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Originally Posted by barney big nuts
icon bears/bulls
Long story so not gonna get into it too much but I tried to make a shorterm move with icon and sold other holdings but then icon took this massive downswing(larger than almost every other top 50 coin) and now im kinda ****ed
So I'd like to hear what you guys think.
ICON not yet listed on any korean exchanges once it is will the price go back up?
The total supply is around 400 million which is large so how high can this thing go?
As it stands if I sell now im selling @ a 5k loss so not sure what I should do.
Any help would be greatly appreciated. TIA
edit- I made this move before chuck bass posted that icon is garbage
I literally picked the worst possible time to do it i could not have picked a worse time or coin to do it with.
I feel like punching myself in the face -(
Lesson: Do your research before buying stuff, when a coin goes down it's not called a "downswing", there's (usually) a reason behind it. I'm really not at all knowledgeable about crypto but even I would have snap sold every ICX I had after the Jan 31 news. I mean they held their biggest conference ever and all they had to present to their audience was a huge delay in the project, which basically just makes their entire project super questionable at this point. It lost over 50% of it's value (in btc) in like 2 days as a result... if you somehow manage to buy icx there instead of selling you're not doing enough research, very easy trap to avoid.
I don't really have an opinion about ICX longterm, imo at these prices I wouldn't touch it, but lots of people smarter than me have loads of it. I think there's a legit chance it will go up at some point and if I were you I also wouldn't sell at a loss (pending other bad news). ICX is one of those super hyped coins that for some reason always shoot up big following any random hype. This and the lack of an actual project to showcase is why I think it's super overvalued atm, but at the same time it would not shock me at all if there was another hypewave that made it shoot to the moon again. If I held ICX I'd be looking for a chance to dump it and get ready to sell at the next runup, there are so many better opportunities out there and even after coming down ICX marketcap is still absurdly high. Never know about those crazy Koreans tho, I mean ADA doesn't really have anything to show either and they are somehow top5 marketcap. That's just me tho and I'm really just a random observer who can barely spell "blockchain"
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DBC is my bigger bag right now, my thought as someone who loaded too much beginning of the year :
- Company seems super legit : legit service and big clients
- AI is a huge legit market
- I ve more and more doubt the token and the specific service of the token will ever be used since CPU/GPU sharing services didnt get good results in the past but maybe this one could be different with AI market behing. But maybe it s the market crash talking more than anything.
I missed a huge opportunity to sell at 50cents, since then it started dropping even before the market crash.
It has been tanking with a pretty solid trading volume, that s the only reason why i didnt move on. 10 cents a coin is pretty cheap if you believe in the token, market cap is deceptively low , coinmarket cap has the wrong value of token circulating it s 1.5B and not 900M if i not mistaken, still super low market cap so alot of room to grow 10X.
it s worth comparing to https://coinmarketcap.com/currencies/singularitynet/ , which is in the same category : AI utility token, but i didnt do any research to see if it s competing, AGI didnt suffer the crash so it will not have any bad memory DBC has, with people buying at up to 60cents and see it drop to 8 cents.
Yeah I like DBC a lot. I bought it when it first came out (literally woke up at 3am on Christmas Eve to buy), managed to 9x, and somehow then also managed to not sell a single coin only to watch it dip ~75%. Pretty funny to look at the graph now, wp Chuck. I def like DBC as a mid-term type of buy, if I had to make a list of 10 coins that I think are the most likely to be up value by the time WSOP starts I'd include DBC there. It just has to be super undervalued compared to most coins.
The downside is that it's only on Kucoin and Huobi. The latter has tons of fake sellwall manipulation which helped to drive the price down -- it started dipping literally on the exact date Huobi launched their DBC trade volume competition and never recovered. Its initial bullrun was largely because of the Kucoin effect, it was one of the ~8 heavily promoted coins there that had the exact same bullrun and then huge dip in December->January before market crash. Since then Kucoin has added like 100 new bs coins, which eat a part of the $ flowing into Kucoin markets --> less money to flow into DBC. That's why I think there's no massive rush to buy DBC as it might remain relatively stagnant for some time (although some of the better Kucoins have started waking up lately). Anyway it's a very legit project with a strong community, and it might actually make it to Binance one day. Out of all Kucoins it's probably in the top5 most likely to make it to Binance, and if that happens --> Moon. The moon might still be less than that December bullrun tho, but def seems like a +EV investment