Early May Update: Technicals
WTCBTC is a bad looking chart on the daily timeframe with WTC rapidly losing value, from 4978 sats on April 21st to the current 3629 sats. It pierced the support zone on 3800 satoshis and next stop should be the horizontal support line at 3080 sats formed in the end of March.
It is not wise to open positions in WTC or any altcoin for that matter, until BTC settles and consolidates a bit as the last sudden move took the market by surprise and all participants are in suspense, waiting to see where bitcoin goes next.
Early May Update: Fundamentals
Below are some of the most important news around the project in the last 30 days.
- We would like to inform the community that Waltonchain’s Fully Operational Mainnet was officially released today, at 20:35:22 on April 24, 2019. (UTC+8). This was an announcement from Waltonchain on Twitter, marking a new era for the blockchain.
- On April 23, Waltonchain announced the launch of its global smart retail application child chain DMTC which integrates the concepts of Smart Agriculture, Smart Micromarket and Innovative Retail. DMTC is a project with promising potential in its future market application; and its value will be reflected in DMTC Token. After the cornerstone token exchange between Waltonchain Foundation and DMTC Foundation, DMTC Foundation will allocate 150,000,000 $DMTC the Parent-Child Chain Token Exchange for global supporters.
- KIRINMINER is the hardware device of the object layer to realize PoW mechanism and obtain Waltoncoin($WTC). KIRINMINER is one of the key parts in the Waltonchain ecosystem construction. After more than one year’s R&D and testing of the hardware, Waltonchain has successfully developed KIRINMINER with compact size, low power consumption and ultra-high hash power! Limited presale of the first batch of 200 KIRINMINERs has started on April 24, 2019. Shipment is scheduled for June, 2019.
- Here is one interesting article of all WTC notable partnerships – it was published on Medium on April 18th.
Below is our long-term forecast where we cover general market movements and sentiment shifts before delving deeper into the specific predictions for WTC.
Waltonchain is a blockchain focused on supply chain management that is working on software as well as hardware infrastructure to make the world more connected and informed about the decisions we make. The project was launched late in 2017 but has been conceived and worked upon since 2015 by its founder.
It tracks radio-frequency identification (RFID) data throughout the supply chain. Waltoncoin (WTC) is the native cryptocurrency token of the mainchain, and users can create their own tokens on subchains. Waltonchain is named after Charlie Walton, who invented RFID technology. It’s also an acronym for Wisdom Alters Label, Trade Organization, and Network.
RFID has existed for a long time but when you combine it with blockchain for IoT purposes, it becomes a very powerful concept and that’s what Walton is doing.
Using the hardware (chip) and the software (blockchain), Walton is creating solutions for different industry verticals where supply chain and logistics are fragmented to fill in the gaps.
Walton is a hybrid project based on both POS and POW. That’s why if you have WTC you have the incentive to earn passive income by staking WTC as well as running a masternode of WTC.
General Market Movements and Sentiment Shift
The downfall of altcoins that were mainstream media darlings at the start of the year, WTC among them, can be attributed, in part, to new, naive investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, weakened ability of altcoins to rally with it.
Reason for that can be novice investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.
These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.
Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, these observations are not opinionated but based on the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because if goes nowhere, ideas are worthless without execution and real users that see value in the project.
2018 was a very interesting year overall for the broader DLT community, “ICO projects” came and burst in a spectacular, fireworks similar fashion.
While the mass death of barely-alive-in-the-first-place projects causes some uncertainty and skepticism among the newcomers, it is something veterans and pioneers of this space have been longing for.
In order for DLT to become established, we need quality over quantity, we need convergence on standards and consolidation of communities to bring to life what we’ve been working on for years. With less noise, 2019 will act as a Darwinian selection mechanism, much like that of which the IT companies post-dotCom Bubble experienced.
This is a good thing and absolutely necessary for the real maturation of the space.
Our WTC Token Price Prediction for 2019
WTC, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, WTC can hope for one as well. Since that is very unlikely, don’t expect much to change for WTC price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.
When Bitcoin goes up swiftly, it will likely:
- Suppress or depress altcoins as money flows into Bitcoin;
- Or, take altcoins along for the ride
In cases when Bitcoin plunges, it will likely:
- Depress altcoins as money flows into fiat;
- Or, cause altcoins to boom as money flows into them, but this is rarely the case.
When Bitcoin moves sideways, it will likely:
- Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
- Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.
To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
Overall, the price change of any altcoin token is explained by the dynamics of the bitcoin-influenced market. However, there are also fundamental reasons for the individual token rise and fall in price, which can be pinned down to a big tech upgrade or more often, big partnership.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
Waltonchain Coin (WTC) Future Outlook
However, not all projects have the same chance of failing (risk), nor do they have the same potential upside (reward).
As a result of ICO teams’ incompetence and lack of integrity, fueled by basic human instinct that is greed and crypto investors’ naivety, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will WTC be among those 5%?
Waltonchain has a solid technical architecture in place, massive team, alleged support of chinese government and enough partners to keep money flowing into the project. The real issue is whether it can attract enough SMBs, GMBs, and MBs to scale and support the massive supply chain infrastructure in place.
Waltonchain created a defensive, competitive “moat” around their business by combining both hardware (chips) and software (blockchain) and it is emerging as a leader in IoT + blockchain chip manufacturing by solving current hardware challenges. They manufacture patented chips that are more advanced, more secure, and cheaper (less than 5 cents each).
History has shown that truly innovative technology always takes longer to develop, costs more to fund, and is frequently doubted before officially coming to market. Despite WTC having been around for quite some time (~2 years, or 200 years in crypto-years), the innovative efforts and challenges Waltonchain is taking head on are easily some of the biggest in the crypto world. Patience is a virtue…
However, before we can expect Waltonchain to see large adoption, it’s fair to say the broader crypto world will need to see some adoption of its own. It’ll take time, an effective marketing campaign, greater awareness, further development, and meaningful partnerships to exist before one can expect a ramp in adoption.
This makes Waltonchain one of the most intriguing projects to have in your portfolio – the upside is huge but the risk is even bigger. Investment in WTC makes sense only on a very long time scale and proper expectation management – it could easily end ingloriously.
All of this summed up means one thing: WTC might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect WTC will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Waltonchain – WTC Price 2019
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the WTC price, which will give us another point of view to consider:
Cryptoground.com is cryptocurrecy prediction algorithm that is moderately to overly bullish on most of coins, similarly on WTC token as well. They forecast WTC to climb up to $5.70 per token by EOY, which means a 3-4x increase in comparison to the current price.
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins, but especially for WTC. According to them, WTC is expected to sink by almost two orders of magnitude – from the current $1.27 to $0.06 by the end of the year.
Trading beasts is on a diametrically opposite side of Walletinvestor and sees a much more bullish future for Waltonchain token. Their algo forecasts that WTC can climb to around $8.67 within a year which means it will essentially grow 5-6x in value in the next year.
Another crypto prediction algorithm that is most conservative in its approach of the 4 we enumerated here – DCP usually predicts price to hover around the same level as the current state, forecasting a twofold increase or reduction for certain coins. WTC is on the bullish side of their algo that sees it reaching $2.37 per coin by December 2019.