We Scored Big On Mysterium (MYST): Here’s What’s Next

Back on December 4, 2017, we published this piece on Mysterium (MYST). At the time, MYST had just come off the back of a couple of really tough months and, during this period, had depreciated considerably from a market capitalization perspective.

That was on the wider timeframe charts, at least. When you zoomed into shorter time frames, things started to look a little different. We suggested that near-term action could indicate a return to the overarching upside momentum that had dominated this coin throughout July and August last year and, if this was the case, then-current pricing could be a great opportunity to pick up some cheap tokens in line with (and in advance of) a recovery.

As noted, this was on December 4, 2017.

Take a look at the chart below:

MYST Daily Chart

As the chart shows, MYST was trading for around $0.66 per token at that time. Fast forward to today, January 12, 2018, and the coin goes for $3.21 piece, having corrected over the last few days from highs in and around $4.52.

From our highlight price to highs, that’s a 584% appreciation.

So what comes next?

Well, as mentioned, the market is currently correcting and we think current action represents something of a consolidation phase for Mysterium. If this is the case, we could be once again looking at an opportunity to pick up some cheap tokens ahead of the market reversing to trade to the upside.

So what are the chances of a reversal?

If this market is going to strengthen, it’s likely going to need some sort of fundamental catalyst to get things moving again. Wider market sentiment is relatively weak right now and it’s unlikely that collateral positivity on its own is going to be enough to push prices higher.

As such, we’ve got to look at the company behind the token to try and figure out if there is anything on the horizon.

And there is.

On January 10, the team behind Mysterium put out this update, outlining development progress and highlighting certain milestones slated for near-term reaching.

And one of these milestones is a major one – a closed pre-Alpha of the company’s platform set up to facilitate testing. It will be a location shifting VPN service (without payments), accessible to the most active community members who have agreed to test it and share their feedback.

As a quick note, and for anybody new to this token, Mysterium is set up as a decentralized VPN built on blockchain technology and its proprietary token, MYST, is the token that will be used to facilitate payments across the network.

So, reportedly, once the pre-Alpha is in place and has been thoroughly tested to identify bugs, Mysterium is going announce approximate times of other releases. Once these dates are in place, markets will finally have some concrete timelines on which to focus as far as when this platform will be live is concerned.

That’s a major development in the sense that it removes a large portion of the risk associated with picking up tokens in anticipation of future growth and, as such, we expect it to drive a large wave of speculative volume flowing towards the company by way of its MYST tokens.

For us, this is more than enough of a near-term catalyst to get MYST moving to the upside once again.

We are going to be keeping a close eye on how things play out over the coming weeks as, by next month at the latest, we expect the pre-Alpha to be open and price to have finished consolidating.

One to watch.

We will be updating our subscribers as soon as we know more. For the latest on MYST, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Mysterium