Why I am holding and buying CIAU.
Blockchain technology is what makes Bitcoin possible. Bitcoin has had a substantial upward move this year and, in just the last week, is setting all time highs. This draws the attention of investors. As those investors research bitcoin they find that blockchain technology is at the root of bitcoin. CIAU is one of the few names that come up when you look to invest in blockchain technology right now.
Look at the BTC/USD chart > compare with the chart of CIAU and GAHC(another blockchain name) > notice the correlation of bitcoin's first spike to $3000 and the large moves in CIAU and GAHC. That all time high draws investors who ask, "what is this and how do I get a piece of it?" > Notice how the subsequent decline in BTC/USD correlates with the selloff in CIAU and GAHC > speculators, particularly those who were late to the party, panic and sell as their original reasoning erodes = easy in easy out.
Now, in the last week, bitcoin is setting all time highs again after passing a possible catalyst for a downturn, the hard fork segwit. I am thinking this resurgence in bitcoin will draw another round of attention from investors who will follow that same crumb trail that leads to CIAU among few other names.
I am also very intrigued by the future uses for blockchain technology. I think the utility of blockchain will expand with the online business world, particularly as the use of smart contracts grow.
I bought my first chunk at .085 and .1 then sold some at .22 and more at .46 while retaining a core position. I am reinvesting my gains from the first spike incrementally buying around .05
Happy investing and trading to you all!