Gridcoin to drop down to 0,10$... How much will the lowest price be?
After a very weak week, cryptocurrencies continue to drop even further, and our loving Gridcoin has already dropped to 0,10$. This means almost 50% loss of the price (Whaaaaaat?)
While some of us are feeling a bit depressed and confused about the price of Gridcoin, and maybe consider of selling their coins, my only question is how much will it drop, just until...
IT COMES BACK WITH A BANG!
Yes, it will be back sooner or later, but who knows when and how much... Today all the cryptocurrencies are in red from about 20-30% on average, but who cares? Of course a lot of people care, but nothing to worry about, in my opinion.
Yes, we saw gridcoin going to all time high - about 0,20$, maybe about a week ot two ago, but now its prise is significantly lower.
From my minor knowledge of the stock market, the vast lowering in the graph indicates upcoming movement in the other direction - rising back to 0,20$ and even more.
So now, let's just wait and see what the price will be to the end of the week.
What are your thoughts? Will we be happy, or sad! I prefer to be happy.
See ya!
My only regret is that I bought in ca. 25€ in Ǥ at the all-time high period on top of losing approx. 30 - 50€ in Bitcointransaction fees when I tried to daytrade -because I used the wrong exchange. :D
This is an opportunity to buy back in maybe it will fall to 8 $-cts? I do not think that it will go to the good old days of 1 €-ct. ;)
Anyways: Gridcoin is a ridiculous coin if you consider that by now there are 3000+ cryptocurrencies and it's still worth around 40-60 Million $ depending on the day. It's ranked in the 200s nowadays.
Still it's one of the few coins where I can see interesting technology. The promise of Proof of Research / Proof of BOINC -although of course from a technology standpoint proof is maybe a little bit too strong a word here- was always to stop the waste of electricity cryptocurrencies tend to be.
They still are wasting a lot of electricity! So the initial goal is still worth going after.
When it comes to so many coins there is not a lot novelty or any unique selling point involved. Gridcoin is different. If the community can stay on good terms with it's original developer Rob Halförd I think the future is bright.
Until vanilla Bitcoin has not been mined to completion for me personally there won't be any interesting fork of the Bitcoin blockchain.
My price target is 1(long term goal)-5$(highest ever) per Ǥ.
I also like this coin, because I see it different from the others with good technology involved. Keep my fingers crossed about it!
Well maybe I was wrong. Technically speaking I torched around 7k € I suppose. But we are still not at one cent. :D
5 ct is astoundingly low to me still though.
I do not think that cashing out now would make any sense to me anyways. My - now- 56000 GRCs are now only worth about 2.3k Euro -which used to be worth around 11.2k Euro :D
Stock markets are run by emotions but djeez, crypto is a bi polar disorder.
Sure. But to me in the end all it really shows is that Keynes was right, when it comes to us being way less rational than we think when it comes to financial decisions. But crypto as a whole is overvalued. I do not think the market is wrong when it comes to that.
Hundreds of currencies... Jesus Christ. For comparison: there are only around 200 countries in the world.
Nice post!!
Also am very interesting statistic!
Greets, leagueinside :D
Have you ever thought that just by analysing and trying to predict the market, you are affecting the market? I just realized that. The stock market is an amazing chaotic system that can be affected just by studying it.
Yes, in fact if you affect other people to buy/sell, maybe you affect the market too. Anyway, I personally do that just for fun and to express my own opinion. Also I am curious to see what others think about it, so thanks for your comment!