Historically with Blackcoin the pumps have always exploded when the trading activity dips to 400 BTC. This happened at 4800 and 9500.
The sellers are running out of coins to sell. So long as no-one does anything stupid like panic selling at a loss we are golden. Sit tight, people selling now will be upset when we go on our next rise.
plus, they are almost done with cashing out on the CINNI and WC victims, volume keeps going down there. The sellers are running out of coins to sell. So long as no-one does anything stupid like panic selling at a loss we are golden. Sit tight, people selling now will be upset when we go on our next rise.
Additionally a lot of whales cashed out in the 40k to 50k range. As soon as the price stablises for 24 hours and starts to rise they will all pile back in.
Not really... all of you blame whales. Its not whales its you guys panicing. There was about 7 who dumped. I know because I saw how many positions I moved and watch the other wallets. I guarantee the price decline was mostly from mid-range sells and panicing.
The recent fall has been caused by a handful of people persistently dumping. In the 30's every couple of hours there was a 50BTC dump all at once like clockwork. In the 40's it was even more obvious and I posted about it back then.
Of course people are sheep and follow when they see the price moving down.
Lots of people are suddenly hundreds of BTC richer than they were 1 month ago. All those people are taking profits. 15000 BTC (15 thousand BTC) worth of Blackcoin was bought in the 45k to 90k range. That's a big chunk of the total amount of coins. So long as those people don't sell at a loss in blind panic, the selling will stabilise.
Someone/some people are waiting until the price creeps slowly back up to around 30k and then load(s) off until 24~25, repeat. It's painful to watch, but there's not infinte coins so it will stop sooner or later.
The ones who buy now between 25-30 will ofc repeat the same crap 10k higher if nothing unforeseen happens.
Doubt there are too many left who would be willing to sell lower than we are right now though.
