This was a huge hype explosion that pulled a lot of people in and caused ICP to briefly reach the number 4 spot on Coin Market cap. CRAZY!
Looking at the chart ICP is in a severe down trending channel.
This pans out in one of two ways. Either it breaks the resistance line (Top white line) and starts moving back up.
OR
ICP continues to trend downwards until it reaches a place where the project and price are at equilibrium.
Is it a promising project with a fantastic idea? Yes
Is it still in the very very early stages? Yes
I would probably attribute a 1% possibility that the project achieves its goals of essentially becoming the replacement of the internet.
Very high risk to reward even at these prices.
**This is not investment advice just my own thoughts and opinions**
Looking at the chart ICP is in a severe down trending channel.
This pans out in one of two ways. Either it breaks the resistance line (Top white line) and starts moving back up.
OR
ICP continues to trend downwards until it reaches a place where the project and price are at equilibrium.
Is it a promising project with a fantastic idea? Yes
Is it still in the very very early stages? Yes
I would probably attribute a 1% possibility that the project achieves its goals of essentially becoming the replacement of the internet.
Very high risk to reward even at these prices.
**This is not investment advice just my own thoughts and opinions**