When comparing Algorand to a few other altcoins, I can't help but think, why on Earth is Algorand holding back so much? When Analyzing all these Alts and even though their tokenomics vary to a great degree, I've noticed band's chart looks extremely similar to that of Algo's up until mid April of 2020 only Algo is taking much longer than any other alt. This begs the question, why is the price being surpressed so much?
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XRP is about to reclaim it's throne as the all time king of the worst performing Altcoin of all time. No way Algo will hold that title for much longer.
Hello, what is your opinion about algobull? How many dollars will it be in 2021?
axelrodd
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I'll assume you understand what a daily rebalanced compounded 3x leveraged ETF is, so I'll skip that part. Initial price was first released at 121 dollars. Today, one Algobull is worth $0.00056. Ever since normal Algo spot was first released, it depreciated up to -90%. Same as with Algobull when you count 13 levels down from initial price. So putting that into perspective while ignoring exchange's rebalancing daily close manipulation, poor Algorand sentiment and high volatility:
01. $121,00 = 0%
02. $ 40,33 = -7%
03. $ 13,44 = -14%
04. $ 4,48 = -21%
05. $ 1,49 = -28%
06. $ 0,49 = -36%
07. $ 0,16 = -43%
08. $ 0,055 = -50%
09. $ 0,018 = -57%
10. $ 0,0061 = -64%
11. $ 0,0018 = -71%
12. $ 0,0009 = -77%
13. $ 0,0002 = -90%
Now for Algobull to "recover", (remember, this isn't a spot token). Let's imagine Algo does what Band did, so it starts to go up gradually and then suddenly from 45 cents to 53 cents, then 57 cents, then 95 cents, 2 dollars and so forth all the way till 10 to 15 dollars dollars. Depending on how sustained the pumps are, algobull may never recover to even a dollar. But let's do the math anyway just for the sake of it. Current bottom is 0.0002, which matches 26 cents. If price doesn't go down below 40 cents anymore, we can only assume algobull is going to match upcoming bullish price action from here on. That said, when Algo reaches 5 dollars, 1 thousand percent rise in algobull would mean 3 thousand % (3000% = 30x). I'll assume daily rebalancing starts to favor bullish sentiment and profits are kept. Or at least I would hope SBF would respect that on FTX. So the algobull top at 5 dollars is about 0.025, depending on how compounded and sustained the path to get there is. Now if Algo keeps going like band did and we manage to go to 10 dollars or even past that, anywhere from 10 cents to 30 cents is a real possibility. I'll assume Algo dumps to 3 dollars after it reaches 5 dollars, so let's pretend algobull dumps from 2.5 cents all the way down 0.0061. Now let's imagine a scenario where algo goes at it again and pumps past 10 dollars with a little fomo. a 30x to 50x from those levels puts algobull at a top of around 18 cents to 30 cents guaranteed. So the total recovery from current levels would be 24300% from 0.00068 level 12, and 729000% from current absolute bottom at level 13 of $0,0002. Pretty insane but possible no doubt.
alihosseinian2020
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@axelrodd Thank you for your good and successful guidance 🤩
axelrodd
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@alihosseinian2020, now is an amazing time to buy algobull. Look at July 26th 2020 daily bar on algo/usdt. What a gift, you can get 100 million tokens with only 30k while keeping a nice stash in spot
alihosseinian2020
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@axelrodd Do you mean that 26 jul 2020 wants to be repeated? Uptrend? pump?
faroukeh
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Greaat
CRYPT0Milkman
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Had done similar analysis. It's not crazy for this thing to be trading at 5 - 10 bucks in next 5 years. Just buy a stack set some bids come back to it in 5 to 10 years. This time is really is different. Slowly, slowly then all at once.
axelrodd
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@LINKMARINE369, hehe you haven't considered mooore's law, when Nasdaq hit a peak in 2001 it took 6 years to perform a sucker's rally after 2 year correction. Bitcoin however did it in only 6 months after a one year correction. Now let's take a look at Apple fractals back from 2005. 5 Years after the dotcom bubble. Apple took 16 years to hit 100 dollars, apply mooore's law and that's 1.6 years from now. It matches the multitrillion dollar altseason that's being staged for the world to witness. You could be buying the next Apple for cents right now