See those round sell numbers? That's a whale trying to exit the market with 1million + coins.
This will take days. And let's hope there's only one.
Price stabilising around 20k for a few days will make me bullish if we still have a good mining pool and trading volume. Stay tuned.
I think we're dealing with 2-3 whales on mint and 3+ on Crapsy
I'm expecting the price to settle around 9000-11000 satoshi
Once bids build back up ill bet the whale will dump. Until then he will keep manipulating the current price
let the whale sell. it's healthy for the coin. responsible whale make spread distribution by selling to many small orders. we want as much of the coins bought off the market as possible. then there's less resistance going up. as it is.. if u look at the sellbooks.. there isnt really any resistance to take it back to 60ksatoshi. we can chalk it up to a short period of doubtful investor confidence and that whale. if everyone is patient, the rebound should be quick once we're done with the whale(s). $125million is chump change amongst the crypt-community.. blackcoin can make do double that market cap by the multipool alone given enough time. but i think if we really want to work together as a community, our duty would be to buy/mine and hold coins off the market in our wallet constantly. that way eventually any whale manipulating the market would lose all his coins as we constantly buy it up to the highs to 1btc=1bc even if at that point we're only selling fractions.
it can be done. it just takes commitment from the community. the larger the community, the faster this goal can be accomplished. very important to remember that quick turnarounds are what slowdown the growth of the coin. which is why i advise uptrading margins by large gaps and not small ones.