Today I entered THC. Here’s the website. THC has an upcoming rebrand, new whitepaper, and brand new website. This is all supposed to happen on January 26th. The events drew my attention to this coin. Rebrands tend to draw a lot of attention to coins and in the past have resulted in success for the coin (project and price). The THC team is also planning on implementing masternodes. For an explanation of masternodes, click here. Adding masternodes is a huge catalyst for coins, and coins that add this feature almost always experience a price increase from this news alone. The developer has stated that the required amount to start a masternode will be 20,000 THC. Even if this coin doesn’t end up serving any useful or unique purpose, the attention from this complete overhaul of the project’s image will boost the price (welcome to crypto).
Next, I took a look at the fundamentals. THC has a total supply of 230 million. The project was dormant until early last year and by reading the forum posts, people have been buying this up since December 2017 in preparation for all of these January events. THC is a proof-of-work and proof-of-stake coin, meaning you can mint new coins by either mining them or simply holding coins in a compatible wallet. This means that the average person will have incentive to hold the coins in their wallet instead of just selling them when the price goes up which is great for the price because it creates more demand and less supply (on the market). The thing that convinced me to enter at the earliest possible good entry was the rich list. Here’s a link. As you can see, the top 25 addresses hold over 50% of all the coins. That could be some massive whale accumulation. All of this has convinced me to enter the coin. Next, I just had to do some TA and find a good spot to get in.
As it just so happens, now is a great time to buy this coin. Here’s a chart:
This is the 4 hour chart. As you can see, we are currently on an established support with 3 touches so far on the 4 hour. I entered at .000039 BTC (3.9k satoshi). There is another support at .00003 BTC (3k satoshi). If we break the first support, I will add more at the second support if we make it there. It seems likely that we break the first support, but I kind of doubt we make it all the way down to the 3k satoshi support so keep a close eye out for a good entry and check the chart often. In the meantime, try to keep up-to-date on any announcements or rumors with this coin. Pay attention to the bitcointalk thread and set Twitter alerts for their account.