Any comments to the next price direction?
Down. Sub zero.
Think about it, enormously anticipated tech largely untested on a global scale. It will endure a number of major 'hiccups' technically before it can be seen as sufficiently robust for investors to want to hodl it long-term.
There is already talk of heavily-leveraged long positions at prices which are probably not going to be achieved until it has at least recovered from the shock of its first network failure, which hasn't happened yet. Those positions are going to start getting expensive to keep open and as the market settles lower and lower there will be people who begin to realise that the first major bug has yet to even be found, meaning that when it does there will be further drops in the price, short-term at least, offering a more predictable leveraged short opportunity.
Essentially you'll have a market saturated by traders who will have massive short positions ready to fire up at a moments notice and when they do, which they will, it will be a race to the bottom followed by consolidation and a settling period where everybody licks their wounds and wonders why the fuck they didn't treat this cryptocurrency market like every other cryptocurrency market. Because that is ultimately what it is, just another cryptocurrency market.
Add to that this questionable 10% 'Founders' reward which people generally think is way too high, and the currency as a whole starts to look less appealing.
