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CryptoCurrency Analysts Initiates Coverage on SiaCoin (SC) With a Long-Term BUY Rating
7/8/17 @ 1:50:34 am CST Austin, TX – CryptoCurrency Analysts Initiates Coverage on SiaCoin (SC) With a Long-Term BUY Rating:
Long-Term = BUY (Target Price = 555 / 44.9% Increase)
Short-Term = HOLD (Target Price = 420 / 9.66% Increase)
SiaCoin (SC) is one of our top choices for long-term success within the CryptoCurrency marketplace. It has recently dropped from over 800 to a Low of 356 and now is around 383. It is currently riding down the lower Bollinger Band so the question really becomes where is the best entry price. At this currrent price of 383 we feel the long-term potential upside for SiaCoin (SC) overrides any short-term potential downside continuation. We are initiating coverage and putting a Long-Term Buy rating on SiaCoin (SC) with a Target Price of 555. For Short-Term Traders we recommend to HOLD with a Target Price of 420.
Click on Chart to Enlarge
Click on Chart to Enlarge
Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers. Nodes provide storage to clients using the Sia blockchain as contracts. Before storing the data, the data is encrypted into many pieces and uploaded to different hosts.
The Sia developers mined the first 100 blocks of Sia where the rewards begin with 300,000 Siacoins for the first block and each subsequent block reward decreases by 1 SC until the block reward stabilizes at 30,000 Siacoins per block.
Sia has a second cryptocurrency called Siafund where 3.9% of all successful storage contract payouts go to the holders. The Siafund is 100% premined with 10,000 units in total, of which 87.5% is owned by Sia’s parent company, Nebulous Inc. Siafund is created to finance the early development of Sia without relying on donations or premine.
Hashing Algorithm Blake2b
Genesis Date June 6, 2015 (about 2 years)
Market Capitalization $262,868,153.17
LINKS:
https://www.coingecko.com/en/coins/siacoin
https://coinmarketcap.com/currencies/siacoin/
UPDATES:
7/8/17 @ 16:48.56 pm CST Austin, TX – SiaCoin (SC) is currently trading around 404, which is a 21 point increase from our recommended entry point of 383 and would have provided a 5.48% return in less than 24 hours.
ACHIEVED Short-Term = HOLD (Target Price = 420 / 9.66% Increase)
7/9/17 @ 23:24:46 pm CST Austin, TX- SiaCoin (SC) has already risen well above our short-term target price of 420, so it would be a good idea to either take profits or put a tight stop-loss in place in case it retreats back to lower levels. For long-term traders, a stop loss should be put in place above your entry price to guarantee profits due to the volatility of the CryptoCurrency markets as of late.
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