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My conservative guess of the cycle peak
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Yay, drawing lines which doesn't say that much I guess! But as far as following logics and in case Nano doesn't catch hype this cicle, I think $7.20 is a good price-target, corresponding to Fibonacci 0.618 or 0.382 (images 2 and 3), depending on what you perceive as the 2021 peak. After that, it's just price discovery, since not much data above this price is available, meaning support levels are not that strong, with the exception op Fibonacci-lines

I wouldn't be surprised to see higher prices, since the previous peak was influenced, partly due to the DDoS-attack, which made many exchanges disable deposits/withdrawals. People were also probably a bit cautious, because of the Bitgrail "hack" in 2018.

For people wondering about the DDoS-attack: it didn't effect the network that much. I experienced transaction times of around ~2 sec, instead of subseconds. But exchanges decided to disable deposits/withdrawals, which made people confused, as if it seemed like the network was fully halted, which was never the case. The Bitgrail hack was unfortunate, since it was by far the biggest exchange for Nano at the time (2017-2018). It turned out the owner of this exchange, Bomber, silently moved all funds to his own wallet over a course of several weeks and made a statement of a hack which never happened. People lost millions, which still need to be released (Italian court is slow), and made people associate Nano with losing their money with this "hack". Probably also a reason Nano didn't fully recovered its ATH in 2021

The network is greatly improved and has implemented way better spam-resistance. So if only no exchange-hack accurs, and a bit of hype joins the game, I believe far higher prices are more than just possible.

I just used halving predictions of several sites. They all predict it to occur around the week of April the 15th. Hereby a crappy Binance-source: https://www.binance.com/en/events/bitcoin-halving

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11 months ago