With over 100,000 full nodes (compared to BTC's 11,000), Digibyte is highly decentralized. Digibyte uses five separate mining algorithms to ensure mining decentralization. It’s also one of the oldest blockchain projects out there (2013), with early SegWit implementation. It offers super fast transactions.
For those who know da woo, Clif High’s web bots have found hints of a “minor mania” for Digibyte in the summer of 2018. Considering the man’s accuracy up until now, I’m more than happy accumulating DGB at these current levels. Now’s a killer time to be shopping.
DGB has respected a global Fibonacci range ever since the enormous run-up in the summer of last year. I would argue that it is now in a good range to begin some harmonic kind of movement, but first let’s establish some congestion zones and look at the Ichimoku.
The Ichimoku cloud is lining up almost perfectly with this Fibonacci range.
The Higher lows in price and lower lows on the RSI indicate hidden bullish divergence, while declining volume and a symmetrical triangle forming with the 50 and the 200 MA are creating a solid base for a sort of bull flag. It could be a pennant and will need more time to consolidate. The Ichimoku cloud has flipped bullish just as there was a golden cross of the MA’s a week or so ago. Here I see a pattern similar to some other reputable projects out there — en edge-to-edge cloud break, followed by a retracement to the top of the cloud, and then the establishment of a new price floor. Bulls would be careful, however, as it is beginning to look like a head and shoulders pattern. Now all of this may be difficult to see at once (unless you’re as bugged out as I am), but I also see what could be a bullish pennant forming in the RSI. Bollinger bands included to show how tight the price is getting.
Here’s the triangle using the 200 MA as the base. Long term I see a lot of upside for DGB, though it may end up consolidating for many months so I’m not so interested in it for swing trading. Below are your levels indicated by blue horizontal lines.
These targets are primarily based on the Ichimoku, the global Fibonacci range, and previous congestion zones discovered around those areas.
I'm resurrecting this old idea as it seems the markets are starting to wake up. BTC may have another strong leg down to form a reliable higher low to boost us into a bull run, or at least get us to higher levels so that we can begin to consolidate at higher prices.
I've laid out some key price levels to watch out for, one being right around the corner. The alts are following BTC, so don't be afraid to move into fiat if BTC begins to look heavily overbought on multiple time frames.
@damdamm, Where do you expect DGB to be by the end of the year?
damdamm
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@RotiWokeman, $0,50 up to $1 should be real worth TODAY but as I see competition is fighting with price of DGB very much cause they know that behind it stands technology. That's why we should expect this levels scarcely by the end of year. They are not giving hopes or selling dreams - they have really great and working product in opposite to most fresh made ICOS which grow easily like mushroom after rain. So I believe DGB price is constricted theses days and deserves to be one of golden choice of 2018.
And of course it depends what condition of BTC will be by the end of year as for that moment it is connected by many correlations.
Here you have my view against USD.
RotiWokeman
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@damdamm, Awesome I'll respond in more detail later, got a busy day ahead.
RotiWokeman
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@damdamm, I agree that this is a solid asset to hold longer term, but resiliency takes time to develop. I wouldn't even compare this to the likes of XRP which was manipulated some way or another. But your analysis of DGB-USD is quite good, and I think we must consider the USD value of BTC in the future as well. However a diversification of dominance in the market plus an intensification of capital outflow from traditional markets into crypto will both be a boon for DGB and other assets like it. Thanks for including the USD analysis, it's something I've been meaning to do more of. The analysis of the BTC pairs only goes so far.
notify_send
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@RotiWokeman, I think DGB is a nice hold in the long term, I have used many crypto currencies to transact and DGB has been the fastest and most efficient as peer 2 peer cash, it takes mere seconds to get confirmed.
It is the longest UXTO chain and essentially an improved faster more secure and decentralized BTC, it is more secure due to its 5 mining algorithms and about 50 times faster in transactions and confirmations.
DGB is segwit activated and supports lightning network just like VTC only DGB is faster more secure and decentralized then either BTC, LTC or VTC those have limited supply going for them and BTC has first movers advantage but in terms of technology I find DGB superior. The DGB supply is a 1000x larger then the BTC maximum supply, 21 million for BTC and 21 billion for DGB so for DGB to be worth atleast 1/1000 of a BTC in the longer term or about $8 with current BTC prices is not a stretch by any means.
RotiWokeman
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@notify_send, Bingo, good digging. I was wondering someone would mention LTC by comparison. From above it appears to be more secure than Litecoin but I'd need to dig deeper myself to understand just what makes the mining algorithms so great. I'm actually wondering if the larger supply is actually a factor that would keep prices for DGB low for a while. I think as more people pour into crypto the institutions will be looking at the most stable options out there. Around 2019 perhaps we'll see less speculation and more real-world use. The utility is already there, people just aren't using things like DGB to anywhere near their fullest potential yet.