Why the sck price increase - I think it whale pumping there wasn't any breaking news in the last 2 days
big money people usually have ways of getting the news before it breaks
but I think this is a lot from the technical analysis guys, the breakout from flag pattern was classic
also all the btsx profits had to go somewhere.
I did happen to answer some questions in the NXT forum's most active thread about BTCD, got comments like "mind blown", that's good I think.
I see 100 BTC of BTCD purchased over 24 hours on bittrex and probably similar amount of cryptsy. Oh, I was in the chat complaining about my missing withdrawal and people asked me some questions, maybe they liked what they heard?
So the question of whether this was a pump or accumulation will be answered in the next few days. If we see 200+ BTC of sell orders, then it was whale pumping for dumping. My prediction is that we go to the usual lower volume consolidation phase as people get used to the new price point. Maybe it takes two weeks and another flag pattern, nobody knows.
since the peak at .007 to .0072, there has been 5 BTC of sales on bittrex and twice that on cryptsy. so volume is dropping. People tend to concentrate too much on price. What good is 1 BTCD available at .006? there's only 2 BTC available under .00666
anyway the price cant be going up 40% per day, a pullback is natural and needed. I just am skeptical there will be big volumes during the pullback. My theory is that the new money has made a bet on BTCD at the current price level and I doubt they will be selling before they are making some money. If you look at the volume during the current price spike, you will see very little volume before it hit .006, this is because there just wasnt much BTCD available below that. Once we broke .006 (clearly all time high and breakout from flag pattern), the big volumes came in between .006 and .007
My guess is they are either longer term hodlers or requiring some decent gains to exit, so probably waiting for teleport release and price of .01 to lock in some profits and then be able to ride the BTCD without much net capital in it.
but of course, your analysis might be the correct one, I am just guessing
James