I see a lot of people asking 'When will I get rich?" When will it hit a $1?" "How high can it get?"
A lot of this you can gauge simply by looking at other coins that are similar and how much "Market Cap" would be needed to raise the price of the coin. Marketcap referring to the amount of $$$ that you and I put into the coin. Let's take a look at an example.
Bitcoin has roughly 18million coins, and the amount of money the BTC fanbase have invested is currently $835 Billion. So basic math tells us that $835 billion divided by 18 million coins makes each coin worth roughly $46,000.
$835.000.000.000 / 18.000.000 coins = $46,388 per coin
Now let's take a look at Harmony, which has roughly 10 billion coins as opposed to the 18 million BTC has. Harmony only has $162 million from you and me, opposed to the big dawg BTC which had the $835B. So let's look at the math again for Harmony
$18.000.000 / 10.000.000.000 = $0.018 per coin
Ok, this is all great but when will I make money?
This is where the "investment" and risk comes into play. Let's pretend that tonight EVERY bitcoin user decided they wanted to dump all of their BTC because of some flaw and move it into Harmony. That means the Harmony market cap would skyrocket from $18 million to over $835 billion. Now harmony would look a little like this.
$835.000.000.000/ 10.000.000.000 = $83.50 per coin
Wouldn't that be amazing!? We would all be rich beyond our dreams. But the chances of that ever happening are zero-zip-zilch. But what happens if a % of that BTC following decided Harmony was a better option and switched over. Having 1% of BTC investors switch to Harmony would increase the market cap by $8.3 billion.
$8.300.000.000 / 10.000.000.000 = $0.83 per coin
There is currently $1.3 Trillion in the overall market cap for all coins combined, which means there is a lot of money in different altcoins. Investors are always looking into what's moving quickly, so once major movement happens they will switch from one coin to another, especially when a smaller coin like this jumps quite a bit. Last week when Elon tweeted about Dogecoin, a lot of people rushed to put money into Doge. Doge has 128billion coins as opposed to the 12billion that Harmony has. Doge went up roughly $.04 per coin over the past week. Had Elon tweeted about Harmony instead of Doge the amount of new money invested into the Harmony market cap would have drove the coin up to $0.40 as opposed to the $.04 it did for Doge because of the total number of coins.
What I usually do is try to find a coin that is similar to the supply Harmony has to get realistic expectations of where it could go. Cardano (ADA) has 31Billion coins, so that's 2x more coins than Harmony and the price sits just shy of $0.80 with a market cap of $25Billion. This allows me to justify Harmony having the capability of being in the $0.80 - $1.40 per coin range.
This still doesn't tell me when!!
That's where you and the community come into play. The word needs to get spread about Harmony and its benefits. I am not a financial advisor, but when I see my friends or fellow fathers at the kid's events I bring it up. I can usually get my phone out and show them my profits and a quick elevator pitch on why I like the investment. Talk about it on other Reddit forums and social media outlets. The word needs to get out about what Harmony is and then more people will be willing to invest. As the coin continues to increase it will grab the attention of larger investors who will push it up even more. The recent $GME is a great example of an investment that no one knew about, but the moment it started to get pumped the news started running reports about it and everyone had to have it.
You also need to understand that large increases and exposure will draw in a quick shift up and down. We had two amazing days of % increase and you can't expect every day the investment to gain. Days like today are going to happen, where we had amazing growth and now a correction is needed. A majority of the time it is a crypto wide correction. Today almost all of the coins are down and went down at the same time. Getting scared and selling or trying to get a better position by selling and rebuying only hurts the reputation. I personally have taken a majority of my Harmony out of the exchange and staked it so I can grow my coin bag without risking trying to play a dip and get burnt because it goes back up and now I have fewer coins than I did.
I want to emphasize I am not a financial expert, and you need to understand there is always a risk. We could have another crypto collapse and you could lose a majority of your money. YOU are gambling on what you think will happen. I wish you all the best and happy investing.
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