The old "Maybe Bottom" did not hold on the news that Chia Network Inc will sell 200k XCH worth ~ 5 Million USD from the prefarm.
The questions are:
- How many prefarm XCH will get sold the next years and how often? This risk now is clear visible.
- How is the financial situation that selling part of the prefarm was worth the lost in trust?
- How far in the future is the IPO?
- How is the situation about potential B2B customers and partners?
In case it isn't that bad the XCH downtrend could turn around. More bad news on the other hand could create a massive loss in value. In my opinion the risk is very high, higher than before. I am not sure if that is realy reflected in the price, so the new "maybe bottom" is weak.
XCH trend was always off the general crypto market even that the trend influences the XCH trend. XCH and Chia Network as a brand is also not worth much currently. Outside of the Chia space it is unrecognised, forgotten or viewed as a scam. But this is not necessarily a bad thing at this point.
The questions are:
- How many prefarm XCH will get sold the next years and how often? This risk now is clear visible.
- How is the financial situation that selling part of the prefarm was worth the lost in trust?
- How far in the future is the IPO?
- How is the situation about potential B2B customers and partners?
In case it isn't that bad the XCH downtrend could turn around. More bad news on the other hand could create a massive loss in value. In my opinion the risk is very high, higher than before. I am not sure if that is realy reflected in the price, so the new "maybe bottom" is weak.
XCH trend was always off the general crypto market even that the trend influences the XCH trend. XCH and Chia Network as a brand is also not worth much currently. Outside of the Chia space it is unrecognised, forgotten or viewed as a scam. But this is not necessarily a bad thing at this point.
