After Iota hit my hard resistance line and tanked, I looked at its long-trend history and noticed a pattern--each peak has been generally followed by a steep decline and then a rise to a new high. Within the coming week or even days I expect another uptrend here. However, the disappointing news about Bitfinex and the movement towards mainstream adaptation of blockchain technology has caused a panic sell and has probably turned people off from Iota. For anyone like me taking a long position on Iota, our best bet is to run wallets on full nodes to help Tangle grow. Additionally, while the Iota team is a brilliant bunch, they are largely lacking in social media outreach and marketing campaigns. While this is beneficial to us now, we must ask ourselves a few questions:
1. Will it be easy for companies or governments adapting Blockchain to switch over to Tangle?
2. Does the additional benefit of Tangle outweigh the time it would take to convert to it?
3. Wouldn't it be better to reach out to Iota about strengthening their marketing and social media outreach?
If we can't answer these questions, then we just look like a bunch of speculators who bought into the newest fad coin. We have to share the good name of the coin, folks.
1. Will it be easy for companies or governments adapting Blockchain to switch over to Tangle?
2. Does the additional benefit of Tangle outweigh the time it would take to convert to it?
3. Wouldn't it be better to reach out to Iota about strengthening their marketing and social media outreach?
If we can't answer these questions, then we just look like a bunch of speculators who bought into the newest fad coin. We have to share the good name of the coin, folks.