Market Commentary [XMR] Its been quite a week for Monero with regard to price appreciation and volume. After falling below the critical 0.001 level once again a few weeks ago it looked bleak for the most interesting anon coin on the scene in our opinion. However, as they say, “things are always darkest before the dawn”. Following a textbook double bottom that held on significant volume, the all clear signal was waved for the bulls and they moved into the market en masse. In fact, over the past 24 hours, XMR has the highest trading volume of any altcoin. Combine this …
Monero Price Bottoming and Breaking Out?
Monero - A Rising Crypto Star? Monero has been a rising star in the cryptocurrency world in the first part of 2014. This was before it plunged from its high of 58100 Satoshis to 9100 Satoshis on December 17, 2014. This big decline resembles a percentage drop of -82.16%. The Monero price decline is a prominent example of the “pump and dump” reality in the cryptoworld: New altcoins get hyped up by large holders. This creates broad awareness. Then, altcoin traders and speculators jump on board and the price rallies. Finally, large holders dump the coins and cash in. And as a …
Why Whales Matter…
by @AKWAnalytics There is little doubt that the biggest topic of conversation amongst altcoin traders these days is the idea of “whales” (no pun intended). They have become mythical creatures that wield great power in a reality that those of us that are mere mortal traders could not possibly imagine. Nothing illustrates this better than the rise of “bearwhale”, a supposed bitcoin early adopter who decided to sell 30,000 BTC over the weekend on the open market (BitStamp), below market price, for a whopping $9 million. The appearance of the 30k wall shaved 10% off of the BTC/USD price in …