It's sitting around $2.00 now. I wish I had found out about the coin and started mining more than two weeks before the hack so I could have more coins than I do.
With the Hardfork scheduled (and highly planned by the Dev Team in terms of timing); I think we will see MAGI [XMG] trend higher up and through the fork process on the 31st.
If you read my past posts I've done a fairly detailed analysis on XMG; in terms of how it's been a bit of a sleeper/hidden gem for a very long time. I'm personally holding, as I think in the coming year we are going to see a huge shift in the altcoin trading world.
Coins that have survived the onslaught of the years past; coins that have years of development behind them; by active developers/coders; Coins that have a huge following/long tenure on forums (XMG has nearly 1100 pages of posts on Bitcointalk alone dating back to the ANN Post in 2014); these types of coins will see large gains as more and more people are now:
A.) Becoming aware of Bitcoin/Altcoins and the Trading/Investment Opportunities they present.
B.) With the huge rise in BTC/USD's price; Altcoins have followed in terms of their value when paired to Fiat Currencies. This will give Altcoins like I mentioned above (such as XMG); huge leverage in the marketplace to be seen as a real means of trade (when a coin is only worth a penny, or fraction thereof; little opportunity exists)... However with XMG now in the $2.00+ range, and as mentioned it will likely trend much higher as it's been I feel one of the very few coins that's been overvalued in the past year; XMG will be able to gain traction in terms of how XMG is used; and utilized in the marketplace. There will be lots of development opportunities ahead.
C.) We see coins trading well into the 0.01 and even above range; which have little to no tenure in terms of time since launch. Yet XMG has had an active community; and development team for over 3 years, despite trading in the under 0.00010000 range. This to me is likely the largest indicator that the Dev Team are highly dedicated to this coin's future; and they aren't going anywhere. They've stuck with it for 3 years; while 99% of the Altcoins launched during that timeframe have come and gone and are now no longer traded at all.
I see no reason why XMG can't (and should), and very likely will, be trading in the 0.00100000 and up range in 2018. There is simply no reason it can't as the Dev Team; especially now; has gained the attention of the marketplace and people are taking notice.
It's important to remember that people are literally flooding into the Altcoin Trading World... so much so that Bittrex had to temporarily halt new registrations because their servers were overloaded.
2 New (large venture) exchanges like Bittrex have been announced to launch in 2018. With all of that; and what I have outlined in previous posts; XMG is a clear buy and hold for the long run. Trying to trade on the swings is risky; as all altcoins see wild swings in prices day to day. But I got into Monero and held all of my coins since it was trading in the 0.001 and under range... When BTC was $400... and those Monero cost $0.50 each, now valued at over $400.
Altcoin is a long term game. Simple as that. This recent rise in price is fantastic, but I believe this is just the beginning.
Cheers!
Strato
