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Discussion in 'Marketplace' started by colt05, Jan 29, 2017.
What is happening?! The decred price was ~$2 and now it's going back down to a dollar.
One thing I would suggest is to look at it in terms of BTC as opposed to USD. Since there is not yet a way to convert directly between DCR and USD, the current USD price really isn't a good indicator because it fluctuates wildly based on the BTC<->USD exchange rate. That means the actual DCR<->BTC exchange rate could be completely stable, but the USD price would still move with the BTC movements.
That said, currently, the day low is 164900 satoshi (0.001649 BTC) and the day high is 243000 satoshi (0.00243 BTC). The current price is well in between that at 215000 satoshi (0.002150 BTC). Nobody can say for sure what it will do, but it doesn't seem to be out of the ordinary.
Will there be a DCR to USD exchange?
I'm sure there will be. Various people have been reaching out in that regard, but I'm not actively involved there, so I don't really know the details.
Fiat exchanges are not easy to put together as you need to deal with tax laws and financial services regulations as well as having startup captial. Having said that, once Decred proves itself, which it is well on it's way to doing, they'll start popping up.
Price is exactly $2.00 as of now. The chart looks relatively stable but increasing over the past days. Strong buy support at ~150 BTC too. No magic ball here, but it doesn't look like anything remotely close to a decline.
Even still, this is a long-term project. Whales can and probably will manipulate the market for personal reasons. We should expect dips and rises. And the project status/work speaks way louder and accurately than the market price, particularly over the past 6 months. And things look very, very good.
Consider that a month ago the price was about $0.40, I should think that even a dollar is spectacular. The fact that it's hit 2 and has around 150BTC buy support (i.e not a pump-dump cycle) is nothing short of phenomenal and a testament to the skill and tenacity of the devs and community.
And a badass marketing team too ^_^
It's going back up to ~2.50!!!
@davecgh is right that the most natural thing to compare is BTC until their is a direct way to go to USD or other fiat.
Besides that, much like with Bitcoin and really every cryptocurrency that I've seen, the short-term volatility seems to be higher than with fiat currencies. Could be due to smaller market caps or something else. But the overall trend is what I think matters a lot more. Of course I felt the same way about stocks back in the days when I had to care about that market a bit more than I do right now.
What did I say?
Decred was released right at a year ago. Dash did it, Blackcoin did it, even obvious pump-and-dumps like Rubycoin have a sudden, sharp, and seemingly permanent uptick in value right around the 1-year mark.
Just wishing I'd been able to buy up every credit I could get my hands on when it was at 40 cents.
Has anyone done a chart of price vs. coin age for a large number of alts? I couldn't find one with a quick search but it would be interesting to see if someone knows of one.
It's at 3 bucks (while Bitcoin is at ~$1,030 according to Blockchain)