Last fews days , days traders took profits on XC each time they could to follow the pump on others coin. But now it become too dangerous to get out of XC because it is hard to rebuy cheap (bid side is really dry and buying wall protection) and next big news are too close.
Now, day traders can only hope to rebuy 10/15 points lower but they would risk to panic buy 20/30 point higher pretty often . Doesn't seem to be EV+.
In fact i can't understand what could be the value to sell under 150/160 now, the risk rewards is really bad under these level. Even if the price was at 150 , we could only hope to rebuy to 130 and if 160 break we would have to rebuy around 170.
I keep my target around 250 end of the week/ beginning of next week.
I agree with all of this...
I have found some of the sells hard to understand when we have been rising which has made me think - I know its all conspiracy.. But I would not be surprised if some DRK holders with deep pockets have bought XC just to dump into rises... I really do believe they are scared of this coin and have tried everything they can to kill it... They have failed....This may be totally wrong but I cant help but think it... I get the impression they are running out of ammo and that the next rise / or rises are going to be 100% plus type jobs...
i don't know if some kind of conspiracy exist but it's true that i have seen a lot of irrational trade last few days (as the dump of 60k xc at 140 the 17 june followed by a panic sold of 20kxc to 111,5, or 20k xc sold few hours after to 120...). These trade was very weird, can't buy so much volume lower,not a lot of profit, no reasons at all to dump, we had only good news last 2 weeks.
I think altcoin market is very irrational and ridiculous, traders don't care about the fondamental valu, it's all about the pump momentum going on. they don't want to stay invested into something because they don't want to miss the next pump opportunity and they don't want to take the risk to be stuck into a sinking ship.
Altcoins traders don't trust the coins, they just use it to make quick profit and get out as soon as possible because they fear the dump.
Basically they pump a coin all together (sudden high volume trade) often without real reason (crypt), then everybody want a part of the cake and panic sell their own position with bad trade (as we have seen last days on XC) to come into the next big pump thinking they will win money to come back after. In reality only fews traders win big, others buy just before the dump to pay the profit of first pumpers
XC will create the surprise because it will get pump, but higher and faster than what people could expect, and price will stay quite high and stable after the pump.
i think litecoin is dying slowly now, his marketcap will be redistribute to the best altoin remaining (xc is one of them for sure). Last bitcoin bubble we have seen litecoin pump from 1$ to 45$ in 3 weeks, imagine what could arrive to XC with 5 times less coins produced and better technology.
XC over 50$/coin before the end of 2014 isn't a dream.
For altcoins trader 6month is an eternity, for smart money it's nothing. Actually we haven't a lot of smart money in altcoin market wich explain the low valu of XC.
