For the past few weeks, ChainCoin has been a cryptocurrency rock star. Will this trend continue or has it come to the end of the road? In all honesty, it's probably still too early to tell. But what I can tell you is now is probably not going to be the best time to invest in ChainCoin at least not for the long term. It appears the momentum for the coin had behind it has all but burnt out. Still, as the result of many ChainCoin HODLERS the price is still riding at $2.99 per coin at the time I am writing this. So if you invested early when the coin was under a dollar or even earlier just a few months or so go when the coin was going for just a few Cents! Congrats you have made a huge win, but sorry to say there is no reason you should expect ChainCoin to continue to trend up.
Should you buy a ChainCoin MasterNode? (MasterNode is 1000 ChainCoins)
NO!!! That is a very risky investment into something that was only a few cents a few months ago. If the coin was still a few cents then sure go ahead. But you can't wait until a coin explodes up before you get in on. It's already too late at this point. ChainCoin is more likely to go down a few dollars then go up a few at this point. The coin has only been over $1.00 for around a week and was far below that shortly before. Coins that rapidly raise are more likely to rapidly decline then rapidly increase and vice vera. If you see a rapid decline from ChainCoin back under a dollar then you can think about investing. But until then you are more likely going to see the coin go down then up. Not saying the coin can't go up, but that the odds aren't in your favor.
ChainCoin To The Moon?
Well, I would be lying if I told you the coin couldn't, but you should not expect it. One of the big things ChainCoin had behind it was the fact you could get the master node so cheap when it was in cents range. ChainCoin became its own worst enemy when the price shot up. Every cent the coin goes up it gets harder and harder for people to convince themselves they should be putting big money behind a non established coin.
What does this mean for ChainCoin?
There are many coins that are under a dollar that possibly could be worth far more in the future. That does not mean you should go out and spend your life savings on them. More times than not you are going to lose when taking long shoots. This is how gamblers get their legs broke. Yeah, sometimes you will win and win big. However, next time you go out and take a big risk you will likely lose even bigger. Not to say never invest in non established coins. If they are at the right price and you have the cash to lose then go for it. But is ChainCoin at the right price right now?
What do you guys think? Do you still think there is time to invest in ChainCoin? Love to hear from you guys in the comments below!