Recently, crypto influencer and trader Elliot Wainman, owner / host of the YouTube channel “EllioTrades Crypto”, talked about three cloud storage games that could bring huge gains to its more than 294,000 subscribers.
Wainman started by talking about Filecoin ($ FIL), “an open source cloud storage market, protocol and cryptocurrency”.
He said that FIL’s recent price increase has been driven by Chinese investors and predicts the trend will continue:
“[Filecoin’s rally] is driven by the fact that major Chinese officials are starting to actively promote Filecoin mining.”
The reason Wainman believes China is so interested in decentralized cloud storage solutions like Filecoin is because China is competing with the United States.
“The decentralized cloud storage objective fits with the agenda of building its own internet infrastructure as a defense mechanism against China’s technical cold war. This is what America and China compete with technology. ”
Wainman stated that two other crypto projects that take advantage of Filecoin’s good luck are Siacoin (SC) and BitTorrent (BTT):
“[Filecoin’s rally] has ripple effects throughout the cryptocurrency world. We’ve also seen massive pump moves on Siacoin, up almost [200%] last month. “