Ascending triangle with lower lows . Tested resistance thrice looking for breakout from 3.30$ to 3.50$
I dont trade I pick stocks I am comfortable holding would the price dip 30% i am happy to put on a larger position at a discount. Mgi now approaching a 6 month lead as the first adopter of this new tech . Though in this scenario first mover may not grant all the benefits as they are trailblazing and incurring the cost of setting up liquidity in this new network. That is to say that a 3rd or 4th mover may come in this summer and have more advantages as the network is up and running with liquidity.
In my mind Ripple and MGI know this very fact and have taken measures to ensure MGI gets that first mover advantage. Or maybe the fact the company was dying was enough to push MGI into adoption though I doubt that .
Mgi seems to move against the S&P which in my mind is great. This is a great equity hedge against an equity market at ATH
I dont trade I pick stocks I am comfortable holding would the price dip 30% i am happy to put on a larger position at a discount. Mgi now approaching a 6 month lead as the first adopter of this new tech . Though in this scenario first mover may not grant all the benefits as they are trailblazing and incurring the cost of setting up liquidity in this new network. That is to say that a 3rd or 4th mover may come in this summer and have more advantages as the network is up and running with liquidity.
In my mind Ripple and MGI know this very fact and have taken measures to ensure MGI gets that first mover advantage. Or maybe the fact the company was dying was enough to push MGI into adoption though I doubt that .
Mgi seems to move against the S&P which in my mind is great. This is a great equity hedge against an equity market at ATH