Might be good for someone to compare XMR price development over the two days to other altcoins. Might well be that the effect of FUD is not even existent...
Quick scan: Over that period the range of LTC was 2.5%, XMR 13.6%, BBR 27.4%, XCN 34.5%, and all are within 10% of the range closest to their lows over the period.
What I see is that PoW non-app coins (pure currencies) generally, whether CN or BTC based, have declined in degree best indicated by their market cap.
My intuition: There is no FUD effect. It is pure imagination. The price is down because bitcoin.
My conjecture is that hot money is flowing out of bitcoin into US stocks (BABA) and GBP bets. This is ADHD money we're talking about. I give it a week or so, before btc bottoms. Unless there is an exogenous jump it would be reasonable to expect continuing XMR\BTC decay. Yet I am unwilling to sell for a turn-around, simply because the scale and likelihood of a positive shock is too large. The market cap is too small. One buyer can double the price forever in 20 seconds or less. I can't risk that.
I'm not above trading BTC comparably aggressive (after all, some of those profits then go into anon coins like XMR), but agreed on what you write here: Unless you trade rather small amounts (and can get in and out without slippage, and are nimble enough to jump back in on short notice), it makes little sense to trade the current swings that are largely secondary effects to XMR's older brother Bitcoin. Small correction maybe: It does make sense if you aren't attached to your XMR position, as in: if you're skimming off profits in USD only. If your goal is increasing an already non-trivial XMR stash, I find it hard to believe this can be achieved by swing trading, given the current market conditions.
i have swing traded xmr and i have lowered my avg btc/xmr buy in by swing trading, approx 20% more xmr, my first buy was month ago at 0.0037 and then 0.003, then i sold at 0.005-0.004 and then bought 0.0037-0.004, then sold again 0.004 and bought 0.0038-0.004, TA has been triangle and 6h ma20
convincing them that there is place for a second major currency is hard. first because the person probably thinks it shoots its own leg, second because there needs to be an incentive for him. that said I think there are people who see besides their own profit, moral reasons to invest in a project like this.
