thanks Catkiwi ,are you a professiionnal trader ?
if so can you make some technical analyse sometime, its always interresting to see how its going behind number (perhaps with graph) ?
Not a professional, but it is how I make my Bitcoin. Since October 2013.
I will tell you this - Expect to see some sell walls out of now which appear maybe once or twice per hour - these are attempts to induce holders to dump coins into the sell wall owners buy orders. The coin is going to test 0.03 in the next 24 hours. Not because of any amazing dev work, or community efforts, but because there is a tidy profit to be made in buying a coin cheaply (as it is now) and pumping it up 50% - It's just a fact. If you are a small fish, like myself, you will be wise to buy back in now. Ideally you bought back in when it was around 186,500 and there were some tasty sells on offer, but it is not too late.
The way the manipulators in charge of this particular coin's price direction seem to function is very much based on the performance of Blackcoin and Darkcoin and interestingly Bitcoin itself. You can get an indicator of where XC is going to go based on the rise or fall of those three coins. We discussed a few weeks ago how it is generally the same Bitcoin being moved about various coins, one goes up - the whales cash out - then they start slowly buying up their next target before they place a mammoth 100+ BTC buy wall and let others pump it up for them.
The only way to be a successful small trader is to anticipate their next pump, and it is not as hard as people make out. Look for seemingly random, medium sized buy orders ABOVE the market price spread about 2 or 3 hours apart over the space of 24 hours or more. E.g. the last sell price is 190,000 - someone buys 10 BTC up to 193,000 before the price drops back down to 190.000 again.
You may think to yourself "Huh, some fool just paid more than they needed to!" - but in reality they are the smart ones. You see they KNOW the target of the next pump, it is always a coordinated effort between the whales to ensure maximum profit among themselves - its bad for business to be fighting each other - they may give the appearance that they are fighting each other but really they are just trying to get you to move in one way or another.
If you see this sort of order over the space of 24 hours, take all of them and look at the highest price they bought at for each order - average it - then add on 50% to that (the observed amount a coin seems to pump before the dumping occurs - it is the point where two forces meet - the buyer feels confident that the coin has risen to much to crash and must be a sign its about to "go to the moon" - the seller feels confident that a 50% profit is worth selling 100% of their stash.). Now back track 10%. Between 40 and 50% the whales have quietly been dumping their coins on the buyers who buy without any regard to common sense - they are blinded by greed and will munch through thousands of dollars worth of coins in seconds. By the time the price rises 50% the whales have all but removed themselves from the market and the little fish begin to take their profit. This tips the balance and the coin starts to go down. Without the whales to pump the buys up with massive walls the ordinary buyer gets scared and removes their buy order completely - it happens very suddenly but it causes a 20-25% fall in price within 60 seconds more often than not. Then people foolishly think its just a correction and starting buying again - this slows the descent but doesnt change the downward trend - the coin MUST go back to around the level it was when the whales first started buying with an additional 10% added on. One of the side effects of a pump is that the resulting stable price is usually around 10% higher than the previous.
There are what I would call "Super Pumps" whereby the target is set 2 to 500% above the current price - We saw this with Pandacoin, Karmacoin, Blackcoin, Dogecoin, XC, DRK etc. - You generally will only get one shot at this as it relies on a very low marketcap - once a coins starts to get into the 10s of millions of dollars it becomes far harder to pump up 500% - but the sweetspot is aorund $150-500,000.
Rest assured however, a super pump is followed by a super dump as seen in every single coin that has ever been pumped up - even Bitcoin and Litecoin themselves.
Ultimately just watch the market - thats my advice to you - and I don't mean watch the price - i mean watch the behaviour, what KIND of buys and sells are we seeing? What is the volume and price of each order? what space are they apart? what timezone do they most correlate to? what coin experienced a sell order of similar quantity to the buy order just observed? for example.
Have fun!
Thank you for taking your time to share your expertise, most people seem to just reached puberty. How do you think xc will stand against all other "anon" coins poppin up? Wont that influence as well (not just whales)?
Hope people get inspired by you and we all can share our knowledge and reach a fair balance, dont wanna see the cryptoworld be inspired by wall street haha
