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Offline Marketorder

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Why is Bitsharesx dropping like a rock?
« on: August 27, 2014, 01:44:29 AM »

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Offline lucky331

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Re: Why is Bitsharesx dropping like a rock?
« Reply #1 on: August 27, 2014, 01:51:46 AM »
trends come and go in the open market be it btc, ltc etc.. etc.  if you're a trader, the thing is not to predict where the market is going, but rather follow a strategy that suits you and follow a good bankroll management plan.  if you are a long term investor, well..  no need to worry then.  just HODL.

Offline JakeThePanda

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Re: Why is Bitsharesx dropping like a rock?
« Reply #2 on: August 27, 2014, 01:54:21 AM »
Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Just when I thought this forum was troll free.  Welcome! ;D

Offline jae208

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Re: Why is Bitsharesx dropping like a rock?
« Reply #3 on: August 27, 2014, 01:59:24 AM »
Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Since it was launched its been in the top 10. Its dropping for a number of factors one of which is that some people want smaller quicker profits now rather than larger profits later
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Offline puppies

Re: Why is Bitsharesx dropping like a rock?
« Reply #4 on: August 27, 2014, 01:59:41 AM »
The spectacular news is that even though there is still currently a discount on bitUSD it is tracking quite nicely.
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Offline Riverhead

Re: Why is Bitsharesx dropping like a rock?
« Reply #5 on: August 27, 2014, 02:03:22 AM »
Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?


There was an initial exuberance when the market launched which caused the typical crypto buying frenzy. Frenzy has passed and now people are taking profits. It'll probably go back and forth a bit like this as news gets released and the marketing campaign kicks off. Just hold on and don't panic. These are early days. What the market does in the first few weeks says nothing about the long term staying power of the ecosystem.

Offline tonyk

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Re: Why is Bitsharesx dropping like a rock?
« Reply #6 on: August 27, 2014, 02:22:12 AM »
I for one find this pull back very healthy. And that is not only because of my and my friends material interests.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitmeat

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Re: Why is Bitsharesx dropping like a rock?
« Reply #7 on: August 27, 2014, 02:34:48 AM »
I for one find this pull back very healthy. And that is not only because of my and my friends material interests.

Agree! Completely healthy and natrual price movement. I would be worried if it kept going and going forever.

I actualy hope that we hit that 32 BTSX/USD level and see what happens once we take out all the margins at 31, it might generate a short squeeze. Not fun for the shorters, but would be nice to see how the system handles it. Plus it will shuffle the margin levels a bit.

Offline CoinHoarder

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Re: Why is Bitsharesx dropping like a rock?
« Reply #8 on: August 27, 2014, 02:35:15 AM »

Offline tonyk

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Re: Why is Bitsharesx dropping like a rock?
« Reply #9 on: August 27, 2014, 02:40:29 AM »
I for one find this pull back very healthy. And that is not only because of my and my friends material interests.

Agree! Completely healthy and natrual price movement. I would be worried if it kept going and going forever.

I actualy hope that we hit that 32 BTSX/USD level and see what happens once we take out all the margins at 31, it might generate a short squeeze. Not fun for the shorters, but would be nice to see how the system handles it. Plus it will shuffle the margin levels a bit.

Plus it will give some wisdom to the mindless/greedy BTX bulls that do shorting well below parity!
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bluebit

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Re: Why is Bitsharesx dropping like a rock?
« Reply #10 on: August 27, 2014, 02:46:59 AM »
Like a rock, woa like a rock!!!!!!
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Offline JakeThePanda

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Re: Why is Bitsharesx dropping like a rock?
« Reply #11 on: August 27, 2014, 02:51:46 AM »
Yeah well, a 67btc sell wall just got destroyed.

Offline cygnify

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Re: Why is Bitsharesx dropping like a rock?
« Reply #12 on: August 27, 2014, 02:55:00 AM »
Yea there was almost 100 btc up on that wall around that time, didnt spook the market at all. Good sign.

Offline hamiltino

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Re: Why is Bitsharesx dropping like a rock?
« Reply #13 on: August 27, 2014, 02:56:07 AM »
what goes up must come down. Almost time for me to short.

merockstar

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Re: Why is Bitsharesx dropping like a rock?
« Reply #14 on: August 27, 2014, 03:01:53 AM »
after a 1000% rise like we just witnessed, I'd be worried about BTSX's health as a cryptocurrency if it didn't correct a little.

volatility has been the hallmark of the crypto ever since bitcoin was birthed.

cryptos will continue to be volatile (except bitFiat, which is stable by design) until they are widely enough known that the market cap is so high that clusters of rich speculators can't manipulate the price.

 

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