FIL is at 1.17 now. The network upgrade is happening on the 19th, the day after tomorrow, and it includes a hard fork. One exchange is suspending deposits and withdrawals that day.
Most people see the words “network upgrade” and just scroll past. This time is different: it changes the rules for issuing coins.
The six-year genesis release period is coming to an end. After the upgrade, the number of new coins entering the market each day will be cut by three-quarters. Mining rewards are changing too: simply piling up machines and mining won’t cut it anymore. You’ll have to bring actual paying customers to the network to earn rewards, and the portion that isn’t issued will be burned. Put simply, it’s shifting from inflation toward deflation.
This is a real, tangible change, but it’s a slow-moving factor. It’ll take months to show up in the price; the coin isn’t going to take off the day after the upgrade on the 19th.
The chart looks clear to me. The price has hit the 1.27 level twice and failed to break through. On the day the news came out on the 12th, it surged to 1.25 and got pushed back down, then fell to 1.04. It’s at 1.17 now, making a third attempt to move higher.
So I’m not chasing it at this level before the upgrade. Everyone already knows the good news, and a sell-off on the 19th is nothing unusual. If you really want to get in, wait for it to come back around 1.0—that’s where buyers have stepped in several times on the way down.
If it loses 1.0, leave it alone. That would mean the market simply doesn’t care about the upgrade.
One more thing to keep in mind: this coin is down 99% from its all-time high in 2021, and it only hit its all-time low in August. Don’t jump in expecting it to return to the way it was. #fil $FIL
Most people see the words “network upgrade” and just scroll past. This time is different: it changes the rules for issuing coins.
The six-year genesis release period is coming to an end. After the upgrade, the number of new coins entering the market each day will be cut by three-quarters. Mining rewards are changing too: simply piling up machines and mining won’t cut it anymore. You’ll have to bring actual paying customers to the network to earn rewards, and the portion that isn’t issued will be burned. Put simply, it’s shifting from inflation toward deflation.
This is a real, tangible change, but it’s a slow-moving factor. It’ll take months to show up in the price; the coin isn’t going to take off the day after the upgrade on the 19th.
The chart looks clear to me. The price has hit the 1.27 level twice and failed to break through. On the day the news came out on the 12th, it surged to 1.25 and got pushed back down, then fell to 1.04. It’s at 1.17 now, making a third attempt to move higher.
So I’m not chasing it at this level before the upgrade. Everyone already knows the good news, and a sell-off on the 19th is nothing unusual. If you really want to get in, wait for it to come back around 1.0—that’s where buyers have stepped in several times on the way down.
If it loses 1.0, leave it alone. That would mean the market simply doesn’t care about the upgrade.
One more thing to keep in mind: this coin is down 99% from its all-time high in 2021, and it only hit its all-time low in August. Don’t jump in expecting it to return to the way it was. #fil $FIL