It was a flash crash that did this. Soooo putting in a massive buy wall to keep the market up
is probably poloniex.
What were the other coins being removed from margin? We should also check if there are large buy walls on those coins. That would be a smoking gun. I can only remember FCT.
It looks like a buy wall may have evaporated. Post 16th August, FCT and MAID seem to have
a very solid bottom.
FCT is boincing of a solid 0.0003 and MAID of 0.000015
Anyone else able to take a look at the rest?
If there is a smoking gun, iām likely to put a lot more gunpowder in and buy up as many cheap coins as I can.
I agree FCT is has the same fate as maid. CLAM was the pair involved in the crash but that was the opposite, too large long position and too thin buy wall created an instant crash.
BTS is the only other market being removed from margin but other exchange are more liquid in trading that coin so I think that is less of an issue.
MAID is primarily traded on poloniex and always was, and FCT only has a few other markets. The pair with the largest upside potential is definitely MAID.
So also a short squeeze on FCT? It does look like the FCT price is rising.
Also keep an eye on FCT price action? Where ever the FCT price action is going, so will MAID?
The orange circles in the above chart show a suspicious solid bottom on both FCT and MAID starting
after the 16th of August. Too much of a coincidence.
Considering all of the above, it does look like FCT has started a runaway price movement.
This would mean, poloniex needs near 3,000,000 MAID!!!
The current order bookā¦ i canāt download the whole thing, but if force to by at least 1,000,000
will knock the price up to 0.00003.
I see where you got your estimate for 10K satoshis.
Poloniex needs to cover these shorts. To recover 3Million maid, in the current order book,
we are going to BTC 0.0001.
Possibly the strongest MAID buy signal in the history of the project.
The moment you realise poloniex is going to have to make it feel like xmas for all of use while covering their shorts.
When I get timeā¦ or if someone else can, caption this for the MAID price, it will be legendary.
It is speculation that the wall is poloniex to cover the margin positions. I feel itās reasonably certain, I mean anyone who has followed the price / order book for a reasonable amount of time knows itās not normal.
We know by poloniex own admission all margin positions must be closed. Add the Wall + their forced exit and no more shorting allowed. This means anyone with an open short right now has their pants down. Because anyone buying, means that the shorters in the end will be paying for our cheap coins.
Buy now and make the shorters pay the premium, the sale wonāt last forever this is a very unique opportunity. Long term with Fleming on the horizon, I see this as a perfect storm. Iām all in.
Paying any price for our current cheap coinsā¦ iām not handing them over until launch, or at least for a ridiculous return. I think we are about to experience pricing in of value.
How would Polo decide which price to place the wall at if it is them? The wall used to be at a higher price, didnāt it? There were also some periods where a wall got ate up and then didnāt exist at all if I recall correctly. For the Polo theory to hold, wouldnāt they want to always have a bottom in place?
Perhaps they were probing the market for a stable place to keep a bottom?
At the higher price I think they were burning through too many bitcoins.
They could have been trying to find the sweet spot?
I guess they are lucky that MAID has never been lower. So they started buying at the previous bottom and had lots of people who would sell to them. In order to get the best price for their clients (the evil shorters, haha) they moved the wall lower. However, volume since then has slowly dried up and the price is slowly creeping up. Once an uptrend sets in, bots will end up front running poloniex and the market finds its fair value.
$2.50 once this short squeeze is over.
The price action will turn heads just as Fleming is released.
$3 - $5 per token pre launch wonāt be difficult to acheave.
What are the shorts going to do, give us more cheap coins!! Itās like pouring petrol on a fire at this point.
What are the shorts going to do, give us more cheap coins!! Itās like pouring petrol on a fire at this point.