Following a downtrend, the Rounded Bottom forms a gradual bowl shape re ecting a gradual shift in the balance of supply and demand. Investors were indecisive and did not if it was a good idea to keep investing in Sia. Followed by that, a quite long period of inactivity, the bottom of the bowl that I drew for you, and it is when the price patterns starts it upward turn. Volume start to increase and I see a vertical movement of the chart in the next month.
HODL and be patient.
Targets I have in mind: 512,573,623,672,742,832,1091,1510
@BobbyJGold, i set up only 4 target for mid february and they do not represent $2.10.
This target might be achievable as an ultimate target for Sia
BobbyJGold
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@AmneyMounirDerhem, ok understood. What price to do you estimate for mid Feb?
UnknownUnicorn1484312
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@BobbyJGold, in BTC my targets are 573 to 672 so up to $0.09
BitCanuck
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What are your thoughts on the Siacoin Asics bitmain just shipped ? They are going to mine a rediculous amount of sia next month. Do you think that will push it down?
UnknownUnicorn1484312
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@BitCanuck, More miners will mean a more decentralized network and with greater security.
Regarding the price of Siacoin for the upcoming month, I agree that there bill noticeable fluctuation once the first batch of Asics will start mining as there will be owners of Asics that will want their investment back as quickly as possible. After that, I might think that these miners after a certain time will realize that they control the coin supply, so, if the the network is running as intended and the demand for storage increases, they can rise the price by holding their coins. At the same time, if the demand from renters grows faster than inflation, price will grow exponentially till the price of the service exceeds renter acceptance. (same is happening for BTC and ETH)
For this reason, more miners is a good thing for Sia as it will definitely give more value to it.
juanlmendez
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I had positions on 375 sats and I am really preoccupied because I think because of the miners drama. What do you think about the price for the upcomming days?
UnknownUnicorn1484312
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@juanlmendez, More miners will mean a more decentralized network and with greater security.
Regarding the price of Siacoin for the upcoming month, I agree that there bill noticeable fluctuation once the first batch of Asics will start mining as there will be owners of Asics that will want their investment back as quickly as possible. After that, I might think that these miners after a certain time will realize that they control the coin supply, so, if the the network is running as intended and the demand for storage increases, they can rise the price by holding their coins. At the same time, if the demand from renters grows faster than inflation, price will grow exponentially till the price of the service exceeds renter acceptance. (same is happening for BTC and ETH)
For this reason, more miners is a good thing for Sia as it will definitely give more value to it.
That's make the market cap.more than $72 billion!
For this little coin? You can't be serious.
Even $2.10 a year from now would be a stretch.