THC looking to be finding its support
Updated
Over the past few days, #THC seems to have fallen pretty drastically, this is mainly due to three reasons.
1. The Pump and Dump groups that had been sitting on #THC for a while had decided that when the new is announced on the 26th, that would be their dump day. You can even see it starting to drop earlier on in the day from P&D guys selling early.
2. The team put out 3 announcements, the first being their 2018 roadmap, the second was some more information about their masternodes and the last being the official fork date of Feb, 23rd. People saw this as missing a deadline when really, it was the team doing the right thing and admitting they needed more time and didn't want to underdeliver.
3. BTC had another drop in pricing, causing people to panic and sell their #THC before doing their research and finding out exactly what was going on.
All these events, coupled together has brought THC to a price that we haven't seen in quite a while. However, we can't forget, the team is still going to release their whitepaper and their new website soon, and these should both be providing a bit more support and even a slight boost. Currently, #THC is still looking to be in a bit of a downward trend, however, it does seem to be gaining resistance and support slowly. I'd say it will probably continue to fall a bit more, or possibly stabilize where we are. If so, even buying in now should reap some pretty massive rewards in the long run. #Hempcoin has been a great way to quickly increase your profits, however, with all the news and plans the team has for 2018, I don't doubt #THC will become much more of a long-term hold!
1. The Pump and Dump groups that had been sitting on #THC for a while had decided that when the new is announced on the 26th, that would be their dump day. You can even see it starting to drop earlier on in the day from P&D guys selling early.
2. The team put out 3 announcements, the first being their 2018 roadmap, the second was some more information about their masternodes and the last being the official fork date of Feb, 23rd. People saw this as missing a deadline when really, it was the team doing the right thing and admitting they needed more time and didn't want to underdeliver.
3. BTC had another drop in pricing, causing people to panic and sell their #THC before doing their research and finding out exactly what was going on.
All these events, coupled together has brought THC to a price that we haven't seen in quite a while. However, we can't forget, the team is still going to release their whitepaper and their new website soon, and these should both be providing a bit more support and even a slight boost. Currently, #THC is still looking to be in a bit of a downward trend, however, it does seem to be gaining resistance and support slowly. I'd say it will probably continue to fall a bit more, or possibly stabilize where we are. If so, even buying in now should reap some pretty massive rewards in the long run. #Hempcoin has been a great way to quickly increase your profits, however, with all the news and plans the team has for 2018, I don't doubt #THC will become much more of a long-term hold!
Note
Looks like we may have finally hit our recovery and broken out of this downward trend!
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