Has Civic Been Waiting For A Moment Just Like This?
Civic was created by Vinny Lingham, who previously founded Gyft, which he later sold for approximately $50 million, if I remember correctly. Vinny became interested in Bitcoin during his time at Gyft and added BTC as a payment method to address the tremendous amount of credit card fraud the company was experiencing. The implementation of BTC proved to be a very good move and ended most of the problems they were experiencing.
Anything that can help a business owner improve his business can also capture his attention. This is exactly what happened with Vinny, sending him down the Bitcoin rabbit hole. Vinny went on to make some pretty astounding BTC price predictions, which later earned him the nickname, ‘The Bitcoin Oracle’. He has, however, been rather quiet of late regarding the Crypto market and where it is heading.
Civic launched its ICO before the ICO frenzy that rocked the majority of 2017. One thing that Civic got right was shifting the majority of its capital from ETH to USD just after the ICO’s finalization. This gave the project a wealth of resources, allowing it to continue paying the team during the tough years of 2018 and 2019. This was a very wise move, and one that most teams tend to overlook. They don’t envision drawdowns; instead, they continue to believe the market will go higher indefinitely.
Everything You Need To Know About Civic Crypto (CVC)
Civic is an AI-powered identity service that verifies a user once. Then it allows users to interact across multiple platforms and services based on that initial identification, making ongoing KYC redundant. It has since rebranded itself as a security layer for AI agents. You will find that many projects rebrand and adjust as the market matures and finds a more decisive direction. It’s become a little bit of a common practice within the altcoin world.
Some may feel that this is a bit controlling, as the entire model is based on KYC. However, that is the way things are heading. Many choose services that do not require KYC, but the day is coming when that will become increasingly difficult. So, wouldn’t it be better to disclose your details to a single company that will authorize you and enable you to interact based on that authorization? This argument may cause Civic to appear to be the better option in the near future. Since COVID, it is very clear that this type of model will become the default design. Love it or hate it, this type of interaction is definitely on the way, making Civic a potentially good investment.
One ID verification that encrypts data and then enables users to interact freely without multiple barriers of entry. It seems logical that such a model will eventually take off, and that is when I would like to already be holding a decent bag of CVC! Thanks to current market conditions, CVC is trading at a bargain price.
Civic (CVC) In The Charts: Price Analysis, Trends & Predictions
CVC has performed relatively well in the recent bearish trend and is showing signs of a significant trend reversal. Looking at the chart below, it’s clear there is a beautiful double bottom in play.
The neckline has been broken, and it looks very likely that this will be a valid pattern, potentially triggering significant upside. CVC’s market cap is $226 million at the time of writing. I must admit that I do prefer smaller market caps, but there is definitely a lot of room for a lot more upside and growth. I am not necessarily a big fan of Civic, but I don’t let bias rob me of an opportunity to make bank. There is potential, and I will be watching and slowly building up a small stack of CVC.
Always remember that these are my views and not investment advice. Do your own research and make your decisions accordingly. Despite its relatively large market cap, Civic remains a risky bet, as it relies on technology that is still very much in the experimental stage. Furthermore, many projects repurpose their use case as the market evolves. It’s not uncommon for an idea that didn’t take off to be replaced with a more relevant one.
Final Thoughts
Vinny has made some impressive moves in the past, so it’s plausible that Civic is yet another good move. The altcoin market needs to mature, though. Furthermore, this technology still requires a lot more adoption. Regarding CVC, I would consider a modest investment at these levels. Anyway, I will leave you with some food for thought. All the best, see you next time!