So at last we have this long awaited M2 bounce.
FCT today's best performer up +18% as I write (more than 30% at one stage). Earlier intraday high at 0.00396 is more than 50% above the low hit during the panic.
It is safe now to say we have seen the worst. Even if it didn't hold, 0.00396 was well through the 0.0037 pre-flash crash level. This level could still act as a short term resistance but has much less significance now.
What cannot go down must go up, so FCT will probably go up from here. After all, 2 USD and below was really too cheap. Given the speed of the bounce , around 0.00335-0.0034 is a good zone to buy (right now 0.00342 so ok to FOMO if impatient), on the upside after the 0.0037 i see 0.0041-0.00425 the resistance levels, thats the weekly MA10, and still on a downtrend on this weekly chart. I think we will see these levels rather quickly with the current momentum. From there, i'm a bit more neutral.
https://dwq4do82y8xi7.cloudfront.net/x/jD9OX7TL/Those who say i'm a troll are idiots, and not reading my posts.
yes i missed this move from 0.003 to 0.0034
but if you read everything i wrote, i'm still out from 0.005 and now the bottom is in , its safe to buy , in between i gave specific recommendations to buy, including the last one from 0.0025 to 0.003
Trading is not about buying at the bottom and selling at the top. I prefer to buy at a slightly higher price and not stress when the price is in a downtrend....If something is cheap but in a downtrend, i use buy the dip strategy and slowly accumulate.
However one would be an idiot to think its a one-way bet, and a sure bet, and mortgage his house. Those who were on margin during the downtrend are out of the market, with no money and only their eyes to cry.
As for investing, i've disclosed I'm long the A-shares, of course i hope 1billion market cap stock one day, even better if its 5bn or 10bn. However I'm not putting all my eggs in the same basket, FCT is not my only investment, and in volatile times, if i have a losing streak (which i did, not on FCT), i prefer to reduce temporarily positions to increase them again when it gets better. Don't double when you're in trouble. Thats how you get REKT.
Still think there are much better tech than FCT available. Tech is not the reason why i invested in FCT. Its because its a business, because A-shares are a different proposition. Because Factom have salesmen. Because there is a potential market where they have a first mover advantage. So its a kind of unique play in the space, and if its unique, you must own it, if only as a diversification play. I see shares as a leveraged play on FCT token value (because they get consumed, and produced again, but sold by Factom, so there is a multiplier effect here), and an option on IPO stock bubble where you can see x50 or x100 multipliers sometimes....
Also when a company reaches critical size, you have mergers etc... it can make the company grow bigger, there is also the option that a big player buys out the smaller one at a (huge) premium.
Thats why shares is different play than the tokens.
We had this bear market in Alts, and now they're bouncing together, its correlated, and thought the timing is little asynchronous, there is less extra diversifaction with the tokens.
