IOST/ETH Target 0.00009868
I am not a financial advisor and the views expressed are my opinion. I am posting this for educational purposes and I am not instructing you on whether to buy or sell IOST, or giving financial advise: I expected a sell-off due to the nature of the "Big announcement". The dump is due to people who have bought in "just in case" the price rocketed. Rumours had been circulated on social media that Apple was going to partner with IOST. This obviously created a lot of FOMO and if a merchant like Apple or Amazon were going to consider this the first stage would be a proof of concept trial (POC). We must also take into account the fact that the Binance are currently running a competition and will be giving away 5 million IOST to the winners. To win a share of the prize pool you have to have a minimum of 100,000 IOST in your wallet at the close of the competition on April 13th 00:00AM UST. The competition was announced on the 4th April and commenced 7th April 00:00AM UST 0.72% which accounts for the significant increase in volume and price on those 2 dates. If we take these elements out of the equation IOST was on a consistent uptrend and was performing extremely well. This project has a great team, has made significant progress in achieving their roadmap. The project received seed funding from three VC -1.22% firms. If you are not familiar with how venture capital works this type of investment takes place based on a 5 to 10 year strategy. In many cases the investment is made with the expectation it will not reach maturity for 8 to 10 years. This is why I have invested heavily in IOST and am taking a long position. We can expect another sell-off at the end of the Binance competition, however, I am not concerned by this at all. The trades I am making at the moment are to enable me add more IOST to my portfolio and capitalize on compounding. Feedback is always appreciated. Thank you for looking at my chart and good luck in your trading.
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