People who had big lots willing to take some profit wouldn’t just dump but sell in a few slices, thus making more with little effort. Instead some have been dumping to force down the price suddenly, also maybe due to bets, let’s not forget those dynamics, the amounts of margin trades , how some guys & ‘business’ react to these.
maids in the market, where they should be
poloniex “lending” is putting up very cheap rates for large amount of coins I have seen, 100k for 0.00001 percent interest, a large BTC holder has a plan too buy up big after the shorts are taken and and push the shorter out of position is my conspiracy.
Another day and another 200BTC dump - someone has an endless pit of coins to dump it seems!
Cant even blame shorters - coins available for loan has barely moved lately, and certainly not by the amts being dumped.
With such thin market depth suprised its not lower already though - someone absorbing blow after blow like a champ
thank f*ck for the champ ! wish i could pitch in and help further… alas I am unable…
And to make it worse these guys can dump 200BTC worth and then buy some back at a lower price and do it all again. So maybe dump 2 million safe, buy back 1 million then dump 2 million more when price recovers a bit
The way I see it is the dump sets up the shorts.
So you have someone who dumps 100btc then buys up 200btc to clean up a.k.a “short squeeze” .
Impossible to tell whats going on really - i wouldnt be suprised if the same person isnt buying 75% of his own dumps at this stage though with the aim of shaking more out to buy back cheaper like u say.
Maid was around 4k mark back in Dec when BTC was at a similair price to now, but we’ve seen a fair chunk of progress since then. Dont see how MAID can keep dropping at the current rate for much longer - the irrationality of swiping 10% off the maid price each time BTC rises by $4 cant last forever surely
One clue we have is seeing 2 million SAFE being deposited into polo and then seeing it sell an hour later. That would suggest that someone is offloading their SAFE. And as @dallyshalla points out these are people from back at the crowdsale time.
Given the unlevel playing field manufactured, it will be good if these players are not re-entering. Lets hope, given their advantageous position, they are not predators. If they are, “what goes around, comes around”… Is that a threat?, nope, it’s a promise.
So, for those of us who are not traders and who want to hold and to continue supporting the project, it seems we just end up as some sort of faucet for shorters and predators. Can we have some ideas as to what to do? Hold and watch things slide to 8, 7, 5 etc or sell out and make things worse (and give cheap coins to the predators)? Can’t blame any traders for taking advantage of the situation or even creating it deliberately. From their perspective (profit, profit, profit), it’s a no brainer. I’ve watched this scenario so many times, especially on Polo. It’s gut wrenching. Salt in the wounds when people start on about cheap coins and buy back in etc. So can we have some words of wisdom for bagholders?
The vast majority of Crowd sale participants do not have tokens listed or stored on exchanges.
The vast majority of my Maidsafe are on paper. Your point is?
How can the vast majority of coin holders be a ‘faucet for shorters and predators’ when they are not participating in the market.
If your in the market, then your exposed to market forces.
What is the problem you are trying to solve?
Don’t fall for it, like you said yourself. Don’t panic, don’t sell. If anything, buy some cheap coins if you can afford it. Then in the end, it’s mostly traders messing with other traders.
I think for speculation you use money you can afford to lose…, and when things are working you could support through farming; especially if any short term (could be years) of volatility could affect your life
I think you meant to respond to altpath. I subscribe to the principle “I might be dead tomorrow so I will support ideas worth fighting for today.”
What is the hypothesis on the upward movement? I added some to the stash yesterday (99% luck 1% wicked skills) , but why the turn?
fomo reversal from btc to maid/eth again. price rise is just symptom of people chasing each other up the book, not being prepared to wait for orders to be filled, so buying from the sell book with their ‘fear of missing out’, creating a spiral as more see their buy orders too low and make the same choice to chomp through the sell orders rather than wait patiently (fomo - they are terrified of not being on board a btc 2013 style moon rocket).
we are now very close to a big release by the sounds of things, so the fomo has stopped being focused on btc and eth will soon follow suit as dao tails off, so smart money (imo) is running to where the fomo will next surface.
my 2 cents anyway, that’s why I am weighed down with all things ‘safe’ atm.
EDITED: to try to make my point clearer, wasn’t clearly expressed.
@Jabba What is fomo? Trying to digest your post
Edit: wait got it fear of missing out