Last 10 mins volume was 2.14 BTC on Mintpal..what exactly is "brooding"?
My take on things is that the market is being carefully manipulated by a group of `whales` attempting to engineer another pump. Since their last pump was successful they are going to try an even bigger one this time.
Every time the price goes up to around 210k they put in a strategic group of sell orders which make people think prices are dropping and cause mini panics/ mini dumps, at the same time as putting in sell orders BELOW market price to force down the price they also put up big sell walls at higher prices to force prices down even more.
They have been doing this over and over, I have been reading the transaction history on Mintpal and this is happening clear as day.
The poster Mikemikemike said this is just natural trading activity, I think he is probably in on it. Mike mentioned the wedge curve trading pattern, I am willing to bet this pump group are taking advantage of this price discovery/ wedge curve by putting in these manipulative orders at the right price points to keep the wedge/ pendulum swinging as long as possible. Without this manipulation the price would have naturally gone up a couple of days ago.
This is a carefully manipulated plan taking place over the last few days. Mike said to Google the wedge curve to know what is coming. If you look at the results you will see a graph with a wedge curve which is followed by a price rise almost as high as the last peak and this could be the kind of result without manipulation.
If this is going as I think it will be then expect a pump bigger than anything seen before up as high as 700-1000k. Since the pump group are going to be spending coins to keep the pump going and are all expert traders they will also have a good idea of when to dump so there will be a sudden price crash at a certain point along this route. They likely have at least 500k of coins between them to pull off an operation like this.
Another benefit of manipulating the wedge curve is that every time the price drops back to 160-170k they can slowly buy back more coins at under half the price they sold during the top of the peak. They do this slowly as it also helps prevent another early rally.
Every time they manipulate the price back down using the wedge curve it builds more and more buying pressure on the rally back up to the top of the curve. Since this has been going on for a few days now they are burning through some of their XC holdings to get this done then I expect probably spend another 20% of their holdings on the next major pump which will be bigger than the last one.
But if they are successful and can get the price up to 800-900k then back to 200k they are looking at a four fold increase in their XC holdings. They also sell a few more coins to push the bottom down lower after the crash so they can buy back even cheaper at the bottom.
Some unknowing XC investors will panic with the price this low and sell all their coins. If 30% of these panic buy on the next pump then that is at least 100-200k more buying pressure to help the pump get even higher alongside all the people panic buying just to catch the wave.
The pump will probably come after the wallet V2 is released. The pump group will hate me for writing this post but they will still go ahead with their plan as they know most people trading on Mintpal will be just as easy to manipulate as they ever were.
Now lets see if I get fudded by some traders on this thread for revealing the big plan. In fact I am not a trader but this manipulation is pretty obvious.
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