Did the technical analysis indicate a steep drop for the ZAIF token? : Cryptocurrency Chart Watching

There is also a zaif token (counterparty's token) that was originally created for events and campaigns for the virtual currency exchange Zaif, and it is listed on Zaif's exchange.

That zaif token has been rising in a "mysterious" manner since August 17, and ten days later, on August 27, it crashed dramatically.

Did the technical team sense this big drop? It’s retrospective, but I took a quick look.

Before that, a quick recap of the background

Tech Bureau, the operator of Zaif, is planning an ICO platform called COMSA, and this topic has become one of the hottest in the domestic cryptocurrency scene, not an overstatement.COMSAThere has been a lot of talk that this background could lead to some benefit for Zaif token holders from COMSA, or that if Tech Bureau goes public and lists, the value of the Zaif token could rise, leading to speculation (some of it false). This rising trend seems to have been fueled by such speculation.

There has been no official announcement about collaboration with COMSA, and as written earlier, the Zaif token was created for events and campaigns. However, the name "Zaif" alone might have sparked broader imagination.

Of course, there was a possibility that such speculation could become reality, but buying based on unfounded speculation carries high risk, and many voices on the internet warned about this abnormal surge.



And on the night of August 27, perhaps because the market price deviated from the token’s original use (as recognized at that time) due to speculation and continued to rise too much, Zaif issued the following official statement.

Because there are too many questions for support, I will choose my words carefully: ZAIF token and the COMSA project currently do not have any plans to collaborate. Please take a moment to calm down. Also, we will not respond to further questions, so please understand. If there are changes, we will inform you separately.

— Zaif - Cryptocurrency Exchange (@zaifdotjp)August 27, 2017

Up to that point, the Zaif token had been on a downward trend, but prompted by that statement, it fluctuated violently to the point that Zaif’s servers briefly became inaccessible.

In the end, the situation was brought under control for now thanks to the following remarks from Tech Bureau's CEO, Mr. Asayama...

Given this situation, we will, sometime between now and September 8 next week, explore a campaign linked to the COMSA integration for Zaif token (not system integration) and report on its status. We will decide whether to implement it or not, and if implemented, what the outline would be.

— Takao Asayama (@TakaoAsayama)August 27, 2017