in the network? had respond to this question in their blog explaining why they had initiated Asic Mining : https://blog.sia.tech/choosing-asics-for-sia-b318505b5b51?gi=387a8ab4eeb1. So fundamentals says that 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.
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.
My advice will be to buy when everyone is selling or hesitating which is maily the case right now.
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.