This is the greatest sell wall I have ever witnessed for ETC.
What do you guys think, who might be behind this and what are the intentions?
Here is a screenshot from my Coinigy account:
Massive 500 Bitcoin Sell Wall Right Now for ETC at Poloniex
8 years ago by deepbits (42)
$0.04
- Past Payouts $0.04
- - Author $0.03
- - Curators $0.01
It's not a buy wall, it's a sell wall. I wonder if its the part of the ETC from the hacked DAO? If the hacker isn't selling his ETC he'd be nuts.
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I don't think the hacked ETC will hit the market until end of month.
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Thanks for correction, updated the title!
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im too dumb to understand this but someone is about to get rich
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Yep, taking from the novice trader like candy from a child lol
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Anyone showing their hand like that is trying to 'move the market'. Often it's a fake intent and will be removed as soon as shown. If they were intent to buy or sell why show their hand which would give confidence to the novice trader and push the price against them. Don't fall for it! Reminds me of Gordon Brown who announced to the world that he was going to sell half of Britain's Gold holding before doing so, thus surpressing the price and getting a worse deal for Britain. You don't announce your intent before a trade unless you have another agender.
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So the goal for the whale is to actually make the price fall and buy cheaper even more?
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Experienced traders never chase the price, the successful tend to buy when people are scared and selling and sell when people are euphoric and only think the market will rise further.
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Good points in this article. Thanks for bringing this to my attention. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. Besides coinmarketcap.com there is: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. Check for example: https://www.coincheckup.com/coins/Bitcoin#analysis To see the: Bitcoin Analysis.
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