OK it was nice to see Hive suddenly spike up from $0.36 to $0.44 overnight, but then the pump has been sold into within just 24 hours to leave the price only slightly higher at around $0.37!
I mean these pumps are all part of crypto of course, but I'm not sure this one is encouraging. O.K. someone bought A LOT of Hive in one go, but then there were a consonant amount of people willing to take a bit of profit at the slightest sniff of $0.40.
And then there's STEEM.. WTF?
The shitcoin, STEEM also pumped at exactly the same time as HIVE...
I've opted to rename 'STEEM' SHIT below, because STEEM is shit.
SHIT went up from $0.18 to $0.25 which is the same increase in raw terms, but percentage wise is a much larger pump-increase.
And similar to HIVE, SHIT is now back down to a level just above where it started...
Someone playing HIVE and SHIT off against each other..?
I mean there is literally no way this is a coincidence, there's approximately a 100% chance that it's the same person buying up both HIVE and SHIT
It could be that they are just enthused by the recent crypto pump more generally, with BTC having gone up a bit earlier this week...
I picked a couple of random coins to see if the patterns are the same just above HIVE in Market Cap rankings and both SCRT and WAX have both risen in value over the same week neither pumped at specifically the same time as HIVE and SHIT.
Maybe someone has just taken some profit on their BTC or other pumping alts and suddenly discovered social media chains buying in to both at the same time?
NB if so they haven't discovered BLURT yet...
Then again, there's not a lot to discover on BLURT other than bitter disappointment!
A genuine buy-in or a just a quick attempt to make a profit and then dump?
I've no idea whether the person who bought all those coins is going to hold them, or wether they have some cunning plan to make a profit somehow.
Maybe they know more about exchanging HIVE for HBD and SHIT for SBD and know how to make the most of playing the internal compared to exchange markets.
Then again, maybe they got burned!
In any case I've no interest in trading SHIT, that's a dangerous game, but I was happy to sell a little HIVE around $.40 and put a few lower buy-orders back in.
I just wish I'd had some on the exchange on order at that $0.44 point, oh well, maybe next time!