If I didn't know better I would think coins are appearing from nowhere.
8600/day or so?
I'm aware how many are being created a day, I don't see your point with that comment. The consistent down pressure seems far higher long term than the emission and even if it was equal to the emission then I find it hard to believe all new coins are dumped. Every single time there is a breakout there is a dump, I just cannot figure out why anyone would want to intentionally suppress the price like that (especially if they have the coins to do it: it flies in the face of self interest) and I think it's fanciful to believe it's some other coins troll.
I cannot come to terms with somoneone/somegroup acquiring over time just for price suppression and I cannot think Of any logical reason except to slowly siphon from the cap unless they hold massive hoard which by now should have been absorbed. Unless you have a different theory?
BTW, I bolded the qualifier for you.
Yup, I was just thinking the very same thing these last few days. Whenever the market goes up even a few percent there's like a flood of sellers willing to market sell it back down. My only possible explanation to this is that whoever is accumulating (and has been since the last low around .0016) wants to dry all the supply at these levels before letting it go up. So basically they're buying all the coins up to their target and then they're selling into their own bids which are lower, forcing others to sell lower into the breakout, into their bids. So even though they're buying it up, they're trying to accumulate at the lowest possible price, as close as possible to the point from which they made the breakout.
What's crazy is that some traders are actually falling for this strategy and giving their coins away cheaply right before another breakout takes place and leaves them behind.
