BitShares - why has it dropped like a rock - page 4.

erre

legendary

Activity: 1680

Merit: 1205

Quote from: stealth923 on October 17, 2015, 01:59:02 AM

Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?

Is it just the hype of the release then everone sold or is there something more sinister at play?

Thanks.

I think that's about they fussing about graphene and hyperbolic speed for bitshares 2.0, that was simply not true.

r0ach

legendary

Activity: 1260

Merit: 1000

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase volume, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all.

stealth923

legendary

Activity: 1036

Merit: 1000

Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?

Is it just the hype of the release then everone sold or is there something more sinister at play?

Thanks.

Topic: BitShares - why has it dropped like a rock - page 4. (Read 3376 times)