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Is There Hope for $PI Network?The highly anticipated mainnet launch of the Pi Network, a project that had garnered a massive following of over 10 million users, was expected to be a watershed moment for the cryptocurrency market. However, the aftermath of the launch has left traders and investors reeling, as the PI coin witnessed a staggering 99% drop in value within hours of listing. A Case of Overhyped Expectations The Pi Network's mainnet launch was expected to be a game-changer, marking the transition of the PI coin from a testnet-based digital asset to a fully tradable cryptocurrency. With a massive user base and major crypto exchanges like MEXC announcing pre-listing trading, expectations were sky-high. The limited initial circulating supply of 1 billion tokens out of the total 9.7 billion was anticipated to create a supply squeeze, potentially driving prices higher. However, the reality played out quite differently. This lack of clarity has led to a situation where the coin's value is largely driven by speculation, rather than any underlying fundamental value. As a result, when the mainnet launch failed to deliver on the hype, the price of the coin plummeted. Technical Analysis From a technical perspective, the PI coin's chart is a picture of despair. The token's price surged past $330 in the aftermath of the mainnet launch, only to nosedive to as low as $0.66, marking a dramatic 99.9% drop. The decline has been relentless, with the token currently trading at $0.6766, down 24.48% in the last 24 hours. The Relative Strength Index (RSI) is at 31.87, indicating that the token is oversold, yet the selling pressure continues to mount. The chart pattern is bearish, with the token breaking out of a falling wedge pattern and failing to show any signs of a reversal. The open interest on the PI token is low, indicating a lack of conviction among traders, and the selling pressure is overwhelming. Gate.IO is the exchange with the most traded tokens, accounting for 29% of all trades, but even this has failed to stem the decline. What Went Wrong? So, what went wrong with the PI coin? The answer lies in a combination of factors, including: 1. Overhyped expectations: The mainnet launch was overhyped, and the market was expecting a moonshot. When this failed to materialize, the price collapsed. 2. Lack of clear use case: The PI coin lacks a clear use case, and the project's whitepaper is vague. This has led to a situation where the coin's value is driven by speculation, rather than any underlying fundamental value. 3. Poor marketing: The project's marketing efforts have been poor, failing to generate significant interest among institutional investors and users. 4. Technical issues: The mainnet launch was plagued by technical issues, including slow transaction processing times and high fees. Conclusion The PI coin crash is a stark reminder of the risks involved in investing in cryptocurrency. The project's lack of clear use case, poor marketing, and technical issues have all contributed to the decline. While the token may experience a dead cat bounce, the long-term outlook remains bearish.
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by DEXWireNews
1
Opinion: PI Network So this coin could do what LUNA did or UNI did, BTC has another leg up to 160k+ left during mania I wouldn't be shocked to soo it run to 10-70 dollar area. It has an interesting supply distribution similar to airdrop/faucet/mined coins; first come first serve just like it was with bitcoin, litecoin, and every other crypto currency (not tokens/pos/premine/etc...), the difference was this was free, all you had to do was press a button. It started in 2019 so about 6 years of supply distribution, and only KYC supply can be taken out. Most of the 100B supply isn't verified; so it'll be illiquid and you'll have about 70 million users with free coins with zero incentive to sell because it was free, that is also 70 million marketers. (lol) People saw what BTC did and what LTC did and KASPA, XRP, XLM and soo on. Valuations mean nothing when you have meme scams like TRUMP or TRUMPINU6900 or LUNC or DOGE etc... soo literally seeing 100B valuation due to illiquid and retard hodl mentality is within reach. Compare PI charts to UNI or KASPA or LUNC chart. It may actually behave more like XLM/XRP chart. This is a fresh coin at the beginning of it's price history. In this scam market, shapes of patterns will mimic/copy things of similar character.
