Thursday 26 august 2021 around 20:15 UTC
The following is in now way a try to advice someone for investing something, as it solely are some thoughts of a humble newbie
Referring to excelencia's articles about green heavens in a red see 1,and 2 ,today I noticed the four "green"coins mentioned in these 2 articles(ICP, ATOM, AVAX and QUANT ) turned red, when compared with the price they had at the moment of publishing of these articles on 19 and 25 of Aug 2021 respectively.
I took knowledge already about whales , they can gain thousands of dollars by pumping and dumping the price of a token, buying and selling enormous quantitys, in this way manipulating the price, to cash the difference between the high and the low price , and as the altcoins tend to follow the bitcoin volatility, which these four coins didn't do contrarily on 19 and 25 of august, this time the green heavens from yesteryear all four turned red , following the dip in the price of Bitcoin.
All four coins mentioned green heaven in a see of red, have now a dip in price, following the dip of the Bitcoin price:
1.For Internet Computer (ICP), which had a price of $64.67 at the moment of publishing on 19 Aug 2021,
the price now(Thursday 26 august 2021 around 20:15 UTC) is $56.97, representing a 11.3% loss [100-(56.97/64.67 *100)]
2.For Cosmos(ATOM), which had a price of $18.90 at the moment of publishing on 19 Aug 2021,
the price now(Thursday 26 august 2021 around 20:15 UTC) is $18.23, representing a 3.5 % loss [100-(18.23/18.90 * 100)]
3.For Avalanche(AVAX), which had a price of $52.53 at the moment of publishing on 25 Aug 2021
the price now (Thursday 26 august 2021 around 20:15 UTC) is $44.28, representing a 15.7% loss [100-(44.28/52.53 * 100)]
4.For Quant(QNT), which had a price of $197.71 at the moment of publishing on 25 Aug 2021,
the price now (Thursday 26 august 2021 around 20:15 UTC) is $185.96, representing a 6.3 % loss [100-(185.96/197.71 * 100)]
So, apparently now , these four coins follow the downward trend of the bitcoin, whereas they did the contrary on 19 (for ICP and ATOM) and 25( for AVAX and QNT)of august, when they surged in price all four when Bitcoin turned red instead...
To be honest, I really don't have any explanation for this inconsistent behaviour of these four coins on 19 and 25 of august, when they had a meaningfull surge in price as all the other coins in the top 50 in Market Capitalization lost value at that time, to today them following the general trend of having the price falling down together with the Bitcoin price fall.
But we keep observing and analyzing phenomena to try to gain some insights which might help us in the future , lets explain it this time as a result of the "pump and dump" game of the whales...with a personal wish to buy the dips, as I consider these four as long time gainers for hodling also.
Thanks for your attention, succes in trading and up to the next article,
Cheers,
Thursday 26 august 2021 21:40 UTC
