Why ppc price down so much?

I dont know who is dumping, but I just wanna say thank you to them because they just gave me a great opportunity. Just bought another 6000PPC at 0.00153BTC at BTC-E. What a price!!!

Wow, I wish I had that much more to spend. At these prices though, I’m thinking maybe I should buy some more. Once NuBits and v0.5 roll around, I don’t think we’ll be seeing these prices again.

If only I had sold earlier this year, I could buy a lot more PPC now. Oh well.

there’s been 500k ~ 1mil dump + since 0.003, people are going to run out of peercoin to dump. Unlike LTC, BTC, FTC, there the rate of peercoin production is much lower now.

Because LTC/BTC is going down.

jubalix: what do you mean “since 0.03”

Yeah, seems to be quite a few people dumping coins on the exchanges. Tempted to convert some BTC on the cheaper exchanges into PPC and exchange as much as I can.

https://www.reddit.com/r/Bitcoin/comments/2d3h8d/remember_everyday_the_price_stays_the_same/

sorry my mistake 0.003

Which exchanges would that be?

I’ve been looking into cryptsy lately, but volume is under 5 btc most days.

Which exchanges would that be?

I’ve been looking into cryptsy lately, but volume is under 5 btc most days.[/quote]

largest volume by far and away is btc-e.com

largest volume by far and away is btc-e.com

I am familiar with that. Though I don’t really appreciate, that nearly all trading happens at btc-e.

Some sort of diversity would be nice :slight_smile:

i think it is the only xchange permitting ppc/usd. in that case diversity is out of the question ;D
i just wonder if btc-e is a russian site how they continue their business since russia is against crypto coins in general!

btc-e is bulgarian with anonymous owners that are supposed to hide in cyprus.

that said, … bulgaria is the most corrupted country in europe. maybe greece passed by lately, but in general btc-e is not trustworthy in this light.

[quote=“seki, post:13, topic:2773”]i think it is the only xchange permitting ppc/usd. in that case diversity is out of the question ;D
i just wonder if btc-e is a russian site how they continue their business since russia is against crypto coins in general![/quote]

BTC-E offering PPC/USD is a direct result of them having 95% of all PPC/BTC volume.

Other exchanges may not feel the need to add this pair, because their PPC/BTC pairs aren’t generating any kind of healthy volume. Why would a USD pair behave otherwise?

I would really like to see kraken.com add PPC, but I was told, that they don’t think about adding a PPC pair in the near future.

another 25K dump to 0.0014

OK, I will buy more when it closes to 0.001btc

I’ve did an analysis of the price where I suggested that: “Momentum players should shy away (descending triangle on low volumes both in terms of usd and btc).” http://www.reddit.com/r/PeercoinMarkets/comments/2avc66/140716_popularity_trends/

I also think that: “Nothing says that price must go down further from here, but IF price goes down it could go down a lot.” http://www.reddit.com/r/PeercoinMarkets/comments/2blh0y/140606_broken_support_analysis/

The fundamentals for Peercoin has improved and also the community seems to be undeterred by the collapse in price. I also speculate that the price will go up, when btc break out and make new highs and the greedy and new-rich start to diversify: http://www.reddit.com/r/PeercoinMarkets/comments/2c819x/140731_1_what_the_h3ll_is_happening/

There is also BlackSwan kind of events, like NuBits, Bitcoin 51% attack or something else which could both push the price higher and lower depending on market reaction.

I would also like to add that the major benefits I see that Peercoin has, has yet to be realized by the crypto community, such as that the because Bitcoin is still being subsidized by the mining reward. Peercoin, I think, is a “value play” with a long-term horizon.

Just my 5 cents.

I think it has a lot to do with the movement of Litecoin. When litecoin gets dumped on BTC-E a corresponding dump of the other altcoins appears. I have noticed it in the past where a few minutes after a major dump traders sell vast shares of NMC PPC or whatever to follow the trend.

I think these Peercoin traders will get burned eventually. Litecoin has been going through a large inflation period where miners are selling to cover costs. Peercoin has a much lower inflation rate so it does not make sense to follow Litecoin.

Oh! Very interesting. I didn’t know this.