by catscharts
2
Breaking: $PI Tanked Hours After Listing Losing 99% of Value.The long-anticipated Pi Network Mainnet launch finally took place, igniting a wave of excitement among its massive community of over 10 million users. However, the aftermath of the launch took a surprising turn as NASDAQ:PI witnessed a staggering 99% drop in value within hours of listing, leaving traders and investors in shock. Pi Network’s Mainnet Launch: A Major Milestone After a two-year delay, Pi Network’s mainnet launch was expected to be a game-changer, marking the transition of Pi Coin from a testnet-based digital asset to a fully tradable cryptocurrency. With over 10 million KYC-verified users ready to migrate their holdings, expectations were sky-high. Adding to the excitement, major crypto exchanges, including MEXC, announced pre-listing trading for NASDAQ:PI , and further listings were expected to boost its liquidity and adoption. The limited initial circulating supply of 1 billion tokens out of the total 9.7 billion was anticipated to create a supply squeeze, potentially driving prices higher. However, the reality played out quite differently. NASDAQ:PI ’s Price Freefall: What Went Wrong? Post-listing, NASDAQ:PI initially surged past $330, reflecting bullish sentiment and speculative enthusiasm. However, this surge was short-lived as the token nosedived to as low as $1.28, marking a dramatic 99% drop. This decline fell far short of traders' expectations, raising questions about the token’s market stability and fundamental soundness. Several factors contributed to this massive price drop: 1. Lack of Clarity in Tokenomics: Before the mainnet launch, Pi Network had a supply of 64 million tokens. However, post-listing, major changes were made to the token’s supply structure, leading to uncertainty and skepticism among traders. 2. User Restrictions & Migration Issues: Many Pi Network pioneers (early adopters) reported difficulties in withdrawing their tokens due to the platform’s restrictive mobile number verification process. Some users claimed they could only edit two digits of their registered number, effectively locking them out of their accounts. This led to growing frustration within the community, raising concerns about whether the restrictions were intentional mechanisms to limit token circulation. 3. Inadequate Market Support: Despite multiple exchange listings, liquidity for NASDAQ:PI remained weak, failing to absorb the selling pressure that followed the initial surge. With uncertainty surrounding the token’s roadmap, many traders opted to exit their positions, exacerbating the downtrend. Technical Analysis: Is a Rebound Possible? At the time of writing, NASDAQ:PI is trading at $1.44, reflecting a 97.93% loss from its peak. However, technical indicators suggest a potential for reversal if fundamental issues are addressed: - Relative Strength Index (RSI): The RSI stands at 35, indicating that NASDAQ:PI is approaching oversold territory. Historically, assets with an RSI below 30 tend to experience buying pressure, leading to a possible bullish reversal. - Fibonacci Retracement: The 38.2% Fibonacci retracement level is currently serving as support. A bounce from this level could signal the beginning of a recovery. - Falling Wedge Pattern: A bullish reversal could be on the horizon if NASDAQ:PI breaks above key resistance levels. However, sustained upward momentum will largely depend on the resolution of fundamental concerns surrounding the project. What’s Next for Pi Network? In response to the chaos, Pi Network has announced the launch of its Open Network Challenge, which aims to educate users about the ecosystem and provide interactive rewards. This initiative could help restore community confidence, but deeper structural issues need urgent attention. To regain trust and market stability, Pi Network must: - Provide clarity on tokenomics to prevent further market speculation and uncertainty. - Improve accessibility for users to withdraw and migrate their tokens seamlessly. - Enhance liquidity support through stronger exchange partnerships and clearer trading mechanisms. Final Thoughts Pi Network’s mainnet launch was expected to be a transformative moment, but its execution has left more questions than answers. While the project still holds significant potential, its future now hinges on how well it addresses the concerns of its vast community. For traders, NASDAQ:PI remains a high-risk, high-reward asset. While technical indicators suggest a possible rebound, investors should closely monitor upcoming developments before making any moves in the market.
