A coin shows it is healthy by a steady increase in value so you are saying that the price should be between 800-1000 still.. which is the price it was a month ago? So you are saying that potcoin hasn't raised in value at all? Either way it's not looking good.
Price is only one part of the equation of a healthy coin... infrastructure, network hash-rate, and price must all be looked at. POT should be priced right now at about 2000 or abit less. But with the artificial price pump, brought increased difficulty from short-term profit miners who took notice of POT for the first time when combined with listing on Cryptsy and the subsequent Coinwarz listing, POT became exposed to heavy selling pressure from short-term miners and multi-pools, so POT has to absorb that pressure before it can reverse its pricing.
To me the difficulty decline is the best indicator that POT is recovering. The short-term miners are leaving and the multi-pools are not very interested because of the low profit margin, so this will put most of the mined coins back into the hands of the long-term miners, like myself, and with time the surplus will balance with demand and price will rise again. But I expect the price to drop to 800 and the difficulty to collapse below 10 before the recovery starts. So another week or so.
POT is a victim of price and market manipulation and is suffering from inorganic valuation. Pretty simple and basic fundamentals.
So, foreseeing the price decline and recognizing the pump, did you sell into the strength ? Only curious because I have yarded up on this coin in the hope it has excellent long term potential...
If you overlay a difficulty chart and price chart, you will see organic and natural price and difficulty increases up to about 2000, then suddenly the price started to run away from the difficulty. So yes, I sold about 200,000 POT above 3000 and made a very nice profit. I have yet to buy back in, as I had a pretty good idea that with the big a pump on the upside, of about 1000(over the natural price of 2000), that POT would have to sink to about 1000(1000 below the natural price of 2000), so equal rise and fall. And with the new pressure of the Cryptsy/Coinwarz listing, i expect POT to needs to drop to around 800 to shake off the effects of the pump.
I had no interest in selling any POT at any price until I saw the pump happening, just as I have to sell any of the DOPE I have mined. I will not sell a coin when I can see it is enjoying natural and organic increases in value, but if there is going to be a pump, I am taking the profit.
Any time the price of a commodity is manipulated... pumping, block reward reduction, algo changing, etc... any gains are only short-term at best, with the long-term effects usually doing more harm than good. For a few real life examples, look at the Australian wool stockpile and current Chinese cotton stockpile.
I am still a very long-term holder of POT, I believe POT and DOPE have the best potential of any of the new alt-coins(released in 2014) to become real and usable currencies. And for the record, I believe that DOPE and POT are much more complimentary than competitive.
