INDUSTRY 09/15/17: As We Wait On This Week's Development Update, Edgeless Shows What Is Possible
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Wagerr 7 Day Graph From CoinMarketCap.com
This is a Wagerr 7 day snapshot taken from CoinMarketCap.com's website. For Wagerr Coin holders, I am confident most of us know by now exactly what this is, because we have been watching it in real time. We are very confident in Wagerr's amazing long term outlook, but sometimes you just have to keep your eyes peeled for the obstacles in front of you in the short term.
We knew going in that this period between the Mayweather fight and the blockchain sports betting application release would represent a challenging "pause". We knew the pause inevitably would be filled by people withdrawing/selling their Mayweather winnings. We also knew coin traders would look to sell some or all of their coin and move elsewhere to try to catch up to opportunities with other coins since things were going to be calm on the Wagerr front. A lot of traders would look at the opportunity cost of staying relatively still with Wagerr during the pause versus selling and then buying in on a potential coin that is going up in value during the wait.
So that is why we forecasted discount pricing because we knew the period would be "sell" dominated. The frustrating thing is that there is so much "buying" going on that Wagerr honestly is "buy" dominant right now also. Frankly, Wagerr's price should already be twice what it is presently. There are very few coins that are as "energetic" as Wagerr right now... or even hold a 7 day profile in perfect balance the way Wagerr's is. The number of peaks packed into the period shows you that Wagerr's price is constantly going up! That is the result of strong continual demand.
However, the price momentum is being stifled because sellers have set an invisible ceiling in the 8.5 cent range. As soon as the price reaches that range, sells come in to lower the coin's price overall. Wagerr has been in this cycle for so long now (over 2 weeks), that it's clear... only 3 things are likely to move Wagerr forward in price... Increased demand caused by anticipation of the release of the "Development Update" on September 15th, 2017, increased demand afterwards as a result of the development update, or Increased demand caused by the release of the sports betting application itself. Otherwise Wagerr is likely to cycle in this lower price buying cycle until the current development process completes.
When clients are coming on board, and buying Wagerr to bet with constantly, it's going to expand the market cap exponentially and we'll be able to tap into huge escalating growth. Until then, limited demand restricted to early investors "buying" is being balanced by the sell pressures that exist. So, to see the overall price appreciation that Wagerr is worthy of, we need to move beyond this pause via development release.
Another way we can accomplish that would be a successful "development update" on September 15th. If the Wagerr Development team provides sufficient insight into the timeline and product itself, that also could buoy demand in the same way that it has for Edgeless. Edgeless is up almost 20% the last 24 hour period on simple confirmation of their development timeline. Wagerr's development update could bring similar results. September 15th is certainly important for that reason. However, the long term health of the project is more important than rushing to meet any one deadline. So it will be interesting to see how the news on the 15th impacts the current overall price of Wagerr. Wagerr.Review will have more insight and information as it becomes available!