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by DEXWireNews
6
Pi Network’s Open Mainnet Set to Launch 20th February, 2025The cryptocurrency world is abuzz with excitement as Pi Network, a decentralized ecosystem powered by its native cryptocurrency, Pi, prepares for its Open Mainnet launch on February 20, 2025. This long-anticipated transition marks a pivotal moment for the project, which has been in development for over six years. The announcement has already sent shockwaves through the market, with Pi surging by 200%, from $48.24 to $99.96, reflecting the immense optimism surrounding the project. Why Pi Network is Poised for Success Pi Network has built a robust community of over **19 million identity-verified Pioneers**, surpassing its initial KYC (Know Your Customer) goal of 15 million. This achievement underscores the project’s commitment to compliance and security, ensuring a trustworthy ecosystem for users. Additionally, over **10.14 million Pioneers** have successfully migrated to the Mainnet, exceeding the target of 10 million. This level of engagement is rare in the crypto space and highlights the strong belief in Pi’s vision. Utility-Driven Ecosystem Pi Network has already developed a thriving ecosystem with over 100 Mainnet or Mainnet-ready applications. These applications span various use cases, from decentralized finance (DeFi) to social networking, ensuring that Pi will have real-world utility upon launch. This utility-driven approach is critical for long-term adoption and sustainability, as it moves beyond speculative trading to actual use cases. Transition from Enclosed to Open Network Since December 2021, Pi Network has operated within an Enclosed Network, allowing Pioneers to complete KYC, migrate balances, and develop decentralized applications (dApps) in a secure, controlled environment. This phase has been instrumental in strengthening the network’s security, scalability, and utility. With the transition to an Open Network, Pi holders will finally be able to engage in transactions beyond the enclosed ecosystem, unlocking greater adoption potential. No More Delays: A Firm Commitment Despite past delays, including an extension of the KYC and migration deadline to February 28, 2025, the Pi Core Team has made it clear that there will be **no further pushbacks**. The February 20 launch is set to proceed as planned, instilling confidence in the community and investors alike. Technical Analysis The announcement of the Open Mainnet launch triggered a 200% surge in the price of Pi , jumping from $48.24 to $99.96. Although the price has since retraced to around $90.31, the asset remains in a strong position, with a 27.83% increase in the last 24 hours and a trading volume spike of 108%. This surge reflects the market’s optimism and anticipation of the upcoming launch. The technical outlook for NASDAQ:PI is highly promising. The chart pattern shows a falling wedge, a bullish reversal pattern that often precedes a significant upward movement. Additionally, the Relative Strength Index (RSI) stands at 61, indicating that Pi is still holding onto its bullish momentum despite recent fluctuations. The asset is also trading above key moving averages, further supporting the bullish case. With a total supply of 68 million PI, Pi Network is positioned for scarcity-driven growth. The limited supply, combined with increasing demand, could fuel a sustained bullish trend. The fact that Pi has held the **$40 resistance level** for months before the recent surge demonstrates strong support and investor confidence. The Road Ahead: What to Expect The transition to an Open Network is a monumental step for Pi Network, enabling seamless participation in Pi-based applications and transactions. This move will likely attract new users, developers, and investors, further solidifying Pi’s position in the cryptocurrency landscape. The completion of technical, product, business, and legal requirements ensures that the network is fully prepared for this transition. For investors and enthusiasts, the upcoming launch represents a unique opportunity to be part of a project with **real-world utility, a massive user base, and strong fundamentals**. The recent price surge is just the beginning, as the Open Mainnet launch could catalyze even greater adoption and value appreciation. Conclusion Pi Network’s journey from an Enclosed Network to an Open Network is a testament to its resilience, innovation, and community-driven approach. With over 19 million Pioneers, a utility-driven ecosystem, and a clear roadmap, Pi Network is well-positioned to become a major player in the decentralized space. As the countdown to February 20, 2025, begins, all eyes are on Pi Network. Whether you’re a long-time Pioneer or a new investor, the Open Mainnet launch marks the dawn of a new era—one that promises to redefine the future of decentralized ecosystems.
