Amp / BitcoinLong
AMP buy the fear
We are still in AMP's ideal buy zone. What this last cycle looks like to me is more of a 0.5 fib bounce from the first one, as shown in the chart. What this tells me is that it was for a shakeout rather than anything else, due to AMP wanting to make an expansive move in the future. Synereo was in the top 10 ICO's of 2016. Their staff are serious developers with very studious backgrounds and highly reputable track records. They have fully coded a product from scratch, which is the wildspark.me chrome extension. I highly recommend adding this project to the radar, follow the blogs and their twitter so you can see the progress being made. They are completely transparent, as well as their finances are publicly tracked and shown. They are in the "social media" bucket of cryptos, which will be the next big craze and pretty much the most promising one in my opinion when it comes to vision and capabilities. I recommend reading blog.synereo.com/2017/10/12/hitting-the-first-major-milestone/ as well as seeing twitter.com/Synereo/status/918768956789481472 and twitter.com/Synereo/status/919548335761084416 .
Do not be spoiled by this year and how many projects have pumped without any development or merit. This wont be the norm. With coming regulations and the way this whole space will change in the future, many of these vaporware projects have tried to make their money upfront and quickly, before they get exposed and end. The ones that have stayed low and are true with ongoing real development and promise and are doing things the right way will thrive, and return the massive gains we are used to in crypto, just like many of the top coins did, BTC, ETH, XMR, all these took time, this is what we forget. Now I am not saying you should have bought AMP at any price and baghold, there was a time to buy and there was a time to sell, which is as basic as spotting if the market is trending up, and once the trend breaks, sell. Same way that when the market is trending down, when it breaks, buy. Right now at these levels, you are buying up historical lows, meaning nobody has a cheaper price per coin than YOU. Nobody is left to sell here, everybody is underwater and in a loss. The only way for the market to go is up once the impatience and fear is over.
If we go to the USD chart, we see a much different picture, where AMP is drawing a line of support from prior time periods.
Also notice how it has snapped a USD downtrend and bouncing off of it confirming support.
For a few projections of where this price can go, considering the current valuation (market cap) and where other projects stand, the 4.72 would apply here perfect and be easily attainable, which will put us at a long term target of 0.00185
Notice weekly stochrsi also supports bottom here and potential growth.
Do not be spoiled by this year and how many projects have pumped without any development or merit. This wont be the norm. With coming regulations and the way this whole space will change in the future, many of these vaporware projects have tried to make their money upfront and quickly, before they get exposed and end. The ones that have stayed low and are true with ongoing real development and promise and are doing things the right way will thrive, and return the massive gains we are used to in crypto, just like many of the top coins did, BTC, ETH, XMR, all these took time, this is what we forget. Now I am not saying you should have bought AMP at any price and baghold, there was a time to buy and there was a time to sell, which is as basic as spotting if the market is trending up, and once the trend breaks, sell. Same way that when the market is trending down, when it breaks, buy. Right now at these levels, you are buying up historical lows, meaning nobody has a cheaper price per coin than YOU. Nobody is left to sell here, everybody is underwater and in a loss. The only way for the market to go is up once the impatience and fear is over.
If we go to the USD chart, we see a much different picture, where AMP is drawing a line of support from prior time periods.
Also notice how it has snapped a USD downtrend and bouncing off of it confirming support.
For a few projections of where this price can go, considering the current valuation (market cap) and where other projects stand, the 4.72 would apply here perfect and be easily attainable, which will put us at a long term target of 0.00185
Notice weekly stochrsi also supports bottom here and potential growth.
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