The recent price fluctuations of Pi Coin are significant, and whether it is worth holding or buying requires careful consideration.
Favorable Factors
From a technical perspective, some analyses suggest it has potential for price increases, such as the potential breakout from a symmetrical triangle indicating a price rise, and the RSI remains neutral, with no signs of overbuying. In terms of the market, its trading volume has significantly increased, it has been listed on several major exchanges, and there are rumors of being listed on Binance, which, if true, could drive the price up. Additionally, the KYC grace period will end on February 28, which will limit supply and may have a positive impact on the price.
Risk Factors
There are doubts about the operational mechanism of the Pi Coin network, and the code is not fully open-source, making it difficult to guarantee technical security and reliability. Its promotional methods have been questioned as being similar to pyramid schemes, and early on it was classified as a "scam" by law enforcement agencies. Global regulations on cryptocurrencies are becoming increasingly stringent, and the compliance of Pi Coin is facing challenges; if regulations tighten, trading and development may be restricted. Furthermore, its total supply reaches 9.7 billion coins, far exceeding actual market demand, posing challenges for price stability.
The cryptocurrency market is highly risky; investment decisions should be based on a thorough understanding and personal risk tolerance, and one should not blindly hold or buy Pi Coin.
If you think my remarks are not good, feel free to leave comments for discussion!!!
