Because of Bitcoin's recent uncertainty, Decred, along with many others, broke their long term trend line. This seems like a bad indicator overall, maybe even a hint at a bear market. But I'm super bullish on Decred, and here's why-
1. Decred will have a hard fork in 6ish days, but it will make history as this is the first ever main net fork implemented by an on-chain governance structure. A first in crypto-currency history.
2. Any time now, and I mean ANYTIME NOW, the developers will be announcing their plans for privacy, which in their words will be a "substantial departure" from what is currently in use by Monero (RingCT) and Zcash (ZNP's). I have a feeling this is going to rock the foundation of privacy in this space. The lead dev has also stated that he wants Decred to have mandatory privacy, which is the only true way for a coin to be fungible. Monero has that crown at the moment because it's awesome. But Decred has something major up it's sleeve.
3. The developers usually under-promise and over-perform. I think we'll have hardware wallets very soon, and multi-sig/LN sooner then they're leading on.
4. The supply is still super low, and half of it is locked up in POS staking. Have you seen the liquidity on this thing? It sucks. Trying to buy or sell even small amounts effects the price dramatically.
5. Charlie Lee, the legend, says Decred should be a top 10 coin. He's one of the smartest people in this space. My targets below make sense in that light.
Now onto the chart-
5. I don't normally use Godmode, but I really like it. Last time the levels were this low (around 19) was right before the monster pump earlier this year.
6. I keep saying over and over, the longer DCR stays near the bottom trend line, the more the pressure builds, like squeezing a heavy coil.
7. My earlier target was .033, but because of the last point, we're easily looking at .079 now. Even crazier is .16. And then there's another possible target so high, so ridiculous that I can't even bring myself to say it. I don't know how long it will take to hit the first two targets, but it will happen.
Imagine Black Friday shoppers lining up outside the doors at the mall...pressure increases...pressure increases...then BOOM the doors open, people rush in, there's blood on the floor from people toppling over each other trying to get these prized items on sale.
1. Decred will have a hard fork in 6ish days, but it will make history as this is the first ever main net fork implemented by an on-chain governance structure. A first in crypto-currency history.
2. Any time now, and I mean ANYTIME NOW, the developers will be announcing their plans for privacy, which in their words will be a "substantial departure" from what is currently in use by Monero (RingCT) and Zcash (ZNP's). I have a feeling this is going to rock the foundation of privacy in this space. The lead dev has also stated that he wants Decred to have mandatory privacy, which is the only true way for a coin to be fungible. Monero has that crown at the moment because it's awesome. But Decred has something major up it's sleeve.
3. The developers usually under-promise and over-perform. I think we'll have hardware wallets very soon, and multi-sig/LN sooner then they're leading on.
4. The supply is still super low, and half of it is locked up in POS staking. Have you seen the liquidity on this thing? It sucks. Trying to buy or sell even small amounts effects the price dramatically.
5. Charlie Lee, the legend, says Decred should be a top 10 coin. He's one of the smartest people in this space. My targets below make sense in that light.
Now onto the chart-
5. I don't normally use Godmode, but I really like it. Last time the levels were this low (around 19) was right before the monster pump earlier this year.
6. I keep saying over and over, the longer DCR stays near the bottom trend line, the more the pressure builds, like squeezing a heavy coil.
7. My earlier target was .033, but because of the last point, we're easily looking at .079 now. Even crazier is .16. And then there's another possible target so high, so ridiculous that I can't even bring myself to say it. I don't know how long it will take to hit the first two targets, but it will happen.
Imagine Black Friday shoppers lining up outside the doors at the mall...pressure increases...pressure increases...then BOOM the doors open, people rush in, there's blood on the floor from people toppling over each other trying to get these prized items on sale.
The last time DCR was this underbought, had -3 levels on Godmode+Squeeze, had low RSI and Stoch RSI, and was about to come out with big news...IT HAD A 10-13X PUMP.
Just call me the Decred Prophet. It's OK, I'll wait. Take your time.