So if you have been trading recently, you may have seen OKCash's meteoric rise and fall to prices below whats been seen in some time! Seems pretty odd doesn't it?

Where are all these sales coming from?

chart tonight from Bittrex
As of this writing the price of OKCash is around 7k satoshi's - one of the things that is odd about this is that over the past week there was a convention held online for OKCash which was really going to help shape the price of the coming days. Some enthusiasts believed that it would drive the price way up, potentially even into the 14k-20k range which is huge action for active day traders.

So, wonderful! The world got the idea that OKCash could be killin' it in the course of two days time.

Except....

For some reason as you can see, the chart dropped to 7000satoshis....

This happened during the conference. It seemed the rumors that came out around that time were people thought it was based in China.

Well then BTC took a dive today, and it seems that this is an exact correlate. A source told me (and mind you tips are very plenty and frequent from everywhere and all the damn time wrong). That this was actually the work of some big Whales working to save their BTC by jamming the prices down and thus doubling their profits when BTC has hit a floor.

This is market manipulation at its finest. Whales pushing the market up and down and suckering regular traders to grab their bags and shake them out for next to nothing due to the fear.

FOMO driven trading is hard to avoid. When do you know your at the top?
What about the bottom?

Its a hard question to answer, especially because there's very little technical analysis to use that will truly show this action.
We can all talk about double tops and double bottoms, but do these matter when you place orders of thousands and thousands of dollars worth of BTC and simply break through any sort of analysis that is out there

Welcome to today

This is odd isn't it?
More falling. The price was held at the floor. Then all of a sudden a really significant pop a few minutes ago.

Here is the order book as of a few minutes ago,

See those buy walls and sell walls?
This stuff is poised for a big move. Trading volume has doubled in the past 24 hours but only a very small amount of price change?

Rumors?

This further reaffirms what the rumors were saying (in my eyes). These people dump things down then pump them up for their own gain. Once the frenzy begins its really then carried by the average trader until the whale decides to dump out, driving the price back down - This can go over and over again, as the whale may then buy back into the coin.
Who knows where this coin will end up, but I know I will be watching further.
Who knows where it will end up, but it could be a very lucrative ride!

What do you think?

Please keep in mind these are only my opinions. I am not responsible if you are dumb and lose money. I am not a financial advisor and definitely own OKcash

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