PLong
by DEXWireNews
4
Impinj Surges 26% on Stellar Earnings ReportImpinj Inc. (NASDAQ: NASDAQ:PI ) sent shockwaves through the semiconductor industry as its stock soared by 26% in after-hours trading following an impressive earnings report that surpassed Wall Street's expectations. The Seattle-based Internet-of-Things chip maker delivered a beat-and-raise performance, igniting optimism among investors and driving a surge in semiconductor stocks. Stellar Performance: Impinj's first-quarter results showcased robust performance, with the company reporting adjusted earnings of 21 cents per share on sales of $76.8 million. This exceeded analysts' expectations of 10 cents per share on sales of $73.6 million. Despite a year-over-year decline in earnings and sales, Impinj's outlook for the second quarter far surpassed estimates, with predicted adjusted earnings of 75 cents per share on sales of $97.5 million. Driving Innovation: Impinj's success can be attributed to its innovative approach to IoT technology, particularly its development of tiny tracking chips that connect items to the internet cloud. With applications spanning retail, transportation, logistics, and more, Impinj's wireless chips enable seamless tracking of items such as retail inventory, luggage, automobile parts, and shipments. Confidence in Future Growth: CEO Chris Diorio expressed confidence in Impinj's market position and future opportunities, emphasizing the company's bold vision to connect every item in our everyday world. The strong start to 2024, characterized by revenue and profitability exceeding expectations, underscores Impinj's potential for sustained growth and innovation. Market Surge and Stock Performance: Impinj's stellar earnings report had a ripple effect across the semiconductor sector, with other companies such as MaxLinear (MXL), Silicon Labs (SLAB), Texas Instruments (TXN), and United Microelectronics (UMC) also reacting to earnings news. While MaxLinear reported mixed results, Impinj's surge propelled its stock by over 11% in after-hours trading, forming a flat base with a buy point of 132. Industry Outlook: The semiconductor industry continues to witness dynamic shifts and evolving trends, with companies like Impinj ( NASDAQ:PI ) leading the charge in driving technological innovation. As demand for IoT solutions grows across various sectors, semiconductor companies are poised to capitalize on emerging opportunities and shape the future of connectivity and automation. Technical Outlook Impinj ( NASDAQ:PI ) stock surged to over 26% trading above the 200-day Moving Average with a Bullish Relative Strength Index (RSI) of 74. It is imperative to know that Impinj ( NASDAQ:PI ) stock is in the overbought region correction might lurk in the corners.
NASDAQ:PILong
by DEXWireNews
Impinj Set to Announce 1st Quarter 2024 Financial ResultsImpinj ( NASDAQ:PI ), a trailblazer in RAIN RFID technology and a key player in the Internet of Things landscape, is gearing up to unveil its financial performance for the first quarter of 2024. The anticipation surrounding this announcement is palpable, as investors eagerly await insights into Impinj's progress and prospects. Scheduled for release after the U.S. markets close on Wednesday, April 24, 2024, the financial results will be accompanied by a comprehensive discussion during a conference call and webcast at 5:00 p.m. ET / 2:00 p.m. PT. This event promises to provide a deep dive into Impinj's performance during the quarter ended March 31, 2024, as well as offering insights into the company's outlook for the second quarter of the year. One of the highlights of this event will be the management's prepared remarks, shedding light on key strategic initiatives, market trends, and operational highlights. The release of quarterly financial data and accompanying press release will further elucidate Impinj's ( NASDAQ:PI ) performance, providing valuable metrics for assessing the company's trajectory. Crucially, Impinj ( NASDAQ:PI ) underscores its commitment to transparency and disclosure, leveraging multiple channels to disseminate information to investors and the broader public. From its website and press releases to SEC filings and social media platforms such as Facebook, LinkedIn, and blogs, Impinj ( NASDAQ:PI ) ensures widespread access to material information about the company, its products, and services. This approach not only fosters transparency but also aligns with regulatory requirements, particularly Regulation FD. As the date approaches, investors are advised to closely monitor Impinj's disclosure channels for updates and insights leading up to the earnings release. Given the company's pioneering position in RAIN RFID and IoT, coupled with its strategic initiatives and market opportunities, the upcoming financial results are poised to provide valuable insights for investors navigating the dynamic technology landscape. Technical Outlook Impinj's ( NASDAQ:PI ) stock closed at 121.58 up by 3.39% on Friday's trading Session with a Relative Strength Index (RSI) of 53.85. The stock is trading above the 200-day Moving Average (MA). on Impinj's ( NASDAQ:PI ) stock daily price chart the last close candle stick was indicating a bullish engulfing pattern.
