I’ve seen this before in the charts… The price starts sliding down, and then we get a massive rise and volume as a whale buys up.
I suspect what’s happening is he deliberately sells 10% of his coins to push the price downward.
He waits for weak hands to sell too…
He then buys back not only his 10% but another 20% of what everyone else just sold…
Furthering his position at 30% with dollar cost averaging making the buy cheap.
Are any of you watching this take place? I don’t look at candles. I look at price and long term trends. I’m not a trained trader. Maybe that’s why I keep seeing this occur… I’m spotting patterns that aren’t found in financial books.
…but in my opinion, its going to rise again, and volume is coming with it. I just wanted to make this post on April 18, 2017 with Peercoin at 81.9 cents to see if I am right in the next week or two…
Hitting 0.89 doesn’t mean you’re right. That’s well within our weekly beta at this point, it doesn’t mean anything. The price on the ticker usually doesn’t mean much with our thin order books, although right now there’s a good amount of sells on the books. Yesterday there was an unusual amount of buys on the books. Don’t read too much into it.
Well in the last 7 days, we went down to 76.3 on April 21, back to 89 cents again today.
I gotta tell you, when we were down to 76.3 cents, I wasn’t positive I was right, but I just kept having faith that I was… and sure enough we hit my prediction.
(and in exactly 7 days).
I know there are 14 other possible reasons for this, every thing about what the charts were showing, to the fact that we had a Pink Moon this month. —what ever--
Prices are fun to watch… but as long as you are accumulating more peercoin, and minting new coins with your stake… and going long term, you should be safe.
Daily prices to me, rarely matter. I’m in this for the long haul.
Gotta admit, impeccable prediction. To be fair, it did spike to 89 cents on the 23rd. Still, that we dipped for three days after your post, then we are plateauing at 89 cents a week later is pretty on point.
The volume came too. We’re at $1.13 at this precise second… April 26/2017
…but in my opinion, its going to rise again, and volume is coming with it. I just wanted to make this post on April 18, 2017 with Peercoin at 81.9 cents to see if I am right in the next week or two…
