Re: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs
IMO many whales that are accumulating and early adopters that are cashing out have decided on a ~$0.20-0.25 price to buy/sell. Since the last rally, any time the price moves too much above or below this price, it quickly corrects back. That is the price point I decided to cash out 20% of my holdings back when it was below a penny. As soon as the early adopters are finished cashing out I'm guessing there will be another rally because there are no newly minted tokens entering the market from miners with electricity/hardware bills.
You may be on to something, it does look like the price is being manipulated pretty heavily at this point. Hopefully it's because someone or someone(s) are stocking up for a big run up/pump.
When nem was around .03 iirc, it would have some significant upward pressure every 4 or 8 days. look at the graph on cmc when it started rising and it was almost like clockwork. 4 or 8 days and we would reach new highs. That has stopped completely for this last month, and everytime it goes above .20 or below it seems to find its way back to around .195 or .20. As soon as it starts to make a upward climb it gets knocked right back down pretty quickly.
I wonder where this will all lead.