IO has not performed well since it was launched on Binance on June 11 this year. From a high of $6.5 to a low of $1.9, the maximum drop is more than 70%. This is a project very similar to FIL. If Bitcoin represents decentralized computing, Ethereum represents decentralized smart contracts, and FIL represents decentralized smart storage. Then I think IO is the representative of decentralized AI intelligent computing in this bull market. Like FIL, the layout of the IO intelligent network requires a large number of GPU graphics cards as support. It should be noted that the training process of the AI model is extremely inefficient with ordinary GPU graphics cards. However, A100-type AI-specific graphics cards are hoarded in large numbers in the hands of computing power giants, but these super graphics cards with powerful computing power are restricted in large numbers. According to data, the idle rate of these super graphics cards exceeds 80%. Therefore, it has become a problem for IO to effectively connect super AI graphics cards through blockchain, so that super players and ordinary users can participate in this AI feast through blockchain technology in the AI era.
As for the price of IO, there are only 95 million in circulation, but after the short-term high of $6.5 on Binance, it began to fall rapidly, and the time level of this decline has expanded from the daily level to the weekly level. But based on this K-line pattern, we can review FIL in 2021. After the concept of decentralized storage was proposed in 2020, FIL had a 4-month adjustment process after it was just launched on Binance. After falling from a high of $51 to around $20, it began to gradually stabilize and step up. Later, it rose more than 10 times in just two months, and the final high point fell to $235.
Anything must go through four stages of development: infancy, growth, maturity, and decline. Looking back at the history of Bitcoin, ETH, and FIL, we can find the shadows of these four stages. As a new coin that has just been online for one month, IO is currently in the adjustment stage of landing on Binance with a golden key. At this time point, Bitcoin also fell from US$73,777 to a low of US$53,500. Therefore, IO in its infancy still has a period of infancy to go, but October this year is Bitcoin Month, and SOL, as the leader of this round of market rise, is bound to have a super bull market. IO developed based on SOL chain technology basically occupies the best track, excellent investors, excellent time node for listing on Binance, and prices gradually returning to value and other favorable factors.
Therefore, for IO, this round of market has the opportunity to make a 10-fold trend similar to FIL's performance in 2021. As for the lowest point of IO, I think it will appear in mid-August-September this year. It often takes only two months for a rapid upward attack. It is very likely that this round of market will have the opportunity to see an IO price of around US$30.
Limited to the horizontal K-line, the views of the Journey to the West strategy are for reference only and are not used as an investment basis
