I came across this awesome contestRound 7.
by @tonyr thanks to @immarojas and this is my entry for
| Coin | Units | Buy Price | Bitcoin Invested |
|---|---|---|---|
| HempCoin (THC) | 85,995.086 THC | 0.00000814 | 0.7 BTC |
| SiaCoin (SC) | 410,958,90 SC | 0.00000073 | 0.3 BTC |
| Total | 1 BTC |
Analysis
Now that BTC has settled (for a bit), it's time for the old promising alts to shine. For this week i'm still looking at charts and watching closely to those coins that have long been accumulating and have a steady/healthy rise - meaning no overshoots in price and sudden fluctuation like this one from HempCoin:
I've been mining SiaCoin for quite some time now and it was tough seeing the long accumulation period for this coin. Maybe too much mined coin without the utility (actual users who used p2p cloud storage) has affected the equation (Law of supply and demand). Looking at the charts, it seemed to be moving somewhere positive and noting that few months ago the price was like above 100 satoshis so maybe this is a good sign.
Disclaimer
Trade at your own risk. The above analysis is my own view and I take no responsibility of your trading behavior. It is best to do your own research and analysis. Take my points lightly :)
To find out how to join this contest please read the post here.
VOTE @precise for witness at https://steemit.com/~witnesses
Header Image by @tonyr
The awesome footer is graciously made by @bearone
I'm also looking at joining this competition!
You must have great insight towards SiaCoin if you've been mining it.
you should join the contest. it's not too late and it's a good way to practice trading strategies without the risk of losing real money. I have been mining siacoin for almost a year now and just stacking those coins for the future. Too much supply of the coin (due mainly from mining) have flooded the market without a significant rise in utilization (demand) suppressed the price really low IMO. The problem with this coin is if it won't see traction in the couple of months, competitors will them and they will die a natural death :( hope by then i can sell all :)