Bitcoin Forum

Hey,

I have bought 66,107 Siacoins for 0.00495 each resulting in 327.21975 USDT.
What do you think of this investment, is it going to be +ve or -ve in the long run or in a month?
Link: https://coinmarketcap.com/currencies/siacoin/

Genuine feedback will be much appreciated.

You FOMOed right? The RSI and Stoch shows that it was close for being overbought. But there is still some space for price growth. I’m a fellow investor of $SC before but I decided flip when the project become stagnant last 2018. The price might suffer some major correction soon and I think that is the perfect timing to enter on this coin but if you are planning to hold it for long time then it’s OK.

Sorry, I am not sure what FOMOed means.

Is it possible if this coin can even touch $0.1 or something? And about long time, what is your expected duration?

i also have SIA coin, they just released SiaStream application, and it seems that development is getting some pace, but price have already risen and one should expect consolidation, but in the long term, i expect SC to go up
of course, you should think for yourself, this is just my point of view, not financial advice

I am not sure if i did the right thing by investing in this, I was previously holding ETH.
I hope this decision will be right and I am willing to wait till the end of 2020.

This is a short time to expect such profit for that investment except the expected bull starts happening. I think the coin is showing overbought maybe a correction might come first but be hopeful.

It looks like you need to learn more, FOMO means Fear of Missing Out. How do you come to the conclusion to shift your funds from ETH to Sia? There is an old thread: What do you think about Siacoin? (https://bitcointalk.org/index.php?topic=5162091.0). I guess the best thing for you right now is just wait, maybe down the line it will experience a growth in the next two years or so. Best of luck to you,

It's already listed on some reputable exchange like Binance so I wouldn't say that it is a shitcoin and there's a lot of promise on Siacoin before. And it is still cheap right now, and it seems it is gaining some steam as it is up by +20%. But I do agree that it is already in the overbought zone, meaning it is already in a bubble phase.

So I wouldn't be surprised if there will be some corrections going to happen to in the next couple of days. I don't know what price you buy this coin, but if you are looking for a long term hold then I would say go for it and let's see if your gamble paid off in the future.

I am willing to go for long term hold, no issues. Hope it pays off haha.

0.1$ is too high as target take profit considering Siacoin has a 41.8B circulating supply and the ICO madness was already which is the only reason reach 0.11$ that time . Maybe 0.01$ to 0.05$ is possible to achieve for a long term investment but don’t expect that much since this coin just recently finish the elliot wave cycle which means it’s on retest. If this coin didn’t break the 52sats resistance then it suffer a major correction. Watch out on that price level.

Do you suggest me to withdraw from this decision or wait for atleast a month? Not sure when the correction will occur.

In my opinion there is still a potential return to $ 0.02, but that is also not certain because if you look at the ROI SiaCoin is very profitable for investors,
just realistically, you can sell it when you are profitable

I see it.

Siacoin is pumping and is 19%+ currently.

Don't wait for too long and don't think for bigger returns if you want short term. But for long term, we can't determine it however, I saw siacoin has been one of the altcoins that's been stable on its ranking.

It's not so good idea to invest all money in one coin. You should think about devirsification

SC's current price is $ 0.005, but its ROI has gone up to more than 9000%. So I think it's too hard for it to go up $ 1 as you would expect, even the price could crash any time at current prices.

It will depend on many factors , but also if you gonna use there service ( Sia)

There are many competitors in Decentralised storage market

1- Sia
2- Storj
3- Filecoin/IPFS
4- Arweave
5- Tron/BTFS

So if Sia is able to compete with these and able to get a sizable market share it will definetly be good statement. I think specially in utility coins ,try to invest only if you yourself will use that service as you will be able to better judge it's potential. For e.g BNB got very successful for it's utility to traders and investors. So if you are distributed  storage provider or can know about that market then you  will be able to judge the return in long term.

I think Sia is making progress and in next two three years they will have many applications launched but it will have the traction or get userbase that can't be predicted as crypto as a whole sector is very niche for now and dapps and services usage are very low.

If your main purpose is to hold the coin for a long long time then that should not be any problem. Many altcoins are handpicked by most cryptocurrency enthusiasts for long term investment and many examples of the results of long term investments is well known to attract many people to emulate what these lucky investors have done in the past. So continue buying low priced coins and wait a few years before you will be able to reap the benefits of your investment.

