This idea is the amalgamation of multiple ideas into one. I'll flesh this out a bit. The all time low for hex (not featured on the chart) occurred on January 5th, 2020 where the price dipped to $0.00005655. In the early days of BTC, its price went on the following trajectory: 8.58 cents --> 5.05 cents --> 39 cents --> 19 cents --> $1.09 --> 68 cents --> $29.60. I think HEX is on a similar journey. The price currently sits just below 19 cents.
The orange arrow represents the average rate of change from the all time low to the target of $29.60. Observe how the arrow threads itself through the price on the weekly chart. At times, the price will diverge from the average rate of change only to return to it later.
Furthermore, HEX has painted one giant bull flag where the target of that pattern is the length of the flagpole which is about $27.35.
Moreover, HEX has strong fundamentals from a tokenomics perspective. About 96% of all hex in circulation sits in dormant addresses that have never sold a single token. HEX has centralized ownership.
And, the last time I checked, about 76% of all hex owned by regular users has been staked. Staked coins are burned out of existence so that they cannot be spent until a user mints the tokens. Severe penalties are in play for anyone that emergency end stakes before their contractual obligation has been completed.
Expiring stakes are decreasing over time. The average stake length is over 6 years and is increasing over time. Many users are buying hex and staking it before Ethereum forks into PulseChain. Users will get a duplicate copy of liquid and staked hex once PulseChain launches.
The HEX community has the best marketing in all of crypto. Many early adopters have the wealth to market HEX to new users. A Netflix documentary about HEX is currently underway and HEX is a sponsor for one of the car's at The Daytona 500.
All of these things in combination will help to drive the price in the up direction. HEX will be moving in dollars soon. You can either participate in the movement or watch from the sidelines.
**THIS IS NOT INVESTMENT ADVICE. THIS IDEA IS PURE CONJECTURE. NO ONE KNOWS THE FUTURE.**
The orange arrow represents the average rate of change from the all time low to the target of $29.60. Observe how the arrow threads itself through the price on the weekly chart. At times, the price will diverge from the average rate of change only to return to it later.
Furthermore, HEX has painted one giant bull flag where the target of that pattern is the length of the flagpole which is about $27.35.
Moreover, HEX has strong fundamentals from a tokenomics perspective. About 96% of all hex in circulation sits in dormant addresses that have never sold a single token. HEX has centralized ownership.
And, the last time I checked, about 76% of all hex owned by regular users has been staked. Staked coins are burned out of existence so that they cannot be spent until a user mints the tokens. Severe penalties are in play for anyone that emergency end stakes before their contractual obligation has been completed.
Expiring stakes are decreasing over time. The average stake length is over 6 years and is increasing over time. Many users are buying hex and staking it before Ethereum forks into PulseChain. Users will get a duplicate copy of liquid and staked hex once PulseChain launches.
The HEX community has the best marketing in all of crypto. Many early adopters have the wealth to market HEX to new users. A Netflix documentary about HEX is currently underway and HEX is a sponsor for one of the car's at The Daytona 500.
All of these things in combination will help to drive the price in the up direction. HEX will be moving in dollars soon. You can either participate in the movement or watch from the sidelines.
**THIS IS NOT INVESTMENT ADVICE. THIS IDEA IS PURE CONJECTURE. NO ONE KNOWS THE FUTURE.**