Well I have explicitly told my idea about the recent increase, that it looked like a dead cat bounce. It still does but the major bounce may yet to come as the lending rates are over %0.1 now. A lot of people shorted around 420-400. This usually causes price to spike up. What do you guys think? It may not reach even 500, but sub 500 is quite possible.
It seems that the bounce is over now and it is going back down below 400k satoshis. The fall is not as fast XMR and they are the two coins that have lost a lot of value the past week. Is there any news why this happened to FCT? There was good news about it saying that Tim Draper led a new $4.2m funding round but there is no effect on the price. Why?
There was effect on the price. It was at about 360k before and it's at 430k now. The dumping before was because of rising Bitcoin and whatever kind of manipulative attempts.
Ok so meaning if bitcoin continues to rise FCT will continue to go down. That is the problem, bitcoin is giving no signs that it will go down and is actually giving signs that it might go to $700 by the end of the month. Where will Factom be if that happens?
It's unpredictable what Bitcoin will do and even if it's price should be at $700 by end of the month, it's not predictable where the FCT-price will be.
But what everybody who knows more about Factom expects is:
1. Release of Testnet
2. Release of Milestone 2
3. exodus.io will implement Factoids
And what is always possible in Factom: Business-announcements like new partnerships.
The above is enough that the Factoid-price can rise out of own power. But of course, if Bitcoin should go up sharp and there is a longer "boring" time in Factom, it's likely that Factoids would drop. I personally feel more safe in Factoids, because my experience with it since exactly one year is: It always just needs a little time to see the next price-explosion.
And Bitcoin: I believe that it still has a lot of potential but there are also problems and there is controversy in the community. Both about the Blocksize. I believe that there is the risk that a respected group could fork it, backed by companies, to enable bigger blogs. That could lead into a scenario like we see it with ETH and ETC. That's one reason why I'm carefully with holding BTC at the moment.
