As is true with all alt coins, DGB is a slave to Bitcoin with respect to price movements. If the price of BTC continues to get slaughtered then expect severe capitulation for DGB.
It is important to keep everything in perspective. In my opinion, Digibyte is the absolute best UTXO blockchain in the world for these reasons:
1. Scalability
a. Block size doubles every two years
b. 280,000 transactions per second by 2035
2. Speed and Volume
a. 15 second blocks
b. 560 transactions per second (doubles every two years)
3. Security
a. 5 mining algorithms
b. Digishield and Multishield
c. 51% attack resistant
4. Decentralization
a. 200,000 + nodes
b. Global
c. Open source project
5. Transaction fees
a. 2,000 transactions for < $.01 (super important)
That being said, today's price of DGB has nothing to do with fundamentals. It follows the movements of Bitcoin. Therefore, be psychologically ready for downward movement should Bitcoin continue to tank in value.
Conclusion:
Accumulate on a support line. Buy in pieces, if you so desire, since we don't know the exact bottom. DGB will rise in the future but we can't expect that in a bearish market.
This post isn't investment advice.
It is important to keep everything in perspective. In my opinion, Digibyte is the absolute best UTXO blockchain in the world for these reasons:
1. Scalability
a. Block size doubles every two years
b. 280,000 transactions per second by 2035
2. Speed and Volume
a. 15 second blocks
b. 560 transactions per second (doubles every two years)
3. Security
a. 5 mining algorithms
b. Digishield and Multishield
c. 51% attack resistant
4. Decentralization
a. 200,000 + nodes
b. Global
c. Open source project
5. Transaction fees
a. 2,000 transactions for < $.01 (super important)
That being said, today's price of DGB has nothing to do with fundamentals. It follows the movements of Bitcoin. Therefore, be psychologically ready for downward movement should Bitcoin continue to tank in value.
Conclusion:
Accumulate on a support line. Buy in pieces, if you so desire, since we don't know the exact bottom. DGB will rise in the future but we can't expect that in a bearish market.
This post isn't investment advice.
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Momentum on monthly chart:
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Monthly MACD looking very bearish:
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Monthly stochastic RSI severely overbought:
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Monthly RSI coming down:
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Madrid sine wave needs to come down to -1:
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Weekly momentum extremely bearish:
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Weekly bearish MACD crossover:
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Weekly RSI heading down:
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Bearish MACD cross on daily chart:
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Stochastic RSI on the daily is heading back to the bottom:
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Expect the price to tank if a death cross occurs. A death cross happens when the 50 day smooth moving average crosses the 200 day.
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@ Andrew138,
Thank you! I really appreciate that.
Thank you! I really appreciate that.
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@the_crypto_mindset,
Thanks Nehemiah!!
Thanks Nehemiah!!