I am now searching for POS coins and this looks intresting.
With 52 million coins in circulation it should dump couple more times before it will cross 1 $. Am I thinking right or not?
With the caveat that you can't predict anything, and if you could we'd all be richer than we are, here are a couple of things to think about:
- PIVX is nearly 1.5 years old. Although most people only heard about it in the recent rise, it's been chugging along for a while now and a lot of the basic development and 'identity' is more mature than people think. That was a deliberate choice by the Devs: get the basics sorted out before making a push. Now that PIVX is in the public eye there are new growing pains, of course, especially around marketing (e.g., yesterday's coininterview interview), but the core is still more solid than most.
- The effect of masternodes can't be underestimated. ~40% of the total coin supply is locked in MNs, making actual supply a lot tighter than it seems. There is also a sizeable group of people who've been in since (near) the beginning, have seen the Devs' plan develop, trust that the coin is in good hands, and have no intention of selling any time soon. So, more than many coins, PIVX is buffered against extreme P&D.
- As someone who has been in for more than a year, the recent jump surprised me, not so much because of where the price ended up, but because it happened so suddenly. In my view PIVX has been undervalued for a long time, but I would have expected a slower, steadier rise. Given that the 'real' jumps should take place later, e.g. when zerocoin protocol (or another roadmap milestone) is implemented, I fully expected that the price would drop back significantly in the short term (I was expecting something in the $0.30-0.40 range). The fact that it hasn't underlines the two points above.
- It's now been several weeks since the rise, and there have been two main dumps over that time. Neither has gone especially far, and each time there has been a nice rebound. So, to answer your question, if I had to guess, I would expect us to keep bouncing around with a ceiling of $0.95 and a floor of maybe $0.60-0.70 for the next while (i.e., until there's a new development), but PIVX has surprised me enough so far that I wouldn't personally feel confident in trying to ride the pattern. So no, I wouldn't expect a true dump, but yes, I would expect some more ups and downs until the next major announcement.
...and you should take all of that with the same confidence you'd take any other opinion on the internet
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