Iconomi Up / SiaCoin Down / Veritaseum TANKS / BTC & IOTA Survive (Market Roundup 21 Jun 2017)

marketingmonk (71)in #bitcoin • 7 years ago (edited)

Bitcoin recovers a bit of market share, up to 39.4% today from 37.3% yesterday. This is largely due to Ethereum's 7.3% drop.

In terms of the technical analysis Bitcoin looks now to be ranging between 2600 and 2800 while LiteCoin may have found a new floor at $42.

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#siacoin #iota #iconomi #ethereum

7 years ago in #bitcoin by marketingmonk (71)

$33.83

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budz82 (54) 7 years ago

Great video. Also I agree with the other commenters that the split video is better so hope you stick with that. As for Iconomi, I bought in a few days ago when it reached its lowest ICN:ETH ratio ever which was a perfect place to buy in at. Since then it has surpassed most peoples expectations (many were expecting ~$5 but not until after the launch in August), but soon I feel many people will find its value to be much higher then they originally expected. A lot of people are now unsure whether its a good coin to buy into as they feel they may have missed the boat, but I personally feel that couldn't be further from the truth.

Here are a few of my main reasons the recent ICN moon shot is just the beginning.

Iconomi has yet to do a single quarterly buyback and burn cycle (the first one is set to take place at the very end of June if I am not mistaken). This buyback will take place at market value with a fairly large amount of money which will force the price to rise a fair bit (yes speculators will likely cause this rise to drop back down but it will still likely remain as a fairly large gain once everything settles)
ICN is not yet added to a single Chinese or Korean exchange. Once ICN is added to at least 1 exchange in each of these high-volume crypto-countries, it will cause the price to jump by a fair amount and massively increase awareness of ICN and the Iconomi platform itself
ICN is currently only on 1 large US exchange (Kraken) and has not yet been added to the other big exchanges (CoinBase, Pollinex, Gemini...). Once this happens again it will also cause the price to jump by a fair bit and again massively increase awareness of ICN and the Iconomi platform itself.
Iconomi has not yet released its platform to the public which will be a major game changer when it happens in less then 2 months (Aug 1st). The launch of the platform to the public will almost certainly cause major jumps in the ICN price leading up to this date, and shortly after.
The Iconomi platform once launched is likely to draw in a large amount of newer crypto investors for many different reasons, such as as it simplifies the crypto buying process, it allows for buying into a large range of cryptos which may currently only exist on different exchanges then each other, it allows the investors money to be insured unlike most exchanges, it allows investors to diversify their investment reducing overall risk, it allows users to cash out cryptos directly to fiat (example: ICN/USD, something which is currently not available on Kraken) and on and on.
A decent number of people who decide to use the Iconomi platform after public launch are likely going to invest at least part of their investment in ICN
ICN is currently hovering around the #20 position for total market cap of all cryptos (up from close to 30th just a few days ago). Over the next few weeks it will likely creep its way into the top #10, further cementing its role as one of the more dominant cryptos out there (achieving 10+ position would translate to at least a doubling of its current value)
Leading up to August 1st Bitcoin is likely going to go through a highly speculative period due to all the uncertainty surrounding this time period. Leading up to this date you will likely see a decent amount of Bitcoin investors move their investment into other coins to avoid the uncertainty relating to bitcoin during this time (bitcoin is usually quite stable and investors know this, but around this time it will be a lot less stable causing many to move their money into other cryptos that may be a bit more predictable at the time, such as Ether, litecoin, Iconomi...).
Iconomi invest in a wide range of cryptos, the only way it can fail big time is if the entire crypto market were to crash, at which point ICN dropping wouldn't matter as no matter what crypto you were in you would likely be feeling the same pain/drops either way
and lastly the entire crypto space is exploding in market cap with no signs of stopping any time soon. Currently the market cap of all cryptos is ~120 billion but this number is likely to increase to around $1 trillion by end of year, allowing for a ~10x growth in value across all cryptos (many of which by the way will not survive the long-haul but the ones that do will have cemented dominance in the space with far higher values then they currently have).