Is PotCoin (POT) a buy or sell in November?

Is PotCoin (POT) a buy or sell in November?
Written by:
Stanko Iliev
13th November, 18:50
  • PotCoin is digital cryptocurrency solution for the global cannabis industry
  • There is still a level of uncertainty surrounding the PotCoin project
  • If the price jumps above $0.0080 the next target could be located at $0.0090 or even $0.0100

PotCoin (POT) price has advanced from $0.0050 above $0.012 in less than five days and the current price stands around $0.0069. There is still a level of uncertainty surrounding the PotCoin project but if the price jumps again above $0.0080 the next target could be located at $0.0090 or even $0.010.

Fundamental analysis: There is still a level of uncertainty

PotCoin is a digital cryptocurrency solution for the global cannabis industry which can be sent via the internet. This allows cannabis enthusiasts to interact, transact, communicate, and grow together.

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PotCoin was created in 2014 by Joel Yaffe and according to its official website, this network is secured and verified by thousands of computers using state of the art encryption. Anyone can join the PotCoin network and the Potwallet mobile app is available on Android, Windows and iOS.

PotCoin started trending online thanks to the exposure garnered by Denis Rodman, who referred to the currency as his “loyal sponsor”. It is important to mention that PotCoin sponsored Dennis Rodman’s visit to North Korea, Rodman wore the sponsored shirt, which has the slogan “Peace Starts in Singapore” written on it.

There is still a level of uncertainty surrounding this project but PotCoin is one of the cryptocurrencies which you should definitely not ignore. We can also not forget that regulations on the cryptocurrency market can actually be a threat to this cryptocurrency.

Investors in PotCoin should have in mind that this is a still very risky cryptocurrency but now could be a good moment to trade PotCoin (POT).

Technical analysis: Bulls are focused on breaking the resistance level at $0.0080

Data source: tradingview.com

On this chart, I marked important resistance and support levels. The important support levels are $0.0060 and $0.0040, $0.0080, $0.0090 and $0.0100 represent the resistance levels. If the price jumps above $0.0080 it would be a signal to buy PotCoin (POT) and we have the open way to $0.0090.

Rising above $0.0090 supports the continuation of the bullish trend and the next price target could be located around at $0.0100. On the other side, if the price falls below $0.0060 it would be a strong “sell” signal and we have the open way to $0.0050 or even $0.0040.

Summary

PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security. PotCoin price has advanced from $0.0050 above $0.012 in less than five days and the current price stands around $0.0069. If the price jumps above $0.0080 it would be a signal to buy PotCoin and we have the open way to $0.0090. On the other side, if the price falls below $0.0060 it would be a strong “sell” signal and we have the open way to $0.0050 or even $0.0040.

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