Who keeps selling the dgb bellow 50 or below 60?
Not that im complaining.
Was just wondering.
Is it only miners ?
I suspect that would be the 'unknowns' that have a vested interest in making DGB look less favorable than bitcoin. Keep poking them until they relinquish their mother load!
I'm still trying to wrap my head around this psyche myself... To me it seems the only person who loses out is them (the unknowns) for absolutely no benefit to anyone...
Scenario... Trader holding BTC and DGB wants to keep DGB down so he posts a sell at below 50... People buy his sell and eventually he has no more left... Price of DGB goes back up and he's lost money.. How does this benefit him? The price of his BTC has not been affected in any meaningful way, and essentially the seller has just lost money for no reason... Could someone educate me as to what part of the picture my thick skull isn't getting here?
I was under the impression it's far less sinister than that... DGB is still young and it's just not on peoples radar yet. Demand is low, and volatility the same, hence it's not enticing to day traders either at the moment. My guess is alot of them were hoping for a quick pump and dump, and now they're bored, so they're dropping their holdings at the minimum price to get out and trade something else. Either way I quite like the stability of DGB, shows promise for the long term success of the coin IMO
Sure it's all of these things.
Some people may want to move on or need to realize some cash for something and therefore sell some of their stash.
Some people want to push price down, in the hope that they can buy more back cheaper before DigiByte takes off.
Some people want to make sure that any alt coin does not become more profitable than bitcoin because that draws attention to it and increases the support for it which ultimately detracts from bitcoin by taking some of its market share.
The truth is, manipulating most alt coins is achievable by many but only a few relatively can do this with BTC because it is already so big. many of these people see alt coins as a threat to BTC in it's infancy and will deliberately manipulate the markets because they can.
There is no fast profit to be made in any crypto market at the moment and some organizations are barley covering their costs and would fold tomorrow without outside fiat investment this will remain true until mainstream adoption, which at the moment looks like everyone will be using bitcoin and other blockchain technology associated with it without realizing anything in the realms of money has changed.
Bitcoin has been highjacked and is no longer a movement for the people by the people and I imagine it will be impossible to stop this happening to DigiByte or any other alt too, when things really start picking up but it is the people who start the ball rolling and this technology that allows all of us to go and play somewhere else if we feel we are not getting a fair crack. It is also this technology that will make the world a more honest place to live as it becomes increasingly more difficult to be dishonest and get away with it! For now, we still have a very long way to go.
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