Why did the price start to rise now and not 1 week or 2 ago???
Did I miss any significant change or news?
The main change that has occurred is that DRK coin was in its own bearish trend for the last several months. I believe it initiated when the theft occurred at C-Cex and many, many DRK kept being dumped on Poloniex. So while the rest of the alt currency space saw its own down trend that had a spectacular reversal (particularly with BC leading the charge) DRK was still in its own Bear trend. With the recent run up with the release of RC 1 there was a test of that bearish sentiment and a reversal appeared to occur. Now that the market has formed a very bullish pattern of cup and handle on the daily charts the order book is getting very thin at these prices and multiple whales who had been waiting on the sideline for confirmation have obviously been moving in to get a piece of DRK.
The difference between a bear trend and a bull trend is that in a bear trend the market "bear"ly (sorry) reacts to any positive news, but has an over-exaggerated response to negative news. In a bull market that is reversed. While there were plenty of updates and developments in the DRK space during the last two months they hardly made any impact on the price before encountering waves of selling pressure. Now every bit of positive news should make the price rise significantly. DRK being one of the few coins with TRULY innovative functionality will make it a serious contender in the altcoin space in the next 6 months to year.
I think now that the DRK market has been released from the stranglehold of the bear trend it will start to reflect some of the recent developments:
One, Dark send is functional;
Two, The maximum coin limit has been set at ~22 Million which was lower than the ~80 million it was for a time;
Three, X11 is its own very innovative mining algorithm;
Four, Dark Gravity Wave is its own unique difficulty adjustment functionality;
Five; the master node functionality is its own innovation which gives whales incentive to load up on 1000 blocks of DRK because now they act somewhat analogously to miners/PoS.
All that, and we have a known upcoming news event that is virtually guaranteed to raise the price, which is the release of Open Source. Actually according to Evan's timeline, 3 upcoming news events:
One, RC 2 which gives master node income generating functionality;
Two, a "trusted third party" vets the code;
Three, the release of the code as fully open source.
The coin has one of the most innovative Devs in the alt space. He is one of the only Alt devs I see playing in the same league of intellect as Satoshi Nakamoto. To get an idea of where DRK is goin one only need to look at the other recent hot investments in the Cryptospace. Look at Safecoin. They were able to raise $8 million in a day with just hype. They are suspiciously similar to namecoin in concept. $8 million dollars is over twice DRK's current market cap. If $8 Million flowed into an existing coin and not an IPO then the market cap would actually be an order of magnitude higher than $8 million because most holders actually wouldn't part with their coins at existing prices. Then look at Black Coin. The only innovation Black Coin had was how they set up multi pool which was really still a rip off of the Bitcoin Multi Pool concept, otherwise the coin's concept itself was a rip off of Mintcoin and PeerCoins PoS. I'll give it that it was a unique application of multipool functionality, instead of pointing the multipool at BTC they pointed it at an alt. Clever, but only a fraction of the cleverness we've seen in the DRK space. And that has gotten BC up to spot 9 on coinmarketcap as of today with $11 Million, AFTER a huge pullback in BC price (4 days ago it was $20 million, ~5x DRK's current market cap). If DRK gos up to meet or exceed BC in market cap that would put it at at virtually triple today's price. I think the fundamentals clearly suggest that its a matter of WHEN not IF that happens (at minimum). Barring any Black Swan events the future is looking rosy for the price indeed and its starting to look very cheap even at the current price.
