Reminder that the twitter whales bought in at 500 satoshi and can dump on you whenever they want
No they didn't, the price flatlined at 500 but with such low volume, a 1 BTC order pushed it over 600 sat
The price was at ~500 for 3 days with 30+ 24/h BTC volume
They aren't going to pump a coin that they didn't already buy in at the low
The daily 24 hour volume was actually 11 BTC when it was at 500.
I'm positive it was higher than 11 BTC and it has been in 500-650 for more than three days which would be atleast $24 000
It was at 11 BTC a few hours before it started getting pumped.
Please peddle your crackpot theories elsewhere. We get it, you sold your blackcoins and now you want the price to fall.
Since you guys are sadly clueless as to how pumps and in general markets work (I bet you have been holding you coins since day one) I will try to teach you something
Each black line represents one day and let's pretend 11BTC volume that you are saying, even though I know it was atleast 30 for 2 of those days.
In total that is a, according to you at least, 55 BTC volume over the 5 days it was trading at an average of 530~ satoshi.
Even if a whale had bought half of that, that is 27~ BTC or about 5 000 000 black coin.
He is then free to dump that whenever he wants to bit by bit, and also have near complete control over the market because he can force panic sells/buys whenever he puts up buy or sell walls.
No, I'm not saying the pump is over. He has obviously sold some though because he is nearing 200% profit. I'm saying it is risky to buy in now because you have no idea what his/the group of whales' target is.
But of course the whole idea of a pump and dump or manipulating market is just a crackpot theory and NEVER happens, especially in crypto markets (LOL
)
BTW, yes I did sell my black coin because I am not an idiot and have at least some clue how markets work.
BTW, I also have been buying back at a decent price because I am not an idiot and have at least some clue how markets work.
TL;DR
You should educate yourself before you try to play with these big boys
You make some good points !
I would also like your feedback on my counter points
1) 27 btc is not really that much. any large volume is going to run that whale out of coins fairly quickly. the whale will make 200-300% but if they sell too quick they may miss the bigger run being triggered by more people being introduced into the coin by the whales
2) on any other coin that is actively mined I would have dumped by now, but the 1% coin inflation by stake only is going to keep the supply low
3)75 million overall coins is tiny !
4) a whale identifying good potential coins for a pump is not a bad thing, this coin has quite a lot going for it when the only game in town is popularity. It would take very little popularity for this coint to push 1000%
