New large buys at BTC-E collapsed the 0.002 BTC/PPC wall. PPC is now at 0.00214 at BTC-E, briefly touched 0.0022. PPC is now 30 USD-cents worth, like it was for most time in the bubble in April.
Very interesting is the bid/ask ratio which is pretty similar to that of LTC, although LTC has nearly 10 times the per-unit value than PPC.
PPC:
Ask: 541895.75 PPC / Bid: 1159.81 BTC
LTC:
Ask: 532733.44 LTC / Bid: 1417.63 BTC
Now: Is this a bubble / pump&dump or the long awaited upside correction? I think that long-term it will go up further, but for now possibly the rally is overheating a bit. Stay careful.
Half of the PPC available for sale on BTC-E have been bought up in the last week, Iâm surprised the price hasnât skyrocketed up even further. In the last week, Sell orders dropped by about half, and Buy orders have more than tripped.
Btc-e is currently the main market maker for ppc, so basically half of the entire market for ppc was just bought up this weekend.
And since Sell orders are down, it means those coins that were bought up are not showing back up for sale again.
It could drop back down again like in the past, but I think this time itâs different. PPC is beginning to establish itself, development is actively underway, people understand the coin better, therefore I believe this isnât your typical pump and dump, but is making an organic rise up from strategic investors, and people who have more solid belief in the coin overall. PPC should continue to gain momentum as time goes on, as people realize it actually has true value and benefits over and above BTC & LTC. I would not be surprised if PPC continues to rise. It strikes me as a similar comparison to where Bitcoin was in 2011-2012. We could see a spike to as high as $3.00 usd, then later a spike to $30.00 usd, just like Bitcoin did.
I want to see more utility for ppcoin. Right now you can mostly use it to tip people. I want the equivalent of Bitmit, Gyft, Bitcoin ATM, etc. to support it.
Very bullish day today. PPC got near the record high of 0.0035 from April. But there is harsh resistance at this price level
What is very interesting is that the ask volume is drying out. At BTC-E there are only 180.000 to 250.000 PPC left. The bid/ask level is now much more favorable than that of LTC.
Can PPC healthily stabilize on this price level or will it be more like a rollercoaster?
PPC has been gaining about .0005/BTC per day pretty steadily on high volume. If PPC breaks .004/BTC it could easily go to over .01/BTC. PPC is testing the market right now, before going onto new all-time highs. Some have been claiming it is being pumped and manipulated, but if you study the volume, it is broken up very randomly, so it could actually be more of an genuine growth than some people realize. PPC may actually be nearing escape velocity. From a micro-transaction standpoint, PPC is still valuable over $3/USDâŚpossibly as high as $30/USD to be comparable with the transaction fees of Braintree https://www.braintreepayments.com/
Now itâs official: PPC has reached a new all-time-high at 0.043![sup]1[/sup]
Obviously, now many people are taking profits and so the price has decreased a little bit. Thatâs completely normal. The important thing is that the resistance at 0.0035 was broken.
I think it will stabilize now at 0.0025-0.003 and then go up again, when the conditions (new client etc.) are there.
[sup]1[/sup]Last ârealâ ATH was 0.0035 and about 0.50 USD. I am not counting the mini-bubble at the start of PPC at BTC-E which drove price above 0.01 there, because it was only for a very short period and not reflected at the other exchanges.
I think the green line goes up too fast. We had a little correction now, but I think price must stabilize (I think about 0.003 BTC / 0,40 USD) before a new price spike.
What surprises me is the insanely high bid sum at BTC-E (Total: 12315.82 BTC). I donât know if this is a bug of the website, as itâs about 10 times the ânormalâ level in this rally and I donât see that sums at the order book. Is there a possibilty to view the whole order book of BTC-E?
Agreed. Price spiked so high so fast, it had to come down. - But, it is starting to look more reasonable now. PPC is going to go up, but itâs not going to go up 15% per day, every day!
Right now I think we are starting to get to âpanic/capitulationâ you can tell by monitoring the troll box at BTC-e
BTW: Isnât this number already past the debt limit?
âŚYou just realized how much the American people (and the world) are really getting played.
Just a bunch of actors.
2Timothy 3:12-15 âYea, and all that will live godly in Christ Jesus shall suffer persecution. But evil men and seducers shall wax worse and worse, deceiving, and being deceived. But continue thou in the things which thou hast learned and hast been assured of, knowing of whom thou hast learned them; And that from a child thou hast known the holy scriptures, which are able to make thee wise unto salvation through faith which is in Christ Jesus.â
We are now at the convergence of both an uptrend and a downtrend. Downtrend momentum seems to be petering out, volume is still healthy. Iâm going to go out on a limb here and speculate the price to either stabilize here, or go up. I donât believe the downtrend has much more steam. Also impressive is that in the last day BTC has been increasing relative to USD, and PPC is holding up. Now letâs look at the order book:
Thatâs a very short-term interpretation of this âbubble lifecycleâ graph
Perhaps this âdowntrendâ is a classic Fibonacci retracement? Iâm not very good at math âŚ
I think also PPC will stabilize now, or slightly go up. At BTC-E the ask volume is descending with a stable (although artificially inflated) bid volume, which is a good sign for bulls.
PPC could resume its rise on a more linear-uptrend. It had a strong linear up-trend until it got pumped into going exponential. It has now come down to where it should be for a more linear rise. The âdumpâ phase is now over.
After some large dumps PPC is âback to normalâ at 0.002. I think that could have been BTC âpanic buysâ after the new 4-month high at $150.
So the strong short-term uptrend is definitively broken. Now we are approaching the mid-term trendline, which is slightly ascending in USD and strongly correlated with BTC price. If the drop stops there, we can expect more slow and healthy growth.
I think this is typical speculatorâs babble Some of them may actually be PPC mid/long-term bulls wanting to increase the selling pressure to buy in cheap. Or they are holders of another altcoin. Never take seriously something said in the BTC-E trollbox âŚ
@Topic:
Seems that PPC has stabilized now in the 0.002/BTC and 0.30 US$ region. It is interesting that nearly all altcoins (LTC, NMC, FTC, NVC and PPC) have lost value in the past two days. I think many cryptocurrency speculators that moved to altcoins in Bitcoinâs recent stable phase have bought BTC now, as the 150$ mark in MtGox was broken.
I think the next PPC bull run will have to wait for the new client, the new website, more shops/services and other fundamentals. Or alternatively for the next Bitcoin bear market / stability phase.
Some of them may actually be PPC mid/long-term bulls wanting to increase the selling pressure to buy in cheap. Or they are holders of another altcoin. Never take seriously something said in the BTC-E trollbox âŚ