An interesting take on the Siacoin SC/BTC ratio and fractals:
Siacoin is fundamentally a good project with a talented dev team and one of the few coins I like with a use case other than a currency (decentralized cloud storage).
Technicals
Yearly BBands on the daily have tightened to the point that volatility on long time frame is low. BBands opening signals the start of ratio increasing.
MACD on the weekly shows bullish diverg SC/BTCence and that a reversal is imminent
SCBTC fast approaching 4/1 Gann Fan Level
Weekly EMAs are quickly converging signaling future bullish momentum
Repeating fractal patterns from previous cycles show that the SCBTC ratio has the potential to increase in a parabolic fashion
Siacoin has historically rallied up towards June (refer to previous 2 cycles)
The coin supply is about double what it was in 2017/18. So, it could top out at 400 sats.
Of course this Bull Run is way bigger, but there are more projects as well. But the baseline is 400, not 800.
lightknight
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@ardia, Well let's see. If coins such as DOGE are able to hit 7c and hit previous ATHs on the ratio, I don't see why SC can't reach its old ATH.
ardia
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@lightknight, Doge's supply increase is miniscule compared to Sia's. Doge went from ~110Bil to 130Bil. 18%. Sia went from ~23Bil to 45Bil. 100%.
lightknight
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True true, and also the block reward is being kept the same, but let's wait and see.
uziboozi
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But nw since we have the foundation in place they will eventually introduce burning tokens after they're setup
Of course this Bull Run is way bigger, but there are more projects as well. But the baseline is 400, not 800.