Every year we start by making our targets, this is what most of successful people do but another thing that these people do is that they work to accomplish every single one of them. If you weren't doing this until now then start this year...it's better now than never.
This is my first post of the 2021 and by the end of the article you'll be able to know the reason why I chose Polkadot to be in it.
What is Polkadot?
In one word, Polkadot means a Decentralized Web.
It is a bridge that allows blockchains to operate with each other in a parallel manner by unifying them into one network.
Why is Polkadot unique?
- Polkadot can support an infinite number of blockchains and allow them to connect together.
- Different Blockchains means different consensuses. But, Polkadot's platform can make adaptable consensuses to host them.
- Cross-chain Transactions insures transfer of value between different blockchains.
- Blockchains that connect with Polkadot can be secured by a unified security umbrella.
Polkadot's governance is all in the hands of it's holders. Everything, even the upgrades, bug fixes, network fees...This is why it is called decentralized after all.
Projects built on Polkadot
Polkadot is an outstanding and giant ecosystem and there are more than 188 projects being built on it. These projects include DeFi, cryptowallets, tokens, Oracle, 0x Protocols, etc.
A few projects are already being built in its platform, mentioning here Chainlink, Ankr, Celer Network, Akropolis, Ocean Protocol, 0x Protocol, imToken, etc.
Polkadot's giant ecosystem offering an enormous different valuable things are getting the attention of not only investors but most importantly the attention of the new developers. As we talk more and more projects are being built on it, this makes Polka even bigger, more advanced and last but not least more valuable.
All these things that I've mentioned will and also have positive influence in Polkas token. This is why it is a very good thing to start investing in Polka, because by the end of this year I think you'll be ending it very happily with it's value.
Technical Analysis of Polkas Token
In order for technical analysis to have meaning and value, you have to see what happened in the past. In some of the Tokens what we can analyze is only the short term movements, that means we can make analyzes that are based in 4hr timeframe.
Anyhow! This is Dot in Weekly TF, where I've marked the most important zones.
We can see that 6.08 area is a pretty significant area which price action need to retest after this strong bullish candle is closed. But before we enter any pending orders, I suggest to wait and see how this weekly candle closes. I'll though keep you updated.
Cheers to 2021, may this year give you health and wealth.
What's your thought on Polka?