I guess that 10 Mil premine has been dumped.
Name: horiacretan1
Posts: 2
Activity: 2
Position: Newbie
Date Registered: January 25, 2015, 07:42:52 PM
ah yes, the typical troll.
Newbie cause my real account got hacked, but anyway, i am not the newbie here, already sold for profit, you stay and hold on trying to figure that out, while hoping for 6000 sat again.
sorry to hear that but that doesn't qualify you to post fud here. I'm sure everyone would love for that kind of price but you need to be honest with yourself. those prices had 0.00*** volumes, the last 2 days had 15 BTC + volume at lower prices, that would suggest that this is the supported price at current.
I actually think these prices are a blessing, they weed out the typical mine and dump crowd and leave the patient invested kind of people who really make up a "community". I'm happy we've avoided pumps thus far, they have taken the legitimacy out of many projects and the bagholders usually end up putting too much pressure on devs.
This project is barely 2 months in and we're already testing web based banking, that's saying a lot. It's the patient people that really make money from crypto currency and ideas.
It actually had 19 BTC volume, i watch and trade coins everyday, but that volume was caused by the selling part, so it is fair to say that 19 BTC was taken out from that market, problem is the market cap for BCR was dropped by much more than just 19 BTC.
Hence BCR is not stable and who is to say that even at this price is a fair market for BCR ?
Thanks for bringing that up, looks like we can have an enjoyable conversation after all.
I've always argued against market caps in that they never really represent actual facts on the ground. Many coins have market caps of hundreds of thousands but buy support below 2 BTC, this happens because it is calculated by the price x existing units. Consider the fact that 80% of existing supply of BCR is not even on the market, then factor in the difference betweeen the current bid vs where buy support is concentrated.
There has never been a day that actual buy support for BCR was more that 1.5 BTC, meaning that the volume is actually coins changing hands over and over again until it got that high.
Fair market price at this point is at the discretion of said market. Now, Post ICO we could influence it by using a portion of the ICO but that's manipulation and not really sustainable.
Take for example BTC with a market cap of 3 Billion. Existing units = 13 million +.
If 3 million BTC were sold over the next week, the price would plunge to 0. This is because the Market cap is just a bad measure. the strength of a currency is actually how much solid buy support is behind it , hence recent efforts by alts to shore up and set price floors.
A good metric to use in especially with cryptos is to test the limits, i'll be buying again to day so you'll see a huge jump in volume, but i want you to pay attention to the resistance points on the high and low. Remember with bittrex, most people now use bots to trade so you may see some gaming, but try to filter it out.
the area between those resistance points is the current supported price and the mean of the trades x traded units will provide a better clue as to actual market cap relative to what would actually fly on the exchange.
I always encourage buying up a coin back to ensure it's strength and push the price up, that is never a problem, the trick is to keep it there, i trade coins like i trade stocks, so if i look to average down or stabilize the price, you would have to practice what is called "stair stepping".
Do not forget the stock market it's only opened 8 hours a day 5 days a week, and sometimes less.
But in crypto world, is 24/7, so problem with pumps is that, the pump quickly becomes a dump, not intentional but because the buying dries up and the bid becomes weak, or it creates a big gap between the bid and the ask price.
I always take advantage of gaps, ...so if you want a steady upward price, than close the gap between the two and slowly but gradually buy up the ask.
Like i said, this market is 24/7 so take notice that 2 days of stock market should be equal to 1/4 day of crypto world, and what i mean by that, is be patient in stair stepping, or else it will be back to that low price in less than 4 hours.
