ICON is a verhoging based te South Korea, they have a working blockchain and an ambitious road-map for . Their primary purpose is to interconnect inbetween different blockchains, but they will also have ICO’s and brainy contracts similar to Ethereum (Five ICO’s ready to go kicking off on April ). The interoperability space is getting saturated with too many projects right now, but ICON is specially placed to succeed, they already have a working blockchain and partnerships with real-world companies including banks and universities te South Korea spil well spil connections with the Korean government.
The fundamentals are solid and very likely ICON is going to do good te . Ter this article, I am going to concentrate on price act. The idea is to develop a spel project to take advantage of market movements to maximize accumulation of $ICX. Even however this article concentrates on $ICX this ideas should be a good monster for any crypto project with strong fundamentals.
ICON initial coin suggesting price wasgoed $0.11, it entered the market at around $1.6 and had strong bull run that culminated at $13. The subsequent correction took $ICX back to $1.6 and right now has recovered to almost $Three.Five after being added to the main South Korean exchanges (Upbit and Bitthumb).
NEO had a fantastic spectacle ter . Similar to ICON, NEO is a blokchain podium from Asia, they are both from very patriotic counties, and both seem to have deep connections with their respective governments. Additionally there are similarities on their road-maps (Mainet launch, commence of ICO’s at some point ter the year) and cult following.
NEO Historical Voorstelling
For this comparison I will consider NEO price kicking off at $1. Ter the above chart, you can see the three main cycles of NEO price, the percentage of growth, percentage of correction and how many days each part took.
The very first cycle took NEO from $1 to $14 te a total of 21 days, the most significant thrust happened ter Five days with a growth of 1341%. The correction wasgoed of 71.31%, and it ended after 46 days.
The next bull run wasgoed 740% with the most significant part of the movement lasting around ten days. It corrected 77.6% ter around 120 days.
NEO final run took place on the last “ALT” season, it ran overheen %602 and it has corrected (for now) at around 74% I should be near the end if $BTC stays stable.
Correlation Inbetween NEO and ICON
So let’s attempt to figure out where ICON is right now compared to NEO. The very first ICON pump took place te a total of 25 days with an increase te price of 1196% and a very steep correction of 88%.
Wij just had a petite recovery run, and wij are very likely coming in the accumulation stage before the next pump. If wij were to compare $ICX with NEO’s historical chart, would be around here:
What wij can Learn From NEO
NEO had very swift movements that were originally shorter ter time and got extended ter each cycle (Five, 14 and 60 days). Te the case of NEO the very first movements were precipitated by news (re-brand, government connection speculations, etc) and the last movement wasgoed precipitated mostly by ICOS, normal support of the community and the “alt season”. After each movement there wasgoed a subsequent correction of at least 70%. Accumulation stages seem to be getting longer spil well. If NEO where to proceed te the same pattern next top would be $370 but it may take a long time.
My Activity Project for $ICX ter the Following Months
If market conditions permit, there is a significant budge coming for $icx at some point te the next two months. If NEO is any indication of how much it will grow It could potentially go spil far spil $30 or $40 or even more ter the case accumulation is extended.
I project to take profits one or two times on the way up on the green zone, and I will take up to 30% of my position ter total ICON depending on the aggressiveness of the movement. If the growth is slow and sustained, I will not take any profits, hold and wait for a prompt and sturdy budge.
Hints that may indicate is a good time to take profits:
The pump is rumor related.
Movement is to prompt, more than 50% vanaf day.
500% to 800% te less than Legal days.
BTC at all time highs, or correcting right after.
I will then buy back inbetween 50% to 65% retracement to be on the safe side, very likely will set a few orders on the way down. I think the next big budge will very likely commence on Mainet release or will be based ter further advance of the road-map but fresh partnerships can come at any time, and the ICON team has proved to be very brainy and always waiting for the best market conditions for news releases.
Hints that may indicate is a good time to buy back:
More than 60% retracement.
Rumors prove to be untrue or disappointing.
BTC is pushing the market down.
Any type of FUD coming from Korea
It is very effortless to say “buy low and sell high”, but wij all know that the feelings involved te trading and investing te cryptocurrencies can be staggering. For that reason, I dreamed to develop a set of rules for my self to take advantage of the volatility while reducing risk to the ondergrens.
To be clear there is no contemporáneo correlation inbetween NEO and ICON, Most most likely ICON will not behave the same way spil NEO did te , this is a thought exercise designed identify trends and educate myself te order to take more rational decisions during high volatility times.
ICON may perform te a totally abnormal way depending on the circumstances, keep you eyes and mind open to all possibilities, thesis Ideas are just a guideline but reminisce “the ordner is not the territory” and go after the Bruce Lee Advice “be like water, my friend”.
It is also significant to mention that the total supply of ICX is way thicker than NEO. If ICX gets to the same prices I will end up having a much fatter market cap than NEO. Many will think this invalidates this entire thesis, but this is crypto, most retail investors don’t even look at the supply (see Ripple and Cardano).
I project to go after up on this article and share what I did along the way with ICX If you liked the article please take the time to like and share. You can also go after mij te Twitter If you liked the article fell free to leave a coment or like on steemit.
I would love to hear opinions on this, I waterput it together to gather my thoughts, but I figure it may be useful to others and I’d like to read to what others think about it.
Lastly I am not an native English speaker so I expect I messed up all around, Let mij know If there is something I can onberispelijk and I will do so gladly.
DO YOUR OWN RESEARCH I am a random dude from the internet. Make sure you own up to your decisions and take responsibility for any trades bad or good. I have no financial background and I am not a financial adviser (Never even finish my BA, and it wasgoed an kunst degree anyways ).
Thanks for reading and good luck ter your crypto journey.