FCT Coin Potential Price Objective

FCT Coin Potential Price Objective

Let’s assume that the criteria I seek have been met and an impulse wave is now in development.

The great thing about constructive price action is that, aside from just suggesting that higher prices are likely via an impulse wave, it can also be used to create a potential price objective.

In order to create this price objective, I will have to use a method called a parabolic extension. This method involves taking the log-based length of the impulse wave and extrapolating that value from the base of the consolidation wave still in development.

The previous impulse waves are all of equal length and, if I assume that the next one will carry this exact characteristic, it projects a Factom future price of $500.00, representing a potential return of around 2,600%. This forecast may seem outlandish, but it is actually in line with the returns experienced by FCT coin and other cryptocurrencies.

Factom Mining

Cryptocurrency mining is the process in which computing power is used to create and maintain a decentralized network. These computers are used to verify and record the transactions that occur on the network. In return, the miners who provide their computing power receive fractions of a coin as a reward.

Most cryptocurrencies can be mined, but this is one characteristic that causes Factom to stand out from the rest: It cannot be mined.

Analyst Take:

I have outlined two key triggers that I am watching on the Factom price chart. These triggers will determine when the FCT coin price is set to appreciate. If the frenzy surrounding cryptocurrencies continues to garner public participation, I would not be surprised to see the FCT price hit $500.00, which is my Factom price prediction for 2018.

Factom (FCT) Currency Reaches $24.63

Factom (FCT) has raised more than 6.17% this week