I realize the next part of my post is controversial but please consider it:
We need to Promote volume Not price. Being in the top few in volume will attract new money. With BC's limited supply, new money will get us a gradual rise.
Think of it this way. New crypto investors are looking for low prices. When we hype price there are fewer and fewer new crypto investors for BC!
Volume allows for a good trading market. Traders need volume. Traders bring in new money at WHATEVER price.
Now this is the part that if this community embraces will take BC to BTC parity. OK ready?
We need to thwart the pump.
Lets take a stand:
Please do this, plan to sell a specific portion of your holdings at each swing high / new high. I suggest 1 to 5% at swing highs and 10% at new highs. Then, buy back MORE at each swing low.
Please, look at a chart for a previous meaningful swing high (maybe 10 to 20% higher than the current price) and enter your sell orders now! After you get a fill enter your buy order. Of course if you want to commit new money now (4/16 3pm EST) I suggest 10k - you may never get a fill but you might.
If we do this as a community and are disciplined about it we provide volume to the market AND tamp down each trading range. Every time a trading range collapses into a new equilibrium the pool buying will push us into a new higher trading range.
If we do this a community you will own the first alt coin to reach BTC parity.
I ask: Will we be the first community in crypto to GTFU and self-determine the future of our coin?
++ 1000This is exactly what I did on the last wild ride, although my timing needs refining !
I sold a small percentage at 60k SAT for a very specific reason : recover my original stake and pay off a small personal loan.
Before going to bed while BC was still at its dizzying heights, I thought "What the hell, why not place some buy orders at 65k SAT. It'll not drop back there for long, if at all. If it does and rebounds I'll take a small profit."
Woke up to find that we'd dropped below that point ( and someone here thanked me for leaving those buy orders while the freefall was in play ).
I've learned an interesting lesson, and need, as I say, to refine my timing. But in essense I couldn't agree more with the original point.
We need to try to get out of the mindset of instant huge gains, if we're to reap longer term greater benefits.
When we pass through 100k SAT I will sell another small percentage, for another very specific reason, plus an additional amount. I will cash out the amount that I need, and keep that additional amount in play, to buy in the next dip.
Take small bites. Return a little as grease. Start out with a plan. Stick to the plan. Little and often.