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
It also has to do with the fact that BitBTC isn't activated yet. Why?
BitCNY isn't activated yet. Why?
When both are activated then we'll have more flexibility but the best move I can see is to buy BitUSD and hold it. You will not lose any USD value during the dumping because holding USD is dumping within Bitshares itself.
Do not sell for actual fiat unless you have a bill you want to pay or your taxes. Do not cash out into Bitcoin thinking somehow that you wont end up buying back in at a higher price later.
That's what I have been doing.
You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.
It's actually quite amazing, the peg is holding really well too.
Yes and we need a thread on this forum titled: "What to do when newbies dump BTSX" with a set of instructions about how we can profit by it. I'm making a profit as are you but the majority of people don't even know it's possible.
I actually feel sorry for people who get out with the intention of trying to get back in later. It takes a lot longer to go through Coinbase to get your cash in and out.