One thing should be clear regardless:
There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range. This bitshares whale has been slowly selling off a couple million a day since then.
We found what couldve been a bottom at around .063 CNY at the beginning of the month. The price held steady at that level for days, and there kept being million share dumps periodically in the 65 to 63 range. And the Buywall kept being refilled each time - for a while.
Whoever was supporting that area ran out on Feb 6 and the whale just kept selling even though BTC wasnt dropping, which has since been causing the BTS/BTC ratio to crash.
The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low. There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate.
Eventually this bear will either run out of BTS, or run out of desire to sell / need to sell, and the dumps will decrease, and the bulls who right now are getting their orders filled by placing lowball bids will stop getting filled and will have to start bidding the price up if they want more.
This has gone on longer than I expected. I just got a STUPIDLY low order filled on bter that I absolutely did NOT expect to get filled, EVER. (I think that one was a panic dumper, not the bear whale - who is on btc38).
These are good times to keep dollar cost averaging into BTS. Just put up lowball bids and leave them there. If they get filled, you get super cheap BTS, if not, you get to be relieved that BTS stopped dropping and can go up again.