I watched Siacoin this evening during the BTC pump, and it impressively held its ground with very strong support underneath. A trend is beginning to show, and it looks like Siacoin will be ready for its rise back up, especially given its new integration with Minio, which gives them Amazon S3 compatibility. This is just one more step towards real world use and applications. This should set-up a series of news cycles that will bring with it mainstream attention. With hedge funds and institutional investors looking for these types of real world applications, Siacoin is very well set for the coming crypto rise. I suggest a long term hold of Siacoin with the real possibility of doubling in the next 2 months. These were the same signs I saw with BTS when I made the call for them before its meteoric rise. There is a lot more potential, but doubling of price over the next 2 months is a conservative estimate.
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We got the first reversal signal today for SC. The next confirmation we need is a break of 300 sat. Last night was an intense assault in downward pressure and the price poked its nose through the bottom trend line before rebounding back upward. This is again bullish for price at this point. I was also reading on some forums about people complaining about SC price, but I think that the previous pumps in SC have put people out of perspective. SC has done very well with price appreciation, and you need to put your charts into dollar terms to see this price trend. You can do this by typing in SCBTC*BTCUSD where you select your coin choice. This will remove the pertubations due to bitcoin price movement since SC has no dollar equivalent. That price trend looks like this and is very bullsih since July 17th:
Broad market dump for the alts today. SC took the deepest plunge on Poloniex and I used the opportunity to buy more SC when it went below 240 sat. I don't try to find bottoms, but I buy to average on the way down. It's good to see the sellers panic dump as we need to shake out the weak hands to allow some of these cryptos to begin their catapult upwards.
Prothius187
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Consolidation is almost finished as we complete the last wave.
alexgrama
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I'm 2.5 Mil SC in... going long as well
Prothius187
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@alexgrama, Nice. I did a 6M SC buy last night, and I'm accumulating another 6M SC today.
alexgrama
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@Prothius187, did you notice the massive sell orders people place every 15-20 Satoshi ? At least in Poloniex... It will most likely bounce back and forth on its uptrend. I have presented an idea https://also...https://www.tradingview.com/chart/SCBTC/84rvWh9a-SCBTC-long-term-prediction/
Prothius187
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@alexgrama, Yep I noticed it on polo last night. They put a huge buy wall in place, and then pulled it and started selling. I think they were trying to turn sentiment for their shorts. They were still unable to break past 270 sat, even with their selling pressure, so I'm pretty confident in an SC recovery at this point. I think your graph above will be true for the first few weeks, but afterwards it should smooth out as direction is more clear.
johangro
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I got 200k Siacoin. I'm definitely not selling soon
Prothius187
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@johangro, Awesome. Siacoin is definitely a hodl right now as this may be the last time we're ever this low again.
johangro
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@Prothius187, I've just added another 200k. Let's hope for a quick rise :)
Prothius187
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@johangro, Great, good luck to all of us in this trade :)