Coin Market Cap
 
Lisk (LSK) Is A Buy At $5, Smart Money Busy Accumulating For Long Term
Analytics / Breaking News / Cryptocoins / Lisk

Lisk (LSK) Is A Buy At $5, Smart Money Busy Accumulating For Long Term

Lisk Chart With Values Lisk (LSK) has taken one of the worst falls in the history of cryptocurrencies. It is currently down more than 85% from its ATH. The price is looking to recover long term but short term the bloodbath is not over. Regardless of that, Lisk (LSK) has managed to stay close to $5 for the most part. This is a cryptocurrency which at a price of $40, was expected by many to reach $200 by the end of the year. This optimism stems from a strong interest in Lisk (LSK) in late 2017. This was mainly because Lisk (LSK) emerged as a strong competitor in the smart contracts space and earned its spot in the top 20 league. However, during the correction, investors showed Lisk (LSK) no mercy as they dumped mercilessly on most exchanges. The good looking and robust smart contracts platform is once again in the forgotten coins list as investors move towards new, seemingly more attractive opportunities like Zilliqa (ZIL) and Ontology (ONT). This is the way it happens in the cryptocurrency space. Every coin has a FOMO period during which it spikes up based on speculation, hope and greed. It is then followed by a period of massive profit taking and panic selling. After that, a period of slow but steady accumulation begins if the project has long term potential. Lisk Chart With Values That is exactly the case with Lisk (LSK). Critics believe that Lisk (LSK) despite being an exceptionally sophisticated and user-friendly platform will still take its time as the project is a lot more demanding than it seems. They express concern that it is likely that other platforms might beat Lisk (LSK) to the race and offer quite early what Lisk (LSK) is working on to offer at a later stage. While that may be true, most analysts still believe that Lisk (LSK) is a strong buy at $5. This is because the project has outstanding long term prospects unlike some pump and dump projects that quickly lose their luster after the FOMO rally is over. The 4H chart for LSK/USD shows that Lisk (LSK) faces strong downtrend resistance at the momentum and can fall back to lower levels in the days to come. Future prospects however remain unaffected. Lisk (LSK) shows great promise long term as the project allows developers to build Dapps in the common Javascript language that most developers are already familiar with. Platforms like Ethereum (ETH) on the other hand require developers to first learn a new language, like Solidity in the case of Ethereum (ETH). The learning curve means that developers may not have the flexibility to work with the new language as they would with an already popular language like Javascript. In addition to that, Dapps built on Lisk (LSK) are built on sidechains. This means that if something goes wrong with a Dapp, the blockchain will remain unaffected. Similarly, if something goes wrong with the blockchain, the Dapp will remain unaffected. This differentiates Lisk (LSK) from most other platforms as most small businesses do not have the resources to dedicate an entire department to blockchain. In most cases, they will be more comfortable letting their IT department take care of it. In that case, a platform like Lisk (LSK) will be able to meet most of their requirements in a cost effective and secure way.

You can share this post!

/uploads/2018/11/fakhan-profile-small.jpg

Fakhan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

Ethereum (ETH) Struggles To Break Past Strong Resistance

New York State Delivers BitLicense To BitPay