We are currently in the 3rd wave up for SXP on its journey to the top of this ascending macro channel. I believe we will hit $6 or thereabouts before correcting down to $3.30 or thereabouts prior to making the push up to double digits in wave 5. In order for this to play out I am assuming BTC hits 50K shortly (that way targets would line up on the SXP/BTC chart as well) and price action (price fractal) will be similiar to last years run to $5.
So, you like Swipe? You dont think that their model for card staking manipulates the price in a certain direction? requiring 100k for the slate card? How would they deal with it when the price goes up?
mranatunga
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@WithAim, The slate card isn't the only option available. Regardless the slate card is an exclusive product with great benefits. The barrier to entry being high makes sense. You must have heard of the AMEX black card. Think of the slate card as similiar.
Besides, the card service is only one vertical of the project as Jlswipe mentioned. They are loooking to launch swipeswap similiar to sushiswap, they have IWO's, swipe savings etc
Focusing just on the card issuance aspect of swipe is like missing the forest for the trees.
WithAim
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@mranatunga, I agree with everything about the utility of swipe, for sure. I just think 250k is too much, and theyll have to reduce the required amount. Very excited for what others things theyll come out with. Was only curious of your opinion and playing devils advocate.
mranatunga
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@WithAim, A healthy discussion is always welcome :) You maybe right. 250K lockup might discourage people from signing up for the slate card and they may lower the limit. However I feel the bulk of the cards they issue will be lower tier cards with lesser rewards. Most crypto folks will be happy to just have a card through which they can spend crypto directly. The rewards are just a cherry on top.
WithAim
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@mranatunga, omg I love using crypto as funding. Amazing. Very bullish. Heard people say changing swipe tier is manipulative, but I don’t understand that sentiment.
Floridian2022
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Thank you for analysis 🙏 is it good time yet to buy or wr should wait till goes lil down ?
mranatunga
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@Floridian2022, you have 2 options. Right now we are up against some heavy resistance. You can wait for it to clear and for price to settle above $3 - $3.20 (Daily close) and then buy. There is very minimal resistance above $3, so once we clear it I expect us to move up quick.
Or the slightly more risky option is to get in now and wait patiently as price works its way through this resistance. You will have a better entry at sub $2.50 and catch more of the upside but run the risk of your money being invested in SXP a little longer. Hope that helps!
Floridian2022
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@mranatunga, thank you very much , i appreciate it