I don't believe in charting to predict the future.
Charts are about understanding past events - telling us a nice (hi)story through plotted data.
According to this chart, the speculative demand for nano is correlated with bitcoin fees. Suggesting users migrate to XNO's efficiency under high-fee environments.
Will that continue to happen in the future?
Nobody knows.
Can other factors have influenced this observed correlation?
Probably, yes.
But people who want to use peer-to-peer decentralized money will probably look for competitive alternatives if they can't use BTC in its current (or future) state.
Nano, and a few other competitors will always be there for these people.
I personally know many who are already doing this.
I did it myself a few years ago, and I have no regrets, despite the price action.
I'm a user first, and I use cryptocurrencies daily - but I see no point in using Bitcoin because it doesn't meet my current demand for P2P self-sovereign currencies. It is as simple as that.
Source: XNOUSD vs. BTC_FEEUSD [1W]
* Nano is an open-source protocol, with its development led by a full-volunteering team, and run by a decentralized network. Nano is also a cryptocurrency with absolute zero fees and instant settlement (achieving finality in ~500ms). The cryptocurrency XNO also has no inflation, as all units were already fully distributed for free between 2015-2017 for anyone with access to a simple computer + internet.
Charts are about understanding past events - telling us a nice (hi)story through plotted data.
According to this chart, the speculative demand for nano is correlated with bitcoin fees. Suggesting users migrate to XNO's efficiency under high-fee environments.
Will that continue to happen in the future?
Nobody knows.
Can other factors have influenced this observed correlation?
Probably, yes.
But people who want to use peer-to-peer decentralized money will probably look for competitive alternatives if they can't use BTC in its current (or future) state.
Nano, and a few other competitors will always be there for these people.
I personally know many who are already doing this.
I did it myself a few years ago, and I have no regrets, despite the price action.
I'm a user first, and I use cryptocurrencies daily - but I see no point in using Bitcoin because it doesn't meet my current demand for P2P self-sovereign currencies. It is as simple as that.
Source: XNOUSD vs. BTC_FEEUSD [1W]
* Nano is an open-source protocol, with its development led by a full-volunteering team, and run by a decentralized network. Nano is also a cryptocurrency with absolute zero fees and instant settlement (achieving finality in ~500ms). The cryptocurrency XNO also has no inflation, as all units were already fully distributed for free between 2015-2017 for anyone with access to a simple computer + internet.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.