If you pay attention to your investments you will know that until yesterday the price of Chia has been going down steadily. Since yesterday, however, we have had a bit of recovery with the XCH price close to $200 USD again.
Well, all of cryptocurrency has actually. This is the problem with price predictions. You can pay as much attention to Bram and Gene, know everything there is to know about the coin and the developers behind it. You can memorize the Chia Trello board to determine roadmaps and become a real expert. But if Ethereum and Bitcoin go up, Chia goes up. If they go down, Chia goes down.
A lot smarter people than I have written about and spoken about what the BTC peg means for cryptocurrencies. I don’t even think I have anything interesting to say. But it is always worth paying attention to. That’s why I include the USD prices of BTC and ETH next to XCH on my site. Because they matter.
As I write this XCH is about to cross $200 USD for the first time in over a week, since the last crash. Is this the price to sell at? That depends. There is a lot going on right now, with exchanges and stablecoins as well as Bitcoin news about Amazon and its possible this is a bit of a price pump because of that news. My personal guess is that this price bubble is very temporary and I am strongly considering day trading some XCH on the way back down.
At the end of the day no one can decided what the correct price is to sell or buy something but you. I just wouldn’t expect that this price movement is anything permanent so do with that what you will. Always remember that nothing on this blog is financial advice and that even if it was only a lunatic would listen to me.
