“Keep the faith. The vision is always for the appointed time. Be patient, prayerful and wait for the fulfillment of your visions.”
― Lailah Gifty Akita
PotCoin: Banking for the Cannabis Industry
http://www.potcoin.com
“An estimated 70% of cannabis businesses have no bank accounts...an industry expected to come short of $7 billion beginning in 2018, with expected tax revenues of approximately $1 billion...
...This is trouble waiting to happen.”
Los Angeles Times: Cannabis and Cash
http://www.latimes.com/local/abcarian/la-me-abcarian-cannabis-cash-20170129-story.html
And then comes PotCoin a digital currency created to bridge the gap between the legal cannabis industry and their consumers without the need for a bank account. Due to banks being controlled by federal laws, finding a bank that will accept deposits from the cannabis industry can be near impossible. Thankfully a number of coins like POT have stepped in to help the industry grow to realize their visions the way they were meant to happen such as Hempcoin (THC), CannabisCoin (CANN), and DopeCoin (DOPE) among others.
One of the first of course was PotCoin itself, introduced in 2014 the community mission statement states it seeks to be “the banking system and infrastructure this industry so desperately needs.” With a market cap nearing 66 million the coin is currently up 10x against bitcoin since July 2016 with its ATH reaching +6000% since the same point in time. It’s USD value currently sits around .20 with its ATH thus far being just above .50. Growth on the USD chart appears more organic possibly indicating when a breakout does happen it'll be something like what we experienced with MONA, RDD, and THC in the past year.
Through my team’s and my own technical analysis, I’ve come to be very bullish on POT Coin, not only because of my belief in their community mission but also due to multiple indicators that tell me this coin is going to the moon. As of now on the BTC chart POT seems to be trading sideways between the .618 and .786 on my long-term Fibonacci following a correction after a 200% rise. Looking at my pitch fan POT sits on crossover where a short-term support line meets long-term resistance. The next area of significant resistance I see is around 2100 satoshis. My overall hope is that we’ll get back to 5000 satoshis within the next few months.
Analysis:
https://www.tradingview.com/chart/POTBTC/7QXkUJMx-Analysis-on-POT/
I’m really excited to share this coin with you all! I can’t wait to see where this coin and the industry goes and I hope you’ll join us as we follow it to the moon!
-Brittany