BAO has finally broken out of the 9 month trend and seems to be forming somewhat of a bull flag which is a bullish TA pattern.
Fundamentally we still have a majority of APPROVAL votes for BIP-6 which is healthy for the price of BAO with 2 days let until this closes.
Risks for BAO price
-A whale with huge voting power can swing BIP-6 to be Denied (Alameda Research is a huge holder of BAO...may or may not have voted)
-Mid-term risk Hard Synthetics takes a lot longer to be released that expected...(in this case we would not know until we hit 2022)
The team is very active in the Discord and the chatter has been at a high that has not been seen for a while.
Waiting for Hard Synthetics to be announced and will follow up in how that will be tracking in the months to come.
From a trading perspective BAO is still very volatile for even though I am posting this in BAOPERP I am buying and holding to withstand any volatility ot the down side.
My plan is to participate in Hard Synthetics as I have a few potential use cases for them and it is proposed that BAO needs to be burned to mint Hard Synths.
DYOR always.
Fundamentally we still have a majority of APPROVAL votes for BIP-6 which is healthy for the price of BAO with 2 days let until this closes.
Risks for BAO price
-A whale with huge voting power can swing BIP-6 to be Denied (Alameda Research is a huge holder of BAO...may or may not have voted)
-Mid-term risk Hard Synthetics takes a lot longer to be released that expected...(in this case we would not know until we hit 2022)
The team is very active in the Discord and the chatter has been at a high that has not been seen for a while.
Waiting for Hard Synthetics to be announced and will follow up in how that will be tracking in the months to come.
From a trading perspective BAO is still very volatile for even though I am posting this in BAOPERP I am buying and holding to withstand any volatility ot the down side.
My plan is to participate in Hard Synthetics as I have a few potential use cases for them and it is proposed that BAO needs to be burned to mint Hard Synths.
DYOR always.