NASDAQ:PILong
by DEXWireNews
Impinj Triumphs in Patent Dispute with NXP SemiconductorsImpinj, Inc. (NASDAQ: NASDAQ:PI ), a prominent RAIN RFID provider and trailblazer in the Internet of Things (IoT) landscape, has announced the successful resolution of its patent litigation with NXP Semiconductors N.V. The settlement, detailed in an 8-K filing with the U.S. Securities and Exchange Commission, marks the conclusion of a prolonged legal battle, during which Impinj ( NASDAQ:PI ) emerged victorious in multiple trials. The agreement between Impinj ( NASDAQ:PI ) and NXP Semiconductors brings an end to all ongoing legal proceedings and absolves both parties from past patent infringement liabilities. Moreover, it encompasses a mutual licensing arrangement, granting each entity access to the other's patents. Importantly, the settlement extends its protection to resellers and end-users, shielding them from infringement claims related to the sale or use of UHF RFID products prior to the agreement's effective date. Central to the settlement terms is a substantial one-time payment and an annual license fee, signaling a significant win for Impinj ( NASDAQ:PI ). Chris Diorio, co-founder, and CEO of Impinj ( NASDAQ:PI ), expressed satisfaction with the outcome, emphasizing the company's commitment to fostering innovation while safeguarding its intellectual property. "Impinj ( NASDAQ:PI ) is passionately inventive," remarked Diorio. "Our extensive portfolio of over 305 issued and allowed RAIN RFID patents stands as a testament to our unwavering dedication to innovation. This settlement not only validates the value of our intellectual property but also underscores our dedication to fair competition and delivering cutting-edge solutions to our enterprise clients." The resolution of this longstanding dispute signifies a significant milestone for Impinj, ( NASDAQ:PI ) reinforcing its position as a leader in the RFID technology domain. With a robust portfolio of patents and a commitment to innovation, Impinj ( NASDAQ:PI ) is poised to continue driving advancements in the IoT and RAIN RFID sectors. Technical Outlook Impinj ( NASDAQ:PI ) is trading above the the 200-day Moving Average with a positive 14th-day Relative Strenght Index (RSI) of 72.84 indicating continuous bullish trend.
NASDAQ:PI
by DEXWireNews
Impinj Surges 11.7% on Stellar Q4 Results: A Beacon of HopeImpinj Inc. (NASDAQ: NASDAQ:PI ) has set the stage for a compelling narrative as its shares soared 11.7% in after-market trade following the announcement of robust preliminary earnings results for the fourth quarter of 2023. The RFID manufacturer's stellar performance has not only exceeded its own guidance but has also defied expectations, providing investors with renewed optimism and prompting a surge in its stock price. Breaking Down the Numbers: Impinj anticipates Q4 revenue to surpass $70 million, outshining its initial guidance range of $65.5 to $68.5 million. What's even more impressive is the adjusted EBITDA projection, expected to exceed $2.5 million, a significant departure from the earlier estimate ranging from ($0.9) to $0.7 million. This stellar performance has not only surpassed internal expectations but has also set a new benchmark for Wall Street analysts, leading to a potential upward revision of estimates. Market Reaction and Volatility: The market's response to Impinj's news has been immediate and profound. The company's shares have historically been characterized by volatility, with 31 moves greater than 5% over the past year. However, the 11.7% surge post-announcement indicates a substantial impact on the market's perception of Impinj's business. This level of volatility, while reflective of market sentiment, also suggests a heightened sensitivity to the company's performance. Learning from the Past: Reflecting on Impinj's recent history, a notable drop occurred nine months ago when the stock plummeted 28.5%. This downturn was triggered by the company reporting first-quarter revenue that narrowly beat analysts' forecasts, but earnings per share fell short of expectations. The subsequent weak guidance for sales and earnings per share further fueled negative sentiment. In contrast, the current surge is a testament to Impinj's ability to rebound and surpass expectations. Investment Landscape: Despite a 3.8% increase since the beginning of the year, Impinj's shares are still trading at $89.26, a 36.9% discount from its 52-week high of $141.40 in April 2023. This presents an intriguing opportunity for investors seeking growth potential in a company that has consistently demonstrated resilience and the capacity to exceed expectations. For those who invested $1,000 in Impinj five years ago, the current value of their investment stands at an impressive $5,627. Conclusion: Impinj's ( NASDAQ:PI ) surge in after-market trade is more than just a momentary spike; it symbolizes a noteworthy comeback and a testament to the company's ability to deliver strong financial results. As the market digests this positive news, investors may find Impinj an appealing prospect for growth in the dynamic tech sector.
