BSOV Holding at $.23, Got Sellers?
BSOV has been looking promising in the last couple of days, at one point hitting a high of $.36 on Resfinex! Mercatox, Uniswap, and Resfinex have all been hit with buy orders pushing the price up over 100% after the release of the Cointelegraph article. BSOV is acting as a “store-of-value” as the whole purpose of the coin. The float is slowly decreasing because none have been mined since 2020 and thousands have been transferred on-chain. The selling pressure is lacking because to mine a new block it costs around $.60/ BSOV. The multiple 90% corrections seem to have done their job because most of the people in it for quick cash sold! I see price action continue to increase, in the near future over a quarter and beyond. As a long-time community member, this is super exciting to watch, and hope we keep the momentum going forward. The price has never been this high, and the cost to mine as well. This is unchartered territory because there is simply no way to undercut the production at this market value. Imagine 5 years from now we talk about $.23 as an incredible buy point! I look back on the articles I wrote over the last year and it puts it all into perspective. Everything in crypto is changing so fast because I believe mineable systems are superior to fiat systems. I would not be surprised if we continue to grow year over year pushing to $.30. The more people buy BSOV to HODL, the more the movement grows and the more value is assigned to the commodity. Also, keep in mind the moment this is profitable to mine unlike in the past, myself and many others have lots of hashrate ready to go at a moment's notice. It will not be as easy to dump onto exchanges as July-October of 2020 because it will be more competitive with who wins the block reward. I will continue to HODL and potentially mine in the future at a short-term loss defending the “store-of-value”.