SC as I've been monitoring has been building a base at 150-160 for weeks and is now rising with the broader market. SC has an advantage that it's lost 88%, and is currently heavily oversold. SC will provide great profits as it returns to its old ATH somtime in Q3/Q4. Now is the time to enter this trade if you haven't as SC is still working through resistance beneath 200 sat. After this point, there is monthly resistance at 260-300 and I there will be a pullback once it hits this point. After this point, I expect a large surge in price as resistance is minimal until we reach TP1 at 400 sat and TP2 and 600 sat. After this we'll be pushing for ATH and will likely see a price spike once a new ATH is achieved.
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SC has shown great resilience in pricing action recently and it looks like we're taking a more direct path to our TP1. We'll have to see what happens around 250-260 and whether or not we see a pull back or push straight through.
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SC is currently taking a small breather and pulling back a bit after becoming overbought, and is currently moving between 2 pivot points. The trend still looks strong and looking for a continuation after a bit of a break.
After the last surge in SC -2.29% it has fallen and been building a base around 150-160. There has been recent volume to suggest accumulation. The first price target is 400 sat then 600 sat, and then the ATH+. I reiterate my position in SC -2.29% is long term and I see us crossing the ATH -0.43% by the end of Q2 or Q3 of 2018. I currently still hold a large position from 54 sat. Currently I see major events happening in SC -2.29% that will meet these price targets.
1. Download code updated to support video streaming. Very quietly SC -2.29% has upgraded their download speed and showed off video streaming which will be integrated in the next version of Sia . Video streaming has always been the most important part of SC -2.29% since most data storage now and into the future is related to audio/video data. This also brings into the fold several options for partnerships, such as library credits and others that require large repositories of cheap data, which is perfect for Sia . This increases SC's use case tremendously and will only increase demand for SC -2.29% .
2. 3 more coders and a liaison person coming onboard. Sia has also quietly been hiring additional programmers for their core team. They're already one of the most active coders in the blockchain space (as rated by coingecko) and this will bring faster development to SC -2.29% . The liaison is being hired because there are so many tertiary projects that are using Sia as a backend, thus 2018 is quickly becoming the most important year for SC -2.29% in its development.
3. Obelisk asics. There's been a lot of debate in the space about asics for SC -2.29% . The key here is to exclude voices from those that are upset about the change, because they were miners and are being displaced and the very real danger of a proof of work system without enough hash rate. Interestingly, the 51% attacks on electroneum and verge recently may have proven that SC -2.29% was right in creating asics for their blockchain to ensure they protect against a 51% attack. I think the asics are going to be very positive, in addition, the interest from companies like bitmain and Halong will also bring Chinese miners to SC -2.29% which will incentivize an additional community that is invested in SC's success.
4. Coin emission schedule. Many people don't understand the coin emission schedule ( inflation ) for SC -2.29% and haven't realized that back in Feb 2018, SC -2.29% broke under 20% inflation . This is the same point where Ethereum -0.87% began its price rise. Over the rest of this year inflation will drop to around 11% and next year it will be under 4%. Currently, based on a scarcity model, this will be the lowest price we are likely to see SC -2.29% ever. With increased demand for the coin based on usage and ultimately video streaming (which is highly data intensive), as partners start to come on board through 2018-2019 the coin emission will be exponentially dropping at the same time, which will cause a spike in price. Interestingly, many don't understand that SC's coin emission keeps dropping until it reaches 30,000 coins in perpetuity, but this actually means that inflation will constantly fall forever from 4% to 3% to 2% to 1% inflation over those years. A constant coin emission simply means inflation is constantly dropping over the same period (Easy mathematical calculation). This misunderstanding will allow those that are prepared to be placed and ready for a big surge in price.
This is also why I've taken up early position in the coin and am holding for the next couple of years through what I suspect will be SC's golden years.