NASDAQ:PILong
by DEXWireNews
2
BTCUSD interesting geometryHere is some interesting geometry on an outer edge ray. - Extrema point 0 on ATH - Extrema point 1 on PI * 27.3 (orbital period moon) High - Break on PI - Retest on 3.5 All within a tiny margin of error. The time between 0 and 1 ≈ 5 moon orbits The time between 0 and PI ≈ 16 moon orbits You could probably draw and find proportions everywhere on either scale, but what is the chance of them relating equally on both price AND time scales? How unique is this occurrence? Statistically probably a unicorn event. How great would it be, to produce analytical algorithms that find these price and time-dependent extrema points and relate them with each other via things like outer edge extension rays, to measure and test at what proportions they are broken/retested, and so change in status, to truly test how unique, predictable and structured-to-nature the market behaves.
INDEX:BTCUSD
by MVPMC
$PI - Pi NetworkPi Network might have just made it to the Guinness Crypto Record! Launched trading at $0, 01 cents on the 29.12.2022 on Huobi, it topped $345 exactly 24 hours later, that was only the IMPULSE WAVE, this impulse wave seems to be consolidating in the range $50 and $100, that puts waves 3 and 5 at over $1k! This is coin which has been mined for free on mobile phones since the project started in 2019 had a massive run in 24 hours, with 33 million active users world wide, it's trying to do something Bitcoin failed to do - a fair distribution to most people! Couldn't believe my Pi portfolio on the 30.12.2022 for a coin that I mined for free! The free mining on Pi Network is still active anyone with a mobile phone can still mine it for free although the mining rate has drastically gone down, but with 4 to 5 invitees actively mining you can still get 2,88 Pi per day at the current trading rate of $68, that's $195 per day!
PLong
by ankhramsiswmriimn
7
PI INDUSTRIES ANALYSIS!!RSI INDICATOR: is something which says the actually part of the price should be placed. cups and handles is a very bullish price pattern formation. and top of that, if rsi indicator is forming such pattern, then to speak on to it, the stock is a very great stock. i have check the fundamentals. the rations, sales analysis are very greatly performing. the two black line are the trend formation after the corona 2019 crash. and blue line is the old trend. the stock did gave its all time high recently. its possible to go more higher, since there is no drawback, or major risks associated to this stock. recent quarters too outperformed from the analyst projected estimates. great stock for swing trading and long term .
NSE:PIINDLong
by raghavchoudhary2016
Pi-Cycle Bottom PossibilityThis is the 2015 Pi-Cycle Bottom Indicator copy and pasted over the current price and aligned with yesterday's crossing. There are some similarities between the price action in 2015 and now. If something similar plays out, we may see some significant downside in the next few days. This wouldn't be a surprise as the CPI print yesterday was 9.1% and downside in most markets is to be expected. Similar to yesterday, in 2015 the price was in a small uptrend when the indicator crossed, which turned out to be a bull trap. This could play out in a similar fashion.
INDEX:BTCUSD
by MarkLefevre
2
Did we confirm bottom on BTC?Pi cycle bottom and top indicator has been pretty accurate over the history of bitcoin price action. It is currently once again flashing "bottom." If history repeats itself we may see a price action similar to what I projected in the chart aligned with the long term trendline. The Pi Cycle Indicator forecasts the cycle top and bottom of Bitcoin’s market cycles. It attempts to predict the point where Bitcoin price will peak before pulling back or will bottom before it takes off. It does this on major high time frames and historically has picked the absolute tops and bottoms of Bitcoin’s major price moves throughout most of its history.
