27 June 2021: Yes, it is a fantastic day to be a holder of the FORTH Token, the governance token associated with Ampleforth (AMPL). With a rally that began yesterday, FORTH has since rocketed upward nearly 100% from under $10 per token to around the $24 range before settling around $20.
When Undervalued Meets Rising Demand
FORTH had trickled down to under $75 million USD in total market cap, a massive decline from previous levels. As the overall cryptocurrency market continued to be battered by selling pressure from short term holders, FORTH and AMPL were really no exception. AMPL held up better than FORTH did however, at least until this mega rally by FORTH back into a bullish channel.
With all the positive developments coming out of the Ampleforth development team as well as the updates and information given by Evan Kuo in his latest interview, it was only a matter of time before FORTH began to rediscover its fair value it the current market. With Bitcoin holding over the pivotal $30,000 - $31,000 USD price mark, that is still screaming mid bull run shake out rather than bear market.
For that reason, we didn't sell any of our holdings, especially in FORTH and AMPL despite a massive pull back. If FORTH can maintain the price channels it rocketed into last night, it could have a fantastic set up for the next major run upwards so long as momentum returns to the cryptocurrency market.
Summary
It is important to keep your head and to not rush into an FOMO esq buys immediately. Wait for back tests and confirmations of support on your favorite projects, including FORTH. If holding for the long term, we at RekTimes still feel that current price levels are laughably cheap for a coin that has only a 15 million total supply and is still under $150 million USD market cap.
As always, confirm your own trades if you are a trader. Make informed investment decisions and you will be set up for success!
Bonus note: RekTimes will be coming under a larger umbrella in the coming weeks. As part of the formation of a new think tank, RekTimes will continue to development into what it is already doing - news / project coverage & crypto analysis / development.
Additionally, in the future, this new think tank will eventually become home to climate change coverage, research projects, news, theories, and more. If you are interested in being apart of this project, it will be open source and open to everyone to ensure the best possible combination of bright minds and creative thinkers with the goal of addressing key issues in the world today.
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