[LOOM/BTC] LOOM NETWORK: A bullish & bearish Outlook
LOOM NETWORK
LOOM, recently added to Binance just last week, was a play I made far to late at night and to my surprise should have stayed in, because holy crap this guy has been exploding.
ORIGIN STORY
I found myself pulled into this one by lust for the gamble and greed.
Once I was alerted that LOOM was being added to Binance, something around 3AM, I figured I would try to pull some gains from the volatility that comes with hype.
Before I threw any money in this pit fire, I did what any decent person should do and did at least 2 seconds of fundamental research.
IT WASN'T PRETTY --- BUT MAYBE I'M WRONG.
However I'm not afraid to admit that I'm a completely flawed and imperfect human being that has caught myself doing the opposite of what I thought was the right decision.
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Loom presents themselves as: "The next-generation blockchain platform for large-scale online games and social apps." *loomx.io
They focus primarily on DAppChains, full-featured blockchains that are built to run in parallel to Ethereum Smart Contracts. They’re an advanced form of Ethereum sidechains optimized for scaling data rather than financial transactions."
With this they build games and social apps through the loom network.
Thats all good and all--- BUT BIG RED FLAG! No whitepaper. Not even a blackpaper -c'mon corny?
They preach "We don’t write whitepapers. We ship product."
Cool.. Cool Cool Cool.
However I was able to find some kind of loom network whitepaper from the past on google, and it wasn't jaw dropping in my opinion, if you want to take a look at it, here you go.
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THE LOST WHITEPAPER: solidityx.org/whitep...om-whitepaper-v1.pdf
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My next issue, which I find is very common in this space, is that the entire team are all kids, with very little-to-no experience.
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Regardless of all of this, LOOM has been making MASSIVE gains and as I'm a retail investor with a slight lack of shame, I don't really give a shit about fundamentals if I'm not investing, I just like making gains. I'm not the most important person in the world and if people like an asset, then they like an asset, I'll go on a train ride with them - No problem!
So here we go, I've got a BULLISH ON TOP OF A BEARISH CORRECTION WITH MOST LIKELY A DOUBLE BOTTOM PREDICTION.
I could see this thing going either way, however because of the bullish sentiment that this coin has been experiencing, I am leaning further on the bullish outcome for this asset.
CURRENT PRICE
$0.657461 USD (21.01%)
0.00007015 BTC (23.55%
Market Cap
$381,185,616 US / 40,672 BTC
Volume (24h)
$49,191,200 USD / 5,249 BTC
Circulating Supply
579,784,376 LOOM
Total Supply
1,000,000,000 LOOM
(57.97%)
LOOM, recently added to Binance just last week, was a play I made far to late at night and to my surprise should have stayed in, because holy crap this guy has been exploding.
ORIGIN STORY
I found myself pulled into this one by lust for the gamble and greed.
Once I was alerted that LOOM was being added to Binance, something around 3AM, I figured I would try to pull some gains from the volatility that comes with hype.
Before I threw any money in this pit fire, I did what any decent person should do and did at least 2 seconds of fundamental research.
IT WASN'T PRETTY --- BUT MAYBE I'M WRONG.
However I'm not afraid to admit that I'm a completely flawed and imperfect human being that has caught myself doing the opposite of what I thought was the right decision.
--------------
Loom presents themselves as: "The next-generation blockchain platform for large-scale online games and social apps." *loomx.io
They focus primarily on DAppChains, full-featured blockchains that are built to run in parallel to Ethereum Smart Contracts. They’re an advanced form of Ethereum sidechains optimized for scaling data rather than financial transactions."
With this they build games and social apps through the loom network.
Thats all good and all--- BUT BIG RED FLAG! No whitepaper. Not even a blackpaper -c'mon corny?
They preach "We don’t write whitepapers. We ship product."
Cool.. Cool Cool Cool.
However I was able to find some kind of loom network whitepaper from the past on google, and it wasn't jaw dropping in my opinion, if you want to take a look at it, here you go.
--------------
THE LOST WHITEPAPER: solidityx.org/whitep...om-whitepaper-v1.pdf
--------------
My next issue, which I find is very common in this space, is that the entire team are all kids, with very little-to-no experience.
--------------
Regardless of all of this, LOOM has been making MASSIVE gains and as I'm a retail investor with a slight lack of shame, I don't really give a shit about fundamentals if I'm not investing, I just like making gains. I'm not the most important person in the world and if people like an asset, then they like an asset, I'll go on a train ride with them - No problem!
So here we go, I've got a BULLISH ON TOP OF A BEARISH CORRECTION WITH MOST LIKELY A DOUBLE BOTTOM PREDICTION.
I could see this thing going either way, however because of the bullish sentiment that this coin has been experiencing, I am leaning further on the bullish outcome for this asset.
CURRENT PRICE
$0.657461 USD (21.01%)
0.00007015 BTC (23.55%
Market Cap
$381,185,616 US / 40,672 BTC
Volume (24h)
$49,191,200 USD / 5,249 BTC
Circulating Supply
579,784,376 LOOM
Total Supply
1,000,000,000 LOOM
(57.97%)