I do not say that I am best trader - but I can consider myself as professional because daily trading of altcoins is my main income for 4 months (strange job I admit
) But I have enough experience to see that the price will not go much deeper that it is now. Here are the reasons:
- cinnicoin is PoS, so there is not constant influx of new coins mined and needed to be sold to cover electricity costs as it is with PoW coins
- PoS reward is relatively low. 15000000 total coins with 3,5% interest annualy means that 1438 cinnicoins are created daily - not many, it can be easily absorbed by market at this price
- distribution was fair, there is no premine, no instamining etc (unlike DRK and many other coins)
- the coin is technologicaly advanced, dev is communicative and supportive (unlike many other coins)
- price on level 8500-9000 satoshi is longterm minimum. Most of early adopters sold their coins during one of previous pumps. So most of the people who are selling now are selling with loss (and pain in the heart)
- BTC is raising - just now another rally started
Optimism will prevail, also many popular altcoins will rise too
- most of the money are in DRK now. But DRK is very risky business. The bubble can pop anytime. It is on longterm maximum now. If you look at charts on Mintpal check what has happened on May 17 00:00 - BC went down, DRK went down and CINNI started to rise
- If you look on Mintpal again you will see that CINNI has relatively high volume (it is nr.3 after DRK and BC). Change of price is around 0 %. Once it starts to rise slowly, it will attract many traders. Everybody will try to jump in.
So as you can see there are many reasons to buy. Of course I have done so already (at 9000 sat) so I can share my "wisdom". And of course I would like the price to rise soon. That is why I write this
But what I write are facts, not bullshit and "to the moon" cheerleading.
I also admit that I keep little bag from previous pump - I left myself 3000 cinnies just in case it will go much higher. It went down and its value is 60% of original value in BTC. So I bought 5times more now and even relatively little rise will cover my previous loss. It is difficult to guess how high will it go (this is where you must apply your own skills and where we will "fight" on the market), but I am sure it will go up soon.