This is just like I told everyone beforehand. POSA will be a classic sell the news event. Wait for a true bottom if you want to own this coin.
People are like "oh this person always says the same stuff over and over" and it's because the same thing happens again and again in every coin. Yet people want to believe this is different. My sides.
the current price should only be emotionally compromising day traders.
anyone else knows that this coin did about 2500 BTC volume the day it got listed on MP, and about 2000 BTC the same day on bittrex. there is a lot of outside interest in this coin. these current fluctuations are just alt-coin day traders looking to bob and weave between the hot new coin of the day.
won't mean much when the entire darknet is buying cloak in the future.
there's not real reason to panic unless the devs decide to quit, or figure out that PoSA cannot work as intended etc. THAT would be bad news worthy of a dump, anything else is just day trader impatience, at REALLY low volumes. 100-200 BTC volume is nothing for this coin. with one day's worth of volume this coin could be higher than 350k.
And why is such a successful coin still having everyone meet on bitcointalk. Shouldn't you people be on your own forum and let us debbie downers talk here.
so remember to keep things in perspective.
High volume because whales never fake the volume to increase interest and the price to only dump higher on us.
And yes the darknet is gonna put $500 in cloak to buy some drugs only to find the price went down and now they can only get half the amount of drugs they wanted. The vendors are not gonna risk losing money either.
And shouldn't this successful coin have it's own forum. Still having everyone meet on bitcointalk??