LEGEND
The green Schiff fork is drawn from initial crossover from being oversold to overbought according to 3h RSI, and aligns with price points that have been more bought than sold according to the VPVR.
The Fibonacci retracement is drawn from initial major movement to the all-time high.
The Schiff fork channel in blue is drawn from the ATH balanced on the immediate lows on either side.
The Schiff fork channel in white is drawn from a supply-side shift due to loss of confidence in the market and people hedging into BTC.
Long standing bearish RSI trend from the initial spike in December has been periodically counteracted by bullish buy-ins with decreasing effect on the price over time.
ANALYSIS
Once RSI compression (RSI trending low) hits a maximum between 30%-50% we can expect some positive movement or total collapse.
Price point has bounced off of the 0.382 Fib retracement enthusiastically, and held around the 0.5 Fib retracement pretty tightly.
It would make sense for the price point to decrease to the 0.382 Fib retracement at around 850 sat, but it would be a surprise if it got all the way down to the .236 Fib retracement at 600 sat. Realistically guessing around 700-725 sat mid-March and then beginning the next leg up through April.
An inflation rate of 8% per year, to begin at "a later date" would not help the price point without substantial use, but this environment and nascent virtual economy could exhibit several "tipping points" and inflection points in the growth curve.
COMMENTARY
Decentraland is an interesting project, just at a conceptual level. As a confluence of the real, unreal, intangible, and observable, a virtual city where the "land" itself was auctioned off, and can be built out, presents an encapsulated universe wherein visitors and participants are essentially a captive market for the currency. This means the growth of its use can be observed in terms of visitors, participation in different environments/plots, and actual exchange of virtual currency for virtual goods and services. As one example, the owner of the genesis Cryptokitty has posted on Ethlance recruiting graphic design talent for a temple devoted to the cryptokitty, where patrons can throw coins into a well as a virtual donation.
This will likely not be the be-all end-all of virtual cities, but considering the implications of land ownership in a virtual space in parallel with land ownership in the real world, many potential contract-oriented instruments are possible to inflate the growth of the virtual economy, if it launches successfully. The designated and maintained spatial organization dividing the virtual city parcels with coordinates will likely translate into higher and lower trafficked segments, then advertising within the virtual city could be capitalized upon as well.
If you know more about this project, I'd love to hear it.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
The green Schiff fork is drawn from initial crossover from being oversold to overbought according to 3h RSI, and aligns with price points that have been more bought than sold according to the VPVR.
The Fibonacci retracement is drawn from initial major movement to the all-time high.
The Schiff fork channel in blue is drawn from the ATH balanced on the immediate lows on either side.
The Schiff fork channel in white is drawn from a supply-side shift due to loss of confidence in the market and people hedging into BTC.
Long standing bearish RSI trend from the initial spike in December has been periodically counteracted by bullish buy-ins with decreasing effect on the price over time.
ANALYSIS
Once RSI compression (RSI trending low) hits a maximum between 30%-50% we can expect some positive movement or total collapse.
Price point has bounced off of the 0.382 Fib retracement enthusiastically, and held around the 0.5 Fib retracement pretty tightly.
It would make sense for the price point to decrease to the 0.382 Fib retracement at around 850 sat, but it would be a surprise if it got all the way down to the .236 Fib retracement at 600 sat. Realistically guessing around 700-725 sat mid-March and then beginning the next leg up through April.
An inflation rate of 8% per year, to begin at "a later date" would not help the price point without substantial use, but this environment and nascent virtual economy could exhibit several "tipping points" and inflection points in the growth curve.
COMMENTARY
Decentraland is an interesting project, just at a conceptual level. As a confluence of the real, unreal, intangible, and observable, a virtual city where the "land" itself was auctioned off, and can be built out, presents an encapsulated universe wherein visitors and participants are essentially a captive market for the currency. This means the growth of its use can be observed in terms of visitors, participation in different environments/plots, and actual exchange of virtual currency for virtual goods and services. As one example, the owner of the genesis Cryptokitty has posted on Ethlance recruiting graphic design talent for a temple devoted to the cryptokitty, where patrons can throw coins into a well as a virtual donation.
This will likely not be the be-all end-all of virtual cities, but considering the implications of land ownership in a virtual space in parallel with land ownership in the real world, many potential contract-oriented instruments are possible to inflate the growth of the virtual economy, if it launches successfully. The designated and maintained spatial organization dividing the virtual city parcels with coordinates will likely translate into higher and lower trafficked segments, then advertising within the virtual city could be capitalized upon as well.
If you know more about this project, I'd love to hear it.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.