So Digibyte is up for another Citibank award and what could this mean for the Digibyte (DGB) price?
What happened throughout May and June?
On the 9th of June we had the 1st round where Digibyte could win a Citibank award. When the news came out on the 3rd of May Digibyte was up for a Citibank prize, Digibyte was hovering around the 70 Satoshi mark.
As soon the news came out that Digibyte was up for this award the price of Digibyte had a phenomenal 38x increase within less then a month.
Price Drop after the "negative" news
But as quikly the price had risen up, when the news came out that Digibyte didn't win the 1st Citibank award, the price came down all the way to 379 Satoshi (11 July).
379 Satoshi still far above the original take of price point of 70 Satoshi.
We have seen this before, so what can we learn from is?
Either you love or you hate DigiByte, we have learned that DGB has a huge potential to gain up to 38X in price within a month. But we have also learned that if DigiByte doesn't win the award it might be best for your pockets to sell DGB and buy it back when the price correction is over.
Potential for the September award?
So taken in consideration what we have seen in the past and how the public is affected by "hype" news on DigiByte, DGB has the potential to rise 38X from it's 500 Satoshi mark (taken in consideration news is out since yesterday). Currently 690 Satoshi.
Could we be looking at a 38x500= 19000 Satoshi mark in September 2017 ($0.52) I guess when I wrote this potential on the 3rd of May you would have thought I was crazy...
I have no idea if that will happen, but it might be worth the risk to buy a few I guess....
Yours Truly,
CryptoPaul