Two nights ago, when I went to bed, I expected it to be over by the morning. But after watching all day yesterday, and now as I am posting this the fourthfifth round is beginning, I can say one thing.
This pump is different.
I don't know why its different, or what the motives are here, but someone is accumulating HIVE hard (and relatively fast), using spear fishing liquidity aquisition.
Is this a money attack? I don't know. Let's look further.
If you didn't know any better, looking at this chart for the last 24 hours, you might think this looks like a normal chart. It goes up and down, just like all charts do.
It looks like its going up!
Let's take a look over the last month:
Seems like a pretty good month for HIVE.
Maybe just another Korean pump? Volume on upbit is high (as always), but I noticed something interesting - upbit is not pushing the price:
What is "spear fishing"?
No I am not talking about phishing, where they try to get you to download a pdf or login to their alternate site.
I am talking about accumulating tokens - stabbing into pockets of liquidity and then withdrawing, waiting for the liquidity to "automagically" appear again as if from nowhere (getting sucked off of the internal market)
How can we know if this is happening? My main evidence is the time that this is taking. Last night I managed to sell 1000 HIVE for HBD, pull it into HIVE engine and buy 1060 swap.HIVE. This morning, there is not a pull back, but in fact the internal market has pulled up to this level:
This is not a pump and dump, its something else. How long it will last, and what will happen next - well that is crystal ball territory. But don't spend all your dry powder at 36 cents, because then you would be BULL TRAPPED.
Stay frosty friends - see you on the other side!