The price of Pi Network is preparing to spend a moving week with the end of the Know Your Customer (KYC) verification process. Pi Network (PI) Coin, which is traded only on the HTX exchange, is at the level of $ 44, and the price is expected to show significant changes by concluding the KYC process.
The importance of the KYC process and the upcoming deadline
According to Pi Network developers, the KYC verification process will end on January 31st. This process, which has been extended twice before, could not be completed due to the fact that only 8 million of the 13 million users have carried their coins to the main network. In order to end the process this time, at least 10 million users need to transfer their coins to the main network.
KYC verification is just one of the three important conditions for Pi Network’s transition to the main network. The other two conditions are the completion of at least 100 applications ready to be published on the main network and the external environmental conditions become appropriate. Currently 80 applications are ready, ie 20 applications need to be completed. External environmental conditions have already been met.
Pi Network Price Movements and Effects of Transition to Main Network
It is estimated that the price of Pi Network may increase by more than 110 %if developers confirm that the main network will be launched in this quarter. This means that users who have been in coin mining for years can sell their tokens. However, the price is expected to decrease to the level of $ 30 if the date is extended.
It is known that many token, which was released after AirDrop in the past, has lost value. For example, token, such as Hamster Kombat, Catizen and Dogs, had double -digit decreases after Airdrop. This is also seen as a risk factor for Pi Network.
Pi Network Technical Analysis: Binary Bottom and Potential Rise
In the daily graph, the Pi Coin price fell to a significant support of $ 38 last week. This level is at the same point with the lowest levels seen in October last year. In the technical analysis, this indicates a double foot formation that shows that the price can enter the rise trend. The neckline of the formation is $ 91.50, and the breakage of this level can cause the price to rise rapidly.
In a similar scenario in October, the Pi Coin price rose from $ 37 to $ 100 in a few days. With the launch of the main network, such a price movement can be seen again.
Critical Week for Pi Network
The Pi Network price may experience great fluctuations depending on the explanations of the KYC process and the transition to the main network. If the developers confirm that the main network will start in this quarter, the price is expected to increase significantly. However, once again extending the process can have a negative impact on the price.
This week, Pi Network will be a critical period for investors. The potential launch of the main network can shape not only price movements, but also the long -term future of the project.
