First off this this is not intended to bash CHC, as I hope the pump and HODL movement does succeed using this strategy. And I believe a community as big as CHC will help it prosper in the long run.
However at this point and time, I do think this coin is at a critical crossroad for the pump and HODL experiment and its identity, but this might be one of CHC's best feature if I am right about this theory and thus making the coin very valuable.
After it hitting a high of almost 7 dollars last week, the price plummeted to the low 2 dollar range the following day. However this last weekend it looked to have recovered back into the high 4 dollar range with a 50% increase in value, while literally every other coin in the market was in the red and lost value.
It is still very early, but the trend I am beginning to notice, that might back fire(or a possible blessing in disguise) on the pump and HODL movement, is that whenever the majority(especially the entire) market is doing bad, CHC goes up in value. When the majority of the market is doing well CHC drops in value.
These fluctuations in price have made the coin ironically one of the more volatile coins on the market, when pump and hodl is suppose to give it steady healthy growth.
The way I noticed the correlation between the market and CHC, was yesterday the majority of the market began to fall into the red, at that same time the CHC value jumped from approx $1.80 to $2.20.
The market dropped only for a few hours and when it went back into the green I saw CHC drop back in value by 30 cents and it has been dropping since
What my theory about this inverse correlation between the market and CHC is that in a bear market people usually pull some or all their money out of their cryptos and put them in tether/USDT so they don't lose money. Now knowing there is a huge community of HODLers in CHC, a good amount of people who would usually put their money in tether will now put their money in CHC.
More people are catching on to do this because they know that the community will hodl no matter what the market conditions are. This results in them making a good amount of money if not more money than their usual coins they hold.
In conclusion will Chaincoin be the go to coin for people to store their money in a bear market knowing they will make strong gains vs nothing in tether or losing 30% of their money if they didn't move any of their money at all?
If this does happen then I think it can be a good thing since the number of people that would be doing this will continue to grow, eventually making the coin's value go up to $100 dollars per CHC.
CHC will by far have one the most valuable features for a coin.That feature is a strong community of hodlers basically guaranteeing a return on profits for people who store their coins in CHC when the market is down!
*Commenting for later
no problem thank you
It is very confusing Guy MAX do sound and look honest .. but there is so much going on and it is crazy that 1 guy or a concept can dictate the whole movement or concept .. from one view it all makes sense .. but from other end it makes NO sense at all .. However it is a Gamble for me and despite everything i am holding around 1500 CHC .. Cheers
I agree with with your points about Max being an honest guy. He does come off very genuine as well. Every crypto currency is a gamble at this point since the market is still at its infancy stage. Hell for all we know by this time next year bitcoin could be surpassed not only by ETH but many other coins and its value could be 200 dollars. Though there is a very slim chance that would happen the point is that no coin is a sure thing right now.
I going to keep my eye on it for a few more weeks and see if my theory is true about it being correlated to the market going in regards to CHCs value
rtunately bought
If you agree with this theory of mine please resteem to get the word out to to others about this coin changing feature that the strong community support was able to give it. And wow if I may ask how much was each coin when you got 1500 of them. I only was able to invest about 50-55 dollars for the coins and bought at around the $5.50ish mark.
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