What is driving Gridcoin's price?

rufusfirefly (61)in #gridcoin • 6 years ago

I used Coingecko to create a chart of GRC's price in terms of USD, BTC and ETH. As you can, see, after an initial bubble relative to Ethereum, GRC/ETH has been slowly declining. The great volatility in terms of USD and Bitcoin is largely an artifact from BTC's volatility and the volatility of cryptos relative to fiat. Thus, GRC's value cannot be explained in terms of BTC and my prior statements to that effect are wrong.

Of course, the past only imperfectly predicts the future. The downward trend of GRC/ETH could reverse, ETH/USD could start a rising trend while the GRC/ETH trend continues, among other scenarios.

I'm interested in others' thoughts. Please comment and start a conversation.

P.S. USD is in blue. Volume is at bottom, but the scale is not given nor the currency. :-(

#bitcoin #beyondbitcoin #cryptocurrency #ethereum

6 years ago in #gridcoin by rufusfirefly (61)

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gridcoin-booster (45) 6 years ago

This post received a courtesy vote from the @gridcoin-booster! Thank you for your contribution to the #gridcoin community!

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