SIA is a good coin, been trading it mid term since it usually requires a lot of patience trading  it, due to low sat. I admire the product of siacoin project, cloud storage but it doesn't compete with the mainstream cloud storage closely, still has a long way to go in terms of acceptability like google drive. Not my spec for long term though, but overall it's a dope project with lower risk investment.

The ATH of this project is $ 0.11, so it is fully possible to go up again if the bull run comes. This project is in the top 100 coinmarketcap so I believe it is a good one and even they are listed at Binance. Try to hold them in the long term and wait for the profits to come to you

In the past this coin was expected to have huge potential and traded actively by the day traders but now things changed because shitcoin hyoe doesn't get longer, but it could be a profitable one in long term and the capital is also not too huge so worth for holding in long term since you already bought it.

In my opinion, you bought SC at a bit higher price. SIA is a good coin and if coinbase adds SIA to their exchange then it could really fly from here. I remember when coinbase announced that they were exploring SC coin and the price skyrocketed real quick.

Yes, it is not a good idea to invest money in only one Altcoin, but maybe he sees that the price of Siacoin will be high in the future, therefore he wants to keep it until the time set by him, I think Siacoin looks good if he is very good at trading There is nothing wrong with putting money into one Altcoin, because he may be able to assess and see a graph of how the Altcoin will move in the future.

I think if the siacoin repeats its historic bullish patterns then you can definitely make good profit so with expectations of bull market it may take few months before the price moves big time or if you are contented with small profit then surely you can take and it will not take long.

I think you are asking this in a bit of wrong time because you have bought already. SC has been moving up for long time now and look a little bit over bought. If you get some +ve then good for you.

Since you have already bought, now you can hold and see the result. I hope you have a solid plan for Siacoin. Because Siacoin has pumped enough now, it is not possible to say which will be the next target in the market. If you have done the analysis before you buy, now it seems to me that this is not the right time to buy siacoin. And for those who buy FOMO, market changes don't matter much.

SIA coin is not bad choice, I’m holding some too, it has  a good market cap, on last week I’ve seen its price was around ~0.0036usd and now it is touched ~0.005+ usd, I think it will grow more and there is a possibility to touch 0.01$ per coin very soon. A correction may come but nothing to be worried cause SIA has a glorious historical background you know.

Siacoin has good prospects...
In the future, cloud storage will be very much needed and this will automatically make Siacoin bullish, btw currently the price of Siacoin is around $ 0.004 and its ATH is $ 0.1, surely Siacoin can return to its highest ATH.

Siacoin is around for a few years now. Back in 2017 i mined a few 1000 coins myself.
I think one of the things that is a little awkward about it is the fact, that there is no max supply.
That could prevent the price of the coin to rise stongly.
On the other hand if a lot of people start using Sia to store their files, than a lot of siacoins will be needed.

i have been studying this coin for over a year now have not just made my decisoion about my stand on it because i see project that are ahead of it and im definitely working on. I will definitely check it out soon

In my opinion Siacoin is not a good coin for investment, because based on my analysis the price has since reached an all time high.
Not showing good progress, I prefer investing in altcoins with clear track records, such as Ethereum and Ripple. Or choose popular
DeFi projects like Chainlink and LEND which are more profitable.

This has been a long time that hype is for SIA coin. The progress of the price rate of SIAcoin has been always decreased since 2018. And until now, it still doesn't increase significantly as the other altcoins. If we look at the chart here:

https://i.imgur.com/6ntAvq7.png?1

What do you think of the progress of this coin? The price is likely sideways, not going up significantly. Really so far from its ATH and the volume is also not changing much. rather than investing in this coin, I will prefer to others, analyzing more to the chart and also the market.
I do not want to make you pressed because of this, but exactly, you must wait for long term investment and analyze the chart whether it is always decreasing again or increasing.

Sc: https://coinmarketcap.com/currencies/siacoin/

Quick update guys.

I bought 66k Siacoins @ $0.004 and now it's $0.008.
I'm still holding them and let's hope they reach $0.1 in some years.

Cheers!

Tip for Everyone: HODL is the key.
All these are now worth 2454 USDT making me a profit of 2127 USDT.

 ;D