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October 05, 2017, 09:42:50 AM |
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Elix is traded only on coinexange, so you can watch the order book . THe dept of market indicated sell pressure, there are big sell walls.
I was trying to analize the situation, because when somenthing it's risky can also be remunerative, remember.
There has been a big pump and then a dump, and this make it look like a classic pump and dump scheme.... but if we go into the depth there was a misundertanding in coin supply , which has generated a panic sell.... how much this misunderstanding is real and not forced, I can't know
So the people start selling, and the crash stopped at the price of 0.20$ and now it's stable from two days.
In the order book the spread is high, there are so much people willing to sell at their price rate
Sell Orders Total: 484729.90781007
Buy Orders Total: 52.58273398 BTC
At the moment I am writing the the best sell is
price ELix Bitcoin 0.00004460 556.21015087 0.02480697
And the best buy order is
price Elix Bitcoin 0.00004289 1058.12341723 0.04538291
The spread is high
The price is moving in a trading range and here I have some analisis:
1) It's a low market cap, the wales are manipulating it to make it shorting and buy cheap, waiting for the team revealing themself or for other news
2) It could be pump a dump scheme, so there are some people that are trying to sell, but as seen that there is no buy demand for the price they want to sell, and the wales don't want to lose profits, the price keep on moving in a trend range situation
What do you think? Which analisy is correct in your opinion?
P.S. OBV in this tread there will be FUDers.
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