*I DONT PERSONALLY BELIEVE HBAR WILL HIT $27 THIS CYCLE, THIS IS JUST A THOUGHT EXPERIMENT*
Rundown:
ETH's chart in 2015 look similar to HBAR's chart today. While HBAR doesn't have as much time as ETH to get to similar price targets (about 8-12 months less), HBAR is a VERY strong project which outperforms most crypto currencies in both tech and use cases. Price action for HBAR has been very slow in comparison and HBAR, IMO, should already be in the range of $2-3 if not higher. I personally believe that the price is held back due to rich investors (institutions) wanting to accumulate HBAR at a low price and are holding back it's price action for as long as possible.
Similarities:
- Retracement after release followed by impulse (Red/purple box).
-The first impulse, as seen in ETH's chart, wasn't the wave 1 and potentially might not be in HBAR (Purple boxes).
-Similar percentage increase from the retracement bottom after release to the wave 1 high, 47x (HBAR) vs 52x (ETH).
Takeaways:
-If HBAR were to follow ETH's chart exactly by hitting the same fib extension levels, the price of HBAR would be $27.7.
-ETH's chart took 3 years to come to fruition, HBAR will only have 2 years and a few months due to 4 year cycle theory.
-HBAR has amazing partners like Google, IBM, LG, Boeing, Standard bank, Shinhan Bank, Chainlink Labs, Swirlds and many more.
-HBAR has some of the best tech when it comes to crypto with 10,000 TPS (infinite when sharded), an average fee of $0.0001 per transaction, 3-5 seconds transaction speed with finality all while producing almost zero emissions.
-HBAR has the most transactions out of any crypto currency with over 1.5 billion. In comparison, ADA has only 11 million as of writing this post (2021-08-22).
-$27 isn't unlikely for a project like HBAR, if the circulating supply is 10 billion by the end of the bull run, the market cap of HBAR would only need to be $270 billion. That might sound like a lot now, but by then BTC and ETH would surely be over 1 trillion and alt coins such as ADA or XRP would be in the hundreds of billions or trillions as
well.
-If HBAR hits $27, the price would go up 2900x from the bottom. ETH went up 3500x in 2015.
The Chart:
Purple box- First impulse, not wave 1
Red box- Initial retracement
Yellow box- Sideways price action before wave 1
Orange lines- Fib retracement levels
Blue lines- Elliott waves
Rundown:
ETH's chart in 2015 look similar to HBAR's chart today. While HBAR doesn't have as much time as ETH to get to similar price targets (about 8-12 months less), HBAR is a VERY strong project which outperforms most crypto currencies in both tech and use cases. Price action for HBAR has been very slow in comparison and HBAR, IMO, should already be in the range of $2-3 if not higher. I personally believe that the price is held back due to rich investors (institutions) wanting to accumulate HBAR at a low price and are holding back it's price action for as long as possible.
Similarities:
- Retracement after release followed by impulse (Red/purple box).
-The first impulse, as seen in ETH's chart, wasn't the wave 1 and potentially might not be in HBAR (Purple boxes).
-Similar percentage increase from the retracement bottom after release to the wave 1 high, 47x (HBAR) vs 52x (ETH).
Takeaways:
-If HBAR were to follow ETH's chart exactly by hitting the same fib extension levels, the price of HBAR would be $27.7.
-ETH's chart took 3 years to come to fruition, HBAR will only have 2 years and a few months due to 4 year cycle theory.
-HBAR has amazing partners like Google, IBM, LG, Boeing, Standard bank, Shinhan Bank, Chainlink Labs, Swirlds and many more.
-HBAR has some of the best tech when it comes to crypto with 10,000 TPS (infinite when sharded), an average fee of $0.0001 per transaction, 3-5 seconds transaction speed with finality all while producing almost zero emissions.
-HBAR has the most transactions out of any crypto currency with over 1.5 billion. In comparison, ADA has only 11 million as of writing this post (2021-08-22).
-$27 isn't unlikely for a project like HBAR, if the circulating supply is 10 billion by the end of the bull run, the market cap of HBAR would only need to be $270 billion. That might sound like a lot now, but by then BTC and ETH would surely be over 1 trillion and alt coins such as ADA or XRP would be in the hundreds of billions or trillions as
well.
-If HBAR hits $27, the price would go up 2900x from the bottom. ETH went up 3500x in 2015.
The Chart:
Purple box- First impulse, not wave 1
Red box- Initial retracement
Yellow box- Sideways price action before wave 1
Orange lines- Fib retracement levels
Blue lines- Elliott waves