[ANN][PSB] Pesobit, the currency for remittances and international cooperation

Understanding the market

Pesobit is having a sideway market or basically a stable one with prices playing within a certain range recently. In every trading, bullish market are usually followed by a bearish market due to profit takers and it happened to Pesobit few days ago when it peaked around the ~10k satoshis or roughly 3 Philippine Pesos per coin.

Most people will ask WHY? I think the better question is WHY NOT? People trade for profit and that ~10k satoshi mark is a good selling price, you'd rather sell at 10k satoshis than in 10211 satoshis what I mean is, it is a very appealing number especially coming from a 343 satoshi ICO price which is a very big jump. Good traders know that the 10k satoshi mark is somewhat a mini barrier in price so what will happen is that people will start selling just below that appealing selling point. Coincidentally, 10k satoshi or 3 Philippine Peso mark also became the initial peer-to-peer price but don't worry it's not your fault guys it's just makes the 10k satoshi mark a good selling point.

So why did the coin go down all the way to around the 6000 satoshi mark? Once people see that sellers are creating big sell orders at 10000 satoshi, some will start selling cheaper just to get ahead of the pack and it will create a snowball effect or downtrend caused by panic selling but you can't blame them they just simply want to get their profit as most of these sellers came from a 343 sat mark meaning the 9000-10000 price range is x30 ROI. Any legit investments bearing a x2 ROI is already considered a very lucrative and in any trading that's an easy target for selling what more a x30 ROI.

In trading, there's consolidation or basically prices moving within small ranges. Consolidation occurs when people are agreeing with the current price range making it some sort of a benchmark as people are battling for buying and selling at a price range. Price can breakout in either ways after a certain period of consolidation and this is when people collectively decide that the value of a unit (in our case Pesobit) deserves a higher or lower price than what it is within the consolidation period. If more buyers come in during a consolidation period then it could break out creating another upward trend, but if there are more sellers then the price will go down again. Consolidation breaks depending on who wins the fight, the buy pressure or the sell pressure.

If you're a long term holder of a stock or coin, you will want a consolidation because it gives you more time to acquire the stock or the coin at a cheaper price before it breaks out. Because once it breaks out to a higher level, you will have less purchasing power meaning you can only get less Pesobits with what you have. Every trader have their own reason why they want the price to be at a certain level, some will start a downtrend so they can get more out of their money as they will end up buying after the price goes down, some will start to spread negative news or create chaos to hold the price for a longer period of time either because they're waiting for funds that they'll be using to buy for or they just simply hate Pesobit. In most cases, the haters end up buying the coin secretly after it goes to a downtrend so don't bite into their psycho war as they usually win. Day traders are well experienced and will do whatever it takes to get the coin that they want at a cheaper price.

Always remember though that Pesobit is not just a coin for trading, it is a cryptocurrency for usage so even some of you are getting the hang of trading this is just to remind you that trading is just sideshow for Pesobit. The reason why I'm pushing Pesobit to more currencies is for people to have more ways to buy/sell Pesobit. It makes Pesobit more liquid by having more exchanges within the community and there are more to come as I myself are dealing with these service providers that will make Pesobit as famous and as liquid as possible. What is the high-price for if you cannot convert it and that's where the trading volume comes into play. The higher the trading volume the currency has, the more liquid it is. The more liquid it is, the more stable the price becomes because of Arbitrage - and you're seeing this into play already.

Easy liquidation, more stable price is what's needed for Pesobit adoption in markets like eCommerce while Remittance and Freelancing will also benefit from that but eCommerce will be the most affected. There are other plans to increase price stability.

Earlier I bought several orders at C-Cex to bring the Sell Price up again, it's basically to show some how trading works and that one person buying the Sell orders won't create a better price and it is simply because of our higher marketcap. A single buyer with 5 btc or less or a single seller selling 10,000 Pesobits won't affect the price too much. A breakout from consolidation requires a collective effort and a big buying or selling power.

But don't worry, usages will come, negotiations are being done in the background, developments are being done in the background so the price will increase naturally due to higher demand and that is what Pesobit is all about anyway, it's not about price manipulation in trading and creating price bubbles it's all about great demand and that price increase will come naturally whether you like it or not. For now, learn how trading works. See what causes price breakouts in the near future so you will be able to time them well to your advantage. There is a saying, Buy the rumors, Sell the news, it can work in your favor.

On the side note, Pesobit price is attached to bitcoin (we have USD but in C-Cex only) meaning if Bitcoin price increases alternative coins' prices like Pesobit decreases because for the simple reason that people want to convert their Pesobit to bitcoin so they can sell their Bitcoins. There are times that you're losing value in bitcoin but in US dollar, you're actually not.