Serious setbacks and dumps are not happening.
There is too much buying pressure.
There is too much buying pressure.
I remember when bitcoin rallied from 10'sh usd to 265.
Did not buy in the rally (unfortunately). However, I have pretty similar gut feeling of Monero - it has not done it yet. Too much buyers and now finally things has started to happen so selling now when things has rocking and rolling only 1 week feels pretty stupid.
I wonder who are these sellers...? How they make their decisions to sell? Probably they are just very desperate for cold cash (tax liabilities to pay?).
A lot of big (and smart) XMR holders are likely to have selling plans.
This means that they'll sell a certain percentage of their coins at a fixed price level.
Doing this eliminates emotional errors and risk.
Lots of these probably are hitting their selling targets now and sell.
I certainly did.
Those who sold sub 0.01 are complaining about selling too early.. So the selling plan will not work always in an optimal way. I bet many who sell now will regret if the price hits 100 usd/xmr.
On the other hand, the people holding only smaller amounts of coins will make the big guys even bigger in terms of size of the Monero pie. Those who sell will become poorer in Monero economy.
If I sold what shall I do with the fiat? Perhaps buy some Realty Income shares? Nah, only 4-5 % pa dividend yield. Buying gold? Probably not in large extent because Monero is better (although it doesn't glitter). Appartments? Probably... But again, I can do it also with the banker with 100 % financed so no money needed...
