Dear ChainCoin HODLers,
It’s definitely been an interesting week in the cryptosphere with total market cap of cryptocurrency blowing through 150 billion dollars! Now, the good news is that Bitcoin dominance is down at 45.4%(as of this writing) and that is great for altcoins in general as it means money is flowing from Bitcoins to alts.
Now, the problem we are still facing with ChainCoin is the fact that a lot of people are still dumping the coin and I see that as soon as we make some ups, people start dumping. One of the biggest problems with ChainCoin is that the supply is too high in relation to its price. While a lot of the supply could have been bought when ChainCoin was below 10 cents, we are now at a point where supply is hard to choke up. In comparison, you could buy up a lot of supply on a newer coin like DAS, which can buy you up near 10 times more ChainCoin at current prices.
So what then? We still need more people to buy up the coin for cheap and HODL. If we have hit bottom price, which I think we have, this may be a good time to buy. However, if there are more people in the RichList ready to dump their coins for profit, price may go lower. We need to be careful of what is going on and for most of us we just need to actually ignore it and HODL.
I think patience is key. I am HODLing all my ChainCoins since they are all running masternodes and producing new ChainCoins daily, not buying or selling. But once we hit bottom with 100% confirmation(that’s when ChainCoin goes above 50 cents and stays there) I think things will stabilize a bit more and help you HODL better.
Of course, don’t limit yourself to ChainCoins only. When we started the experiment, we weren’t doing any ROI/supply analysis. While we are are HODLing ChainCoins, we have started a few more experiments with coins like ENT and DAS, which the HODLers are slowly buying up the supply and have best ROI/supply in the masternode coin world. I would also watch SYNX carefully as it is on a downward trend for the last few days but ready to hit bottom and come back up, SYNX is also very good ROI/supply that is already on Bittrex.
Galaxy Note 8 is also announced today, that could be the ultimate crypto smartphone you can buy so you can trade better with an extra-long screen along with S-Pen that allows you to hit even minute menu buttons easily. I should also have a review of that soon for the crypto-traders.
Anyways, have a great day folks and stay STRONG, let the POSITIVE vibes win over the market!
Best,
Max Lee
HODL HODL HODL