Siacoin True Bottom (ALT) & 1,000% Growth PotentialMy dear reader, we have a true bottom here when we look at the Siacoin vs Bitcoin (SCBTC) chart. This is important, TA wise, because it signals that only growth is now possible.
Once we hit bottom...
➖ Siacoin hit bottom in June 2024 at 6 satoshis.
The same level was tested again in June and then in July, both times holding strong.
➖ In early August 2024, 6 satoshis (0.00000006) was tested again and held as the bottom of the bearish cycle. This is the lowest price ever, in more than 7 years.
Needless to say, the last bull-market happened in the incredible year of 2021; we had something never witnessed before in our lifetime, a huge pandemic and we were forced like little children to wear masks and be "locked-down" in our homes... Thanks to the almighty God, the world didn't end. It turned out that Cancer, Heart Disease, Diabetes, Smoking and even being struck by lighting is still more dangerous than the highly propagandized seasonal flue. Anyway, the thing is that the market grew wildly while we were all glued to our screens.
➢ Back in 2021 Siacoin grew 1,111% in a period of 105 days.
If we go further back, this pair is old enough, there was another bull-market in 2017. There is a bull-market every four years in the Cryptocurrency market, so prepare for a new one in 2029.
➢ In 2017 SCBTC grew 1,500% within 63 days.
Some of the BTC pairings for many Altcoins did not produce an intermediate wave in 2023/24, this isn't the case for Siacoin. SCBTC grew 400% between November 2023 and February 2024. Growth was even higher on the USDT pair. Here growth was smaller because Bitcoin was really high and rising, people were not ready to part with their BTCs while it was moving up. The situation is very different now. Bitcoin has been bearish for 6 months and is ready to print a major leg down. People will be fast and happy to sell BTC for Altcoins, thus strengthening the potential for growth for this and other pairs.
➢ Long story short: Siacoin always pays and it looks good for 2025/late 2024.
We are now in the accumulation phase. Our strategy is very simple, buy and hold.
We buy and hold with the intention to sell when everything is up. Trading 101.
Buy when prices are low, near support; sell when prices are near resistance or at new All-Time Highs. With this simple strategy, you can't go wrong.
Namaste.
