The problem with MAIDSAFE was always its connection with BTC and the crypto market to begin with. It is such a greart project that is stuck in the swamp of silly and mostly ignorant investors who are inspired either by greed or fear. In some ways it would have been better for the company to keep a low profile, and out of the crypto market, until after the release of the network, if that was at all possible. But that is not the case, and so we rise and fall with it. I do think enough people believe in it to keep MAID alive and well.
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Throwing this out there. I believe there is a likely chance Bitcoin can fall to the $1-2k region (youtube Tyler Jenks and Hyperwave). If and When that happens I expect MAID to fall to the 5c support. How long will that take? A while I guess, 6-9 months maybe.
If Bitcoin manages to hold $5k on the weekly close and never penetrate lower then perhaps ~12-15c will be the bottom.
But anyway Bitcoin is currently breaking a long held $6k important support line and that spells Doooooom. Eth already broke very important support. Winter is a cominĀ“. MAID is in the exact same boat as all the other Alts incl Bitcoin. I suggest to throw MAID fundamental analysis out the window for now.
Disclaimer: I have invested in MAID and have no intention of selling even though I believe it will go way lower. I married this position a while ago and am happy to ride it down. IĀ“m throwing this info out there partly because of my Ego wanting a pat on the back when we do happen to go very low but also to just voice the opinion that right now is NOT the time to be buying just yet.
Chart: breaking a support line (blue or red) makes the price fall to the next line down.
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Its all just words and opinion.
Buy low, sell high. Thats the rule.
And it CANT get much lower than this.
( Dependant on your perspective, of course. )
Maid didnāt have the same boom as the others, so why would you expect the same bust?
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I think speculators do not see MAID as a pump worthy candidate because of the long timescales.
On the other hand, MAID has fallen 55-60% (USD-wise) in only the last 15 days! That seems like pretty good correlation to the crypto market.
All the cryptos are irreversibly connected to each other for now and ofc to Bitcoin. Even if MAID manages not to fall against Bitcoin (which it has not!) It WILL fall against USD if Bitcoin collapses.
All Iām suggesting is invest amount thatās relative to the risk. Most invetments that have tremendous potential in gains have significant risks. The stats Iām referring to is not specific to Maid but the level of risk associated with it. For anyone who believes itās a safe and risk free investment, by all means mortgage the house.
Sure, I guess I like to break it down further. I like to take the line that bitcoin is an insurance policy over a bloated fiat system. In that effect, at least for the time being, I think ethereum is an insurance policy against bitcoin should something overtake bitcoin. Further than that, MAID is an insurance policy against blockchain in its entirety. Other Alts are just smaller portions of speculation. So while all of them can fall apart and be worth zero, to me that is a good way to protect against going to zero, unless everything really just dumps on itself, which I do not think will happen.
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It secured funding that wouldāve been hard to secure any other way at the time. Investing and trading are different. Investing is for the long term prospects of Safecoin, trading is about the current price of MAID. If somebody canāt make up his mind about which of those two he wants, heāll be up for a lot of confusion because they have no correlation whatsoever.
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For scalping and other mean-reversion methods. For momentum trading, itās buy high, sell higher. These two behave very differently. You will see small and steady profits and occasional big losses. Momentum traders see small and steady decline with occasional big wins. Both can work when done right and at the right market regime, and both can fail when done wrong or during the wrong market regime. Crashes, for one, can bankrupt a mean-reversion strategy (youāll keep buying till rock bottom and those bounces not always come) but they wonāt affect a momentum trader all that much.
Zero is the bottom. Should I say, thereās enough space for two 90% drops from 2,000 to 20.
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I thought just that when MAID fell to 10k. Back then, that was considered a tested and trusted support, and the idea of going down to current prices would have been seen as madness.
Now I would not be surprised if MAID goes below 1k.
If i bought low and sold high, i would always make a profit!
Say what you want, i would like profits, if its not broke, dont fix it.
The price has dropped from an ATH of .00029350 on polo, this years ATH of apx .00008666 on polo.
Relatively, we could only possibly drop a possible total of apx 11% or apx 38% respectively.
As i said, it depends on your perspective.
IMHO, the emphasis on my, it CANT get much lower.
- The market doesnāt always cooperate. Sometimes that bounce is just never coming. Enron, anyone?
- Your balls may be too small at the worst moment and youāll bail just before the bounce.
Thereās no Divine Law of Trading that would justify those statements.
Fun experiment you can do in a minute on Tradingview. Look through the past of any coin, FOREX pair, stock, or just anything, step by step, with the future outside the screen. Youāll find numerous times when you would say āthis must really be the bottomā (or top) only to be proven a fool a few bars later as you scroll on.
Yes, it may be that the price wonāt go lower and this is the bottom, and yet you would still be wrong because your argument is based on a misunderstanding about how the markets work.
Everything is relative.
Ill say no more.
Enjoy your day.
I couldnāt disagree more, unless, of course, the investor has transgressed the first rule of investing, having put in more than s/he can afford to lose.
In general, if one has not breached the barrier of their risk tolerance, I find this to be a great price at which to buy precisely because of the fundamentals. Might the price drop further? Perhaps, but that isnāt the metric that matters in this long game. Dependence on TA, in my mind, is for the shortsited who lack strategic vision buttressed by conviction. My two cents.
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@anon96570664 looks at it as a trader, you as an investor. Both views have merit, but mixing the two leads to confusion.
If youāre investing in the future Safe Network, which most of us believe is a solid investment, buying now is a no-brainer.
@anon96570664, as a trader, should not waste time on those same fundamentals because they have little to do with the price of MAID now or in a month.
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Remember that feeling you had when it hit $1.20 wishing you could go back and buy at $0.20 ?
Here we are !
Will it go lower? Who knowsā¦ but itās $0.20 now.
If it crashes completelyā¦ $0.005 ā¦ Oh man, massive opertunity to bring your buy average per coin down.
$500 at $0.005 would get you 100,000 coins.
Youād be sitting pretty - thatās if you do believe where we are going.
If you put in what you can afford to lose. No brainier.
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With this I can agree. I do question why anyone would be trading (as opposed to investing in) MAID. Personally, I donāt think thereās (ever really been) enough liquidity or accessāparticularly after the Bittrex delistingāto justify trading MAID as a play with balanced risk/reward. Trading, however, has never been my game.
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Again, trading and investing are two completely different games. Investing is about the real-life long term value of something, trading is about exploiting market inefficiencies (and low liquidity presents its own particular inefficiencies.) They require different personalities, mindsets, tools. Questioning someone who does the other is like debating the guy who prefers Waikiki instead of the Rockies.
Note: I do realize @anon96570664 is both a trader and an investor, and heās good at compartmentalizing those two sides.
Iāll make a bold prediction: weāve hit bottom already at 0.20. If Iām wrong, I donāt care. To me though it seems that everytime 0.20 comes around most traders have already jumped ship leaving behind those who will not sell so quickly. Thats my not so technical analysis, cheers
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Most traders donāt make money, most long term holders do. Just a fact of the business. Traders provide liquidity and price action for prices to eventually go higher. Iām happy to let other do that for me as we go from .20 or .05 to $100+.
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