Fundamental over Technical - SC is a Sleeper
I like to keep things simple and stupid, because you don't need to complicate things to see the big picture. When you keep big picture in mind and exercise patience it's much easier to profit in these unpredictable markets.
Couple of points:
- With initial negative Obelisk reaction, uncertainty over development funding and alt coin market crash, Sia got hit harder than most. I believe it has been over-sold.
- A bottom has been clearly established. Strong buy at the blue box area and I've been noticing multiple high-value bids around here (3-10 BTC worth) which looks like accumulation.
- $400K grant will cover full-time development of 4-5 devs for 1 year (less uncertainty).
- Obelisk under production, expect to hear updates and release date in a few months (less uncertainty).
- Recent bounty announcements for developers to build apps, Sia being positioned for some great growth in the months to come.
- Taek mentioned that they are in talks with Coinbase, Kraken, etc to add SC so it can be purchased directly purchased, he is confident this will happen within the next year.
- Still in super-early beta without proper UI polish or marketing, major releases (and more 'exciting' features like video streaming, file sharing) are yet to come.
I cannot predict the timeframe for when Sia will fully recover. With strong support in the 260-300 sat area, there is much more room on the upside than on the downside at the moment. Given the above points, and the fact that this coin already has a strong community, and devoted devs who know what they're doing, and a legitimate use case which is financially attractive for small businesses, and major upgrades from the road-map still yet to be released.. I think this coin is prime for a good long-term hold.
Couple of points:
- With initial negative Obelisk reaction, uncertainty over development funding and alt coin market crash, Sia got hit harder than most. I believe it has been over-sold.
- A bottom has been clearly established. Strong buy at the blue box area and I've been noticing multiple high-value bids around here (3-10 BTC worth) which looks like accumulation.
- $400K grant will cover full-time development of 4-5 devs for 1 year (less uncertainty).
- Obelisk under production, expect to hear updates and release date in a few months (less uncertainty).
- Recent bounty announcements for developers to build apps, Sia being positioned for some great growth in the months to come.
- Taek mentioned that they are in talks with Coinbase, Kraken, etc to add SC so it can be purchased directly purchased, he is confident this will happen within the next year.
- Still in super-early beta without proper UI polish or marketing, major releases (and more 'exciting' features like video streaming, file sharing) are yet to come.
I cannot predict the timeframe for when Sia will fully recover. With strong support in the 260-300 sat area, there is much more room on the upside than on the downside at the moment. Given the above points, and the fact that this coin already has a strong community, and devoted devs who know what they're doing, and a legitimate use case which is financially attractive for small businesses, and major upgrades from the road-map still yet to be released.. I think this coin is prime for a good long-term hold.
Comment:
Uptrend still intact, I'm BULLISH baby!
Comment:
Spoke way too soon on 7/25... this is why I'm not a day trader, crypto is too unpredictable. Long term vision stays intact so I continue to hold.