Bitcoin Forum

Why does NEO have the top volume on Bittrex last two nights?  Even though the price hasnt moved,  except for the dip

I highlighted that many users sold it and some may buy it,
while some put their position.
I found also that my self for NEO is uncertain now,... :)

whenever the daily trading volume of a coin is high, it shows that a a lot of people are trading that coin. in other words it shows interest that market is showing towards that particular coin.

when you couple volume with price you can speculate about the price.
* if price was falling down, and volume was high, it shows a massive dump which you need to stay away from until the volume is lower and the drop stops.
* if price was rising fast and volume was high, it shows a massive pump which you should get in as fast as possible to make profit as slows down sell.
* but whenever price is nearly the same but volume stays high enough, it usually shows an accumulation phase. this phase is when traders are buying that asset but there is no rush, they "accumulate" coins before the rise and the rush starts. it usually shows an upcoming rally.

Thanks for your help!  Solid answer.

Not true at all. Major reversals have the biggest volume. Go check out the charts. If you get caught in those while folloing his advice ... then good luck.

Because there is a massive dump, people are selling it because of china's ban on ICOs. If there is a massive dump that means there are also a lot of buyers. Therefore the trading volume is very high.

i agree with you, NEO has an excellent market performance in the past months and many people are interested in it, on the other hand, China may ban this coin cause its ico finished not long ago, so many people sell it, then appears the massive volume

I think it is because of the China ban ICO and some big exchanges in China has stop the trading, such as the YUNBI.com and so on, but Yunbi will open again tomorrow and the some coins will be delisted.

Neo have top volume on Bittrex way before this China ban, people think anything would be successful if they attached the word China on them.

I think NEO investors are selling everything because of China prohibition of ICO but I think otherwise because if China bans all ICO then surely the Cryptoucrrency market could be difficult without the Chinese investors and in a short time all altcoin has fallen dramatically

I'm a believer of NEO, I will still hold it...There will be a comeback.

first of all if the investors were selling everything then there would have been a massive dump and price wouldn't just stay there with a little drop instead in the last 24 hours!

secondly ICOs are only used in Ethereum, other platforms don't really have any and other altcoins are not at all affected by the news.

i can't really explain why the volume of NEO is this high, but it certainly is not what you said. it probably is because it is reaching its bottom and people still believe in it. it can also be because some whales are fighting each other to pump or dump it. we wouldn't know for a while.

i also think sells is the reason

Yup people buying up NEO when it's cheap while sellers selling in panic as the future of NEO is uncertain.

You're question looks like, why there are a lot of people in the supermarket when a product goes on sale? It's just market psychology you pleb.

I think this is the correct answer.

because this Chinese ICO regulation is mostly about Neo. Some people think it will affect Neo negative and sell, some people think this is a good buy opportuniy and buys. This goes this way and volume increases :)

the funny thing is that the ehtereum of china most of its volume coming from the western market lol
while china exchanges usually have the lowest trading volume even before the ban, this shows its hype based on speculation and the name of being ethereum of china

Chinese rich manipulators like exploit standard traders, that's the main reason why. They make great money by trinking the people in neo trading with pumps and dumps.

I think the future is really uncertain for NEO because it was meant to serve a platform for ICO in china but there is the case where there will be no ICO in China, I wonder what we can do with NEO again. The future for it is no more . So people have no option than to sell it.

Neo Isn't all about ICO's. There is quite a bit more to it then that. It's a good buy at this price point IMO.

It seems like Neo just turned from downward motion to upward motion. But then it hit "sell-wall" at 540k. All buys over 540k are currently countered with sales so that the price stays at 540k. Its like a flatline. Is something going to happen soon, big bump or dump?

After some reading Im guessing its somekind of attempt to get the price down: