With a little bit more of a bullish sentiment in the market, I believe things are starting to turn around and as such, I have been toying with which alts to include in my portofolio for this next bull run. This is one alt that hit its peak last September and has been on a quiet and steady decline ever since. It was a favorite of mine that offered key tech unique to other alt projects (SmartBridges, ACES, DPoS, IPFS, ARK Virtual Machine). But with little positive price action since September 2017, I think ARK fell off a lot of people's radars, so I decided to take a look at the charts.
Ark came to crypto-space back in April 2017, which was really the ideal time to come to the market as it was the start of a lot of massive bull runs for alt coins (Ethereum and ZCash are two big ones that come to mind). By September 2017, Ark grew ~47x in value! When you come to think of it, it is no wonder that it has taken almost a year to for this alt to prime itself for the next run. Looking at the current price action, ARK has already surpassed the .786 Fib retracement mark and appears to have possibly double bottomed off a historical support line. You can see bullish divergence on the MACD and RSI indicators. In fact, the MACD has already broken the overhead resistance that has been pushing the price down since last September. I think this bullish divergence may be a hint of things to come.
If you look at the project's Roadmap (ark.io/roadmap) you will see the developers decided to indicate a percentage of completion for each goal rather than set a deadline. The ARK team is not big on hype and clearly this the best way for developers to show how close they are to completing a goal rather than setting a date for release/completion and upsetting investors when that deadline is not met. While this makes it more difficult for investors to know when goals will be met (which are often reasons for price jumps), at least you know that the ARK project won't let you down with missing deadlines after pumping their near completion. Plus you are guaranteed quality work rather than rushed, shotty sh*t.
As with all projects, I suggest you do your homework, but hope I may have piqued your interest into ARK. As investors and newbies to the cryptospace, we often get caught up in all the price action and take little concern for the technology being offered. Don't be that guy (or gal). Hype does not equal adoption. Find projects that offer coins that serve a purpose and will be adopted in the long run, not just hyped. Good luck!
Ark came to crypto-space back in April 2017, which was really the ideal time to come to the market as it was the start of a lot of massive bull runs for alt coins (Ethereum and ZCash are two big ones that come to mind). By September 2017, Ark grew ~47x in value! When you come to think of it, it is no wonder that it has taken almost a year to for this alt to prime itself for the next run. Looking at the current price action, ARK has already surpassed the .786 Fib retracement mark and appears to have possibly double bottomed off a historical support line. You can see bullish divergence on the MACD and RSI indicators. In fact, the MACD has already broken the overhead resistance that has been pushing the price down since last September. I think this bullish divergence may be a hint of things to come.
If you look at the project's Roadmap (ark.io/roadmap) you will see the developers decided to indicate a percentage of completion for each goal rather than set a deadline. The ARK team is not big on hype and clearly this the best way for developers to show how close they are to completing a goal rather than setting a date for release/completion and upsetting investors when that deadline is not met. While this makes it more difficult for investors to know when goals will be met (which are often reasons for price jumps), at least you know that the ARK project won't let you down with missing deadlines after pumping their near completion. Plus you are guaranteed quality work rather than rushed, shotty sh*t.
As with all projects, I suggest you do your homework, but hope I may have piqued your interest into ARK. As investors and newbies to the cryptospace, we often get caught up in all the price action and take little concern for the technology being offered. Don't be that guy (or gal). Hype does not equal adoption. Find projects that offer coins that serve a purpose and will be adopted in the long run, not just hyped. Good luck!