When do you think ICN will reach $1 - $5 - $10. How do you figure marketcap to support these prices?
Peaks will be in March in August because those tend to be the months where all alts pump.
I think $1-5 will be in march due to:
- ICNX release
- Dividends being paid out
- Major exchanges like Polo, Bittrex, bitfinex etc... (I believe we will see it added to more exchanges when ICNX tokens are launched, they already said NDAs are ongoing with several major exchanges and they were in China a month ago so definitely expect to see it on major exchanges. I think dividends pay outs and the legal implications for those exchanges is still being figured out but sooner or later they will find a loophole.
I think $5-10 will be in July/August due to:
- OFM platform release should be released by then
- much larger dividends being paid every fortnight
- No inflation so miners are not putting selling pressure every day with freshly mined coins/tokens
- Debit cards providing real life liquidity which enables Iconomi to have it's own small economy which is a bridge between old economy and new economy. People don't realise the importance of this just yet because it will provide TRANSACTIONAL demand and not just speculative demand (kind of like how you can use Bitcoin as a store of value but also use to buy coffee at Starbucks)
Few external points that need to be considered:
- Marketcap will be extremely inflated and not true representation of the actual value because its reasonable to expect 75% of available supply to be in private wallets and not exchanges. Therefore, $1b marketcap is absolutely realistic. This is very similar to POS because people have an incentive to hold in their wallets. Even Ethereum is moving to POS next year with casper release. People don't realise this yet but POS is definitely the direction the industry is heading towards.
- Global economic sentiment for 2017 is quiet negative with really wealthy people in major economies like China and India using crypto to offset the devaluations of their local currencies. Europe is not doing too well either. Lots of uncertainty within global markets will be extremely beneficial for crypto.
- First mover advantage and lack of competition will also be a key driver
Let's hope the team delivers a high quality product and the rest will take care of itself.