What do cryptocurrency analysts think about Pi Coin?

Question

Launched in 2019, Pi Network introduced a mobile mining model, allowing users to mine cryptocurrency using their smartphones. However, as the project progressed, analysts shared varying opinions on its potential and challenges. Positive prospects: Community engagement and momentum Some analysts see Pi Coin's recent price movements and community involvement as promising signs. Analyst Xia noted that Pi Network's upward momentum is growing rapidly, with the coin's price surpassing the $0.60 mark and strong trading volumes. She highlighted that the Relative Strength Index (RSI) and Moving Average Convergence Divergence indicators are (MACD) turning bullish, indicating further upside potential.

Additionally, during the Pi Fest celebration, over 58,000 active sellers and 1.8 million users on the Pi Map have been reported, reinforcing the positive outlook for the price of Pi Coin. Prudent View: Market Dynamics Concerns Despite the optimistic indicators, some analysts express caution about the market momentum of Pi Coin. Dr. Altcoin raised concerns about potential money laundering through the micro wallets linked to Banxa, which could lead to price volatility. He warns that such activities could result in prices dropping to $0.44–$0.45.

Moreover, unlocking 7.8 million Pi on April 19 may increase selling pressure, posing a risk of price decline even though the price has recently risen by 6%. Long-term viability: Challenges and considerations Analysts also point out several challenges that could affect the long-term viability of Pi Coin. Thangapandi Durai, CEO of Koinpark, emphasized the uncertainty surrounding Pi Coin's transition from a closed network to an open market, noting that its true market value has yet to be verified. Sathvik Viswanathan, Co-founder and CEO of Unocoin, highlighted concerns about Pi Coin's lack of full integration into the blockchain and its absence from major exchanges, raising questions about liquidity and usability. Conclusion: A project is in the process of transformation. Pi Coin is at a crossroads, with its innovative mobile mining model attracting a significant number of users. While some analysts are optimistic about the momentum and community engagement, others warn of potential market manipulation and challenges in achieving long-term viability. As Pi Network continues to grow, the coming months will be crucial in determining whether Pi Coin can establish itself as a sustainable and valuable cryptocurrency.

QuantumBubble · Accepted Answer

#PI# The more I think about it, the angrier I get. Ninety-five percent of the mainland has no mapping, and we've been running alongside for 6 years. Now they want to play people for suckers from the mainland's vanguard. Some sycophants say, "If you don't like it, then don't play." Damn it, after 6 years of clicking, you think I can just stop? What we want is fairness. Now, most of the mapping happening every day is locked for three years, and it's not even from the mainland. It's really disgusting. The mainland should have some backbone: no mapping, no purchasing.