MCOBTC 500%+ potential (long term trade)
Updated
Monaco has officially confirmed that it will begin rolling out cards any time now before March 13. Monaco is an official Visa partner that will offer crypto debit cards where you will be able to spend various cryptos worldwide including MCO, BTC, and ETH. They currently offer 3 different tiers of cards all of which are free if you lock up specific amounts of MCO token for 6 months, which is a mechanism to ensure MCO token value increases over time. Alternatively, they are also offering a basic card that requires no MCO token lock up. This is huge and it will bring lots of mainstream attention because it will finally fill the gap in the cryptocurrency market where users can seamlessly, reliably, securely and cheaply exchange their crypto assets real time for fiat and spend it anywhere in the world.
A few weeks ago, most of Monaco's competitors got shut down by Visa as they were not fully compliant with the rules and regulations, as Monaco is not affected by this at all, it means they have a massive head start to all competitors, coupled with a token that has real use and a release any day now, this makes for a great fundamental analysis.
Now for the technical analysis, we hit a bottom December last year. since then we have been trading within the green channel in the chart. Following Bitcoin's sharp move this week, we dropped in value and hit the bottom of the channel, since then we've recovered but are still sitting at a good entry point.
The 21 MA crossed above the 77 indicating bullish momentum, along with the Stoch RSI crossing over as well.
This is a strong coin with a big community behind it and strong support. The future for Monaco is bright and is a definite long term hold
A few weeks ago, most of Monaco's competitors got shut down by Visa as they were not fully compliant with the rules and regulations, as Monaco is not affected by this at all, it means they have a massive head start to all competitors, coupled with a token that has real use and a release any day now, this makes for a great fundamental analysis.
Now for the technical analysis, we hit a bottom December last year. since then we have been trading within the green channel in the chart. Following Bitcoin's sharp move this week, we dropped in value and hit the bottom of the channel, since then we've recovered but are still sitting at a good entry point.
The 21 MA crossed above the 77 indicating bullish momentum, along with the Stoch RSI crossing over as well.
This is a strong coin with a big community behind it and strong support. The future for Monaco is bright and is a definite long term hold
Note
We're doing pretty good here, this is a long term hold anyways but, price has been trading nicely within the channel. This is truly a great coin that will be worth tons more in the not-so-distant future so the fact that it's been trading sideways for so long is an amazing chance to buy as much of it as you can before it takes off.
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