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RE: VERGE (XVG) prediction using EWT
I'm curious why you see value in verge as opposed to some of the other privacy coins that arguably have better development teams and a better product.
I am also curious if you were an advocate of verge before or after the John Mcafee pump.
Great questions my friend!
To begin with i have been a holder of verge since July '17. Truth be told i bought it simply because it was one of the cheapest coins on bittrex. After more research i decided to reinvest a good amount long before it was worth more than $0.01.
From a technical analysis point of view it has incredible long term prospects in price increase %. It had no ICO when released which gave the average man plenty of opportunity to invest at a low price.
Fundamentally it is fast, stable, private and has a good total supply of 16 billion - something that will make it easily more adoptable into real world payment scenarios (i.e paying 2 XVG as opposed to paying 0.000125 XMR for a hamburger). Admittedly, you could say the development and marketing team has room for improvement, i personally believe that previous 'issues' have more been with timing than the development itself.
Finally from a holistic point of view (which in no way reflects my analysis) if it hits just $1, a lot of average people on poor wages who invested small amounts early will have made a good sum of money that will undoubtably help them financially, and that in itself is a thing of beauty :)
I understand thanks for taking the time to explain.
I am wary of looking for big returns on coins with a large float. I consider 16 billion to be relatively large. It will help bring about price stability in the long run, which will make the coin less volatile and more attractive for use as a medium of exchange...but I do feel that many of the other privacy coins have better development teams than verge and will likely achieve market dominance first.
But I certainly hope you're able to make some good money on verge!