Any reason why i should believe this will ever be worth more than 10 cents a coin?
Are there any reasons why it should be more that 5 cents per coin? Or 1 cent per coin?
When an asset starts to approach previous highs it is tempting to rationalise its worth as such. Technical traders may sell and declare:
this is normal.In truth however, the wild west of the cryptospace doesn't quite work like that.
The 38.2% retraction from Golem's ATH held confidently and thereafter upwardly rebounded, and the fact we're now knocking on the door of 0.0001 proves that GNT's worth is likely to be much higher. If that weren't the case, the price would have descended a long time ago.
We're in a process of price exploration. The combination of mainstream Golem exposure in publications such as Bloomberg and Wired is something that is likely to be built-upon and further compounded - an example of a successful Ethereum asset with demonstrable practical usage.
These are the ingredients of a luxurious asset rich in speculative energy that is prime for the new mainstream.
It starts with 10 cents per coin, and suddenly it is 20 cents per coin. And soon after it is 40 cents per coin. And in time speculators are wondering whether 80 cents is too high or too low, before it finally becomes clear that a 1 dollar Golem is actually a pretty good price for the current climate.
