The EMC2 dump continues, part 3 is currently in effect at Mintpal
This low price is ridiculous!
Thanks for the cheap coins though to whoever is trying to manipulate this coin.
A dip starts up goes down then returns back up in a relatively short time period, as the overall EMC2 position was descending it took two sharp dips; sharp dips shock the system, if many dips occur the system must adapt to survive.
At some point $400+ EMC2 is no longer "cheap" or low price, phase 3 of dump EMC2 is causing that to occur, the overall EMC2 market is beginning to 'normalize' around the $400+ market, if you've seen it all week the bargain becomes the $300+ coin and the high-to-shoot-for becomes $550.
Tomorrow's magic memo must yield >$880 EMC2 and greater daily market engagement, or else the manipulations will abound and the position will likely experience more uncharted depths and less long-term holders.
Zoom: All
TF:4H
SMA:50
I only see the coin getting stronger. What you call dumps are not dumps.
Look at the volume, nothing there to show a dump. The price has been steadily rising from what I see from day 1. This coin was not built for short term success and then massive fail like all the others. There is long term goals in play here, non profit organization is here to stay and so is EMC2.
On a personal note, I expect a steep increase in price within the coming days. Lets just say "I have a feeling"
Firstly, Polonex doesn't have enough EMC2 volume to be a relevant statistical resource for the position. 2ndly, none of the targeted dumps occurred there. It was likely not a dump site because the dumper knew it would be a poor venue for rapidly liquidation.
Dump #1 occurred at Mintpal
Dump #2 occurred at Cryptsy in two parts
and
Dump #3 started at Mintpal Monday morning at 8:30am EST , and continues.
The goal of a dump is to extract "cash" (in the world of CC that would be BTC) as quickly as possible, a dump is liquidation.
Dumps occur by add in too much supply or removing too much cash from a position or system. You know it's too much when the existing market rates fail to support it resulting in a substantially lower rate where it can be supported.
At the start of the 1st dump the overall market rate for EMC2 was $650 on avg, the dump resulted in a low of $470 for the coin.
at the start of the 2nd dump the mkt avg for EMC2 was $550, the result of that dump was a low of $390, and
at the start of the 3rd dump the mkt avg for EMC2 was $500 -- the low was headed to $275, but low volume and arbitrage efforts mitigated damage.
Dump 3 is still occurring, if the dumpster didn't achieve his, her, or their liquidation goal by the time of memo release the coin is in deeeeep trouble.
3 dumps in a tight span of time over multiple platforms is a sharp indication of concerted effort,
Anyone who does due diligence in the examination or review of EMC2 will not only see but strongly consider the three recent value plunges, my guess is if they believe the cause is valid but the coin is fickle they will opt to limit their participation of a direct donation to the foundation leaving the coin alone. The run up to any important announcement should be filled with pomp and glory -- good numbers, not lagging, sagging, or plunging numbers; performance often outweighs promise.
If someone wants to give to a charity they give, they don't buy BTC with their fiat at one exchange, transfer the BTC to another exchange, trade the BTC for EMC2, then watch its value evaporate. The cryptocurrency markets can be used for fund raising, rest assured when the fund raising turns to fund lowering, funding will be lost.