BITSTAMP:BTCUSD
by CryptoBreakers
8
BTCUSD cringe log chartThe idea that something which never happened can't happen is a silly one On high timeframe BTC goes up from inception "So it's just gonna go up from here and never look back. Why ? because it never does." That is so silly - it also never tested a previous cycle top until last month - never closed below the 200 weekly or whatever until last month Pattern breaks While I do think the low 10k is a good buy, I don't understand why it couldn't oscillate around these price for years, or decades, lose this range and never go back or pump the million ? Why not? "goofy prediction dude" Same was said to the one targeting 30 when we were above 60
INDEX:BTCUSD
by Copege
1
🔥 Bitcoin Pi-Cycle Bottom Indicator Signals Bear Market BottomBefore we dive deeper into the analysis I want to give a quick overview of what the pi-cycle bottom indicator is, "The indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom." In short, the Pi-Cycle bottom indicator is similar too the Pi-Cycle top indicator, but with different values. Historically, the Pi-Cycle bottom indicator has signaled the BTC bear-market bottom within 3 days of the signal. This would mean that the BTC bottom will be in within the next three days. However, will the pi-cycle bottom indicator work again this time? There's only two previous instances of the indicator working, one can't really deduce statistical validity from an N=2. Funnily enough, people said the same thing about the Pi-Cycle top indicator last year. In hindsight, the Pi-Cycle top indicator did a great job signaling the technical top for the current BTC cycle (technical top = top based on indicators and on-chain metrics). Will this time be different? Maybe. The current macro-economic outlook is vastly different from the previous cycles. Bitcoin's correlation with the stock market has never been this high and, with inflation still on the rise and a recession looming, stocks are more likely to go down than to go up in the near-future. Unless today's CPI numbers will cause a huge 20%-30% sell-off, I don't think that BTC will bottom within the next three days. Time will tell. Nevertheless, I think that this indicator is one of the better bear-market bottom indicators. Bottoms never occur when people expect it.
INDEX:BTCUSD
by FieryTrading
11
"bTc hAs No VaLuE AnD WiLL CrAsH bELoW 10K"...PI CYCLE BOTTOM!!!I LOVE PICKING BOTTOMS...AGGRESIVELY...WITH HARD WOODEN STICK!!! xD P.S. I saw the 111DMA has almost crossed the "350DMAx2" in the beginning of April 2021 and COULD NOT STOP LAUGHING ABOUT THE MORONIC PI CYCLE "INDICATOR" WITH IDIOTS LOOKING AT IT BECAUSE WE WERE GOING TO 100K FOR BTC "AT LEAST" AND WAS EVEN ASKING IN TWITTER IF SOME STAGRAM FLUENCER RIGGED THOSE LINES FOR FAKE FAME....a month later in the middle of May -> ELON MUSK AND THE CHINESE COULD NOT STOP LAUGHING AT OUR STUPIDITY TO THINK IT IS GOING STRAIGHT TO 200K 500K AND THE MOON............ Will act accordingly this time instead of ridiculing SIMPLE MATH and those obviously clever guys that came up with that EXACT (+-2 days) TRIGGER FOR BTC TOPS AND BOTTOMS! =)
COINBASE:BTCUSDLong
by u3KbPTeH
4
Pi-Cycle Bottom Will Cross Tomorrow Most LikelyThe Pi-Cycle Bottom will most likely cross tomorrow. If the indicator remains predictive, and consistent with itself, the bottom should occur within a few days of it crossing. This would imply significant downside coinciding with an important CPI/Fed meeting this week. There is precedent for the indicator crossing and BTCUSD falling -40% within the following few days. I've wavered quite a lot on the question of whether the macro bottom is in. Mostly due to Ben Cowen's credibility and views, I'm currently leaning towards the bottom not being in and significant downside still to come. The pi-cycle bottom crossing in this context may impy we will see a large downside move in the next week.
INDEX:BTCUSD
by MarkLefevre
1