Important note on Audius (AUDIO/COIN)

Many people are asking me about my thoughts on Audius now that it has hit my target of $4, particularly whether I see further upside or not. So here goes:

My Current Position on Audius

My take profit target was $4, and whether you are trading or investing, you need to be disciplined and remember, or better, have noted down all the reasons why you entered at a certain price and why you will definitely leave at a certain price. I'm both a long time investor and trader so I carry both mindsets around with me on every decision I make.

On the day Audius went over $4 the price action was extremely bullish, it shot way past $4 and kept rising, however, the decision to exit had already been made long ago (as indicated by my original post on Feb 3rd), so I followed the price very closely and took profit as soon as it seemed like there was a pullback coming, I got out at 4.79. I entered at 0.226. 21x was more than good enough for me on this investment given that I had made the decision that 20x was the risk/reward ratio sweet spot beforehand.

Looking forward, the maximum upside potential now is maybe 3x to 5x this year from 4.79 exit (~$15 to $20) BUT getting big artists on their platform will make or break them, moreover, competitors will now be hot on their heels. As soon as a coin like Audius crosses $500m market cap which Audius did on that day, the big players will start gunning for it hard.

What happens now?

If spotify does a crypto or even one of the big music labels does a copycat platform (very easy to do) and brings all their big names on board, Audius will be in for one HELL of a battle. Most importantly, the risk now getting from $500m mcap to $3bn arguably is much greater, it will really have to prove itself in the big bad world. I know the Music industry extremely well, and it is not 100% professional and they will not play nice - has Audius built up, indeed, is it capable of building up, the kind of firepower and networks required to face that kind of music industry battle??

Can Audius handle a trainload of legal actions and underhand tactics whose sole purpose is to stomp all over Audius going forward? Will a competitor learn from all the mistakes Audius will inevitably make fighting such a war and become the real contender? Time will tell.

As an investor, my position is this, Audius will likely find tough resistance with further upside and there are other calls that I have been researching very deeply that have a good 30x-50x potential just as I saw 20x in Audius at 0.226 and I will be writing about those soon here. In conclusion, $6 is possible, but the risk/reward for me most definitely has shifted. If Audius proves the bonafides required to be a real contender I may re-enter, and I will do another update IF and as soon as I do, equally Audius may fall by the wayside, but for now, I'll watch it from afar!