Topic: Nasty Sell Walls are killing the free cryptomarket - page 2. (Read 289 times)
But what can we do? It's a free market and everyone has some dirty tricks up their sleeves. As fraudulent as it can be, we can't do anything to stop it. I also been suspecting that bots are really triggering this some kind of "pulling" of the price of most crypto, specially bitcoin. See how it's been struggling to even touch $4k? and now that we touch it, no movement what so ever, maybe they are waiting for something like to go to $4200 before triggering their bots again.
It's happening more often than usual lately.
A few days after a coin shows exceptional growth, it's being taken over by groups who use bots to throw up massive sell walls.
These sell walls are different than before.
Until lately, a sell wall would look like one or 2 massive amounts of sell orders you "can't pass".
The new form is less visible for the untrained eye.
As soon as medium to big buy orders are placed, there are numerous midsize sell orders placed to counteract any possible growth.
Good examples of this week are Enjin (ENJ), which started to show these traits last week.
From yesterday Stellar (XLM) got the same treatment. Thou shall not pass.
The only thing these groups (of whales and bots) want, is to make it impossible for anyone holding the coin to sell it for more than their set pricelimit.
This way, people who hold the coin, will either hold, or (in most cases), sell it for a way lower price than it's currently worth, to "get out".
The group throwing up the wall immediately buys up that dumped coin, adding it to the wall, increasing the main problem even more.
Only way to break through this problem, is to get a few big whale HODLERS in, but especially :
DON'T UNDERSELL YOUR COIN, just hold, cause when the wall resolves, prices jump massively. Just hold!
This practice in its new form is seriously hurting progress of prices for everyone.
It looks outright ugly.
A few days after a coin shows exceptional growth, it's being taken over by groups who use bots to throw up massive sell walls.
These sell walls are different than before.
Until lately, a sell wall would look like one or 2 massive amounts of sell orders you "can't pass".
The new form is less visible for the untrained eye.
As soon as medium to big buy orders are placed, there are numerous midsize sell orders placed to counteract any possible growth.
Good examples of this week are Enjin (ENJ), which started to show these traits last week.
From yesterday Stellar (XLM) got the same treatment. Thou shall not pass.
The only thing these groups (of whales and bots) want, is to make it impossible for anyone holding the coin to sell it for more than their set pricelimit.
This way, people who hold the coin, will either hold, or (in most cases), sell it for a way lower price than it's currently worth, to "get out".
The group throwing up the wall immediately buys up that dumped coin, adding it to the wall, increasing the main problem even more.
Only way to break through this problem, is to get a few big whale HODLERS in, but especially :
DON'T UNDERSELL YOUR COIN, just hold, cause when the wall resolves, prices jump massively. Just hold!
This practice in its new form is seriously hurting progress of prices for everyone.
It looks outright ugly.
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