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RE: STORJ Target $6.65 (172% Profit Potential!!)
Very impressed with your chart work haejin. The cup and handle in STORJ/USD and STORJ/BTC is one of my favorite chart patterns, looks ready to go. I'd take a cup or two for myself
Do you think the pattern impacts the price of the coin MORE than the actual product they have? Just curious about this because it seems SIA has them beat on utility. It might be tough to move prices once they get much higher than $2-3 when there could be cheaper, better options. This might explain why STORJ has been "stuck." Just a thought. =o)
@j412i I think it depends on the particular coin we are talking about. Definitely have to keep the underlying fundamentals (actual product) in mind, especially when comparing to competitors like SIA. Both could see price growth given the growth potential for the crypto market cap, presumably with decentralized storage representing a notable portion of that potential future growth. The cup and handle pattern looks to me like a consolidation/accumulation, might be what STORJ needs to get "unstuck"... we shall see
I agree that it depends. I should have clarified that I was specifically talking about STORJ, which I followed for the last 2-3 months and ultimately decided to put my money on SIA. And you're right. We shall see. Maybe both will benefit as people become increasingly aware of alternatives to server based data storage.
I've always been a fan of diversification myself
STORJ is more expensive. So they can easily gain more people to provide storage space. The problem is getting more customers. I'll have to research their business models more. But Sia shot up like crazy, there will be some positive sentiment. Because of SIa's price increase, their service cost has also gone up. STORJ is also on Binance. That's a big plus.
https://www.reddit.com/r/storj/comments/7ommsh/why_would_i_use_storj/
@vimukthi The last I saw, STORJ wasn't even accepting its own coins as payment for storage. SIA was ahead of them in that regard so that's another factor I considered when dropping my $ into SIA. Obviously I could have split it 50/50 but didn't have the funds to do that.
Too bad I was out of both of them and went in on XVG, XLM, MCO, BTS
But those turned out well too. So I'm not complaining.