http://youtu.be/2wXsNpnUOOIWatch what the order book looks like after I remove all my sells.
Dirty, right? That's just one of many tricks whales use.
If i had all day i would sell into that 4 btc wall until it gets cleared out and push it even lower.
I wouldn't lose any money because my average price is much lower than this. However, I know there is very little supply below 4k at this point so I am not going to give up my coins cheap and risk having to buy them back higher.
Also, I would only be benefiting the other whales who have 40+ btc in buy orders spread out below 3500. Think about it logically, who else would leave 10 btc walls up for a week unless they had over 100 btc to play with? In other words, they are supporting this price range and would not let it drop below 3k or they would lose money
Very clever tactics.
I hold about 260K of SC and i almost risked selling them in the weekend when it spiked, but i didnt want to risk the price going back up when i was asleep!
I could have doubled my stake.
But at the end of the day i think its better if more people have fewer coins if the price is to go higher, so im just glad i kept them.
Murphys law always seems to apply here!