/biz/ - Business & Finance

>>13973147
literally 30 minutes until the rocket

>>13973159
Prove it

>>13973190
that's the time when whales buy back...

doubled my position @ 231 ready and waiting

hey /biz/, I'm new to margin trading and I figure I'd ask you guys to explain these massive dumps we've seen today: I don't quite understand what incentivizes these people to dump so hard , especially since they were dumped at a relative low price point for that period of time. Is it collective panic selling? Or could this be someone purposely trying to manipulate the price to a lower price? As you saw, there's basically no recovering from these dumps throughout the day and prices have steadily gone down since.

Also, if anyone has any tips doing margin trading, I'd would be glad to receive your wisdom. Thanks /biz/

>>13973251
Dude this is all market manipulation

>>13973251
I will let you know at 00:00 UTC

>>13973311
in 15 minutes? what's going to happen in 15 minutes?

>>13973354
the thing that incentivized the dump

>>13973372
What?

>>13973372
are you saying there's going to be another dump in 15 minutes?

>>13973399
probably not
this time it will happen on the opposite way

>>13973405
then what's the thing that incentivized the dump?

>>13973515
The reason it dumped so hard is the trading competition on Binance DEX:
https://www.binance.com/en/support/articles/360028960251-Harmony-ONE-Trading-Airdrop-on-Binance-DEX-25-000-000-ONE-and-3-000-BNB-to-be-Airdropped-

The competition has a rule that incentivized the dump:
> All Binance Chain addresses that reach a trading volume of 100,000 or more Harmony (ONE) tokens (including buys & sells) on Binance DEX during each full day, while also holding a minimum of 10 BNB in their address at the end of the day, will equally share a pool of 5,000,000 ONE and 600 BNB tokens.

To comply with the rule, participants have to have to dump 100k ONE then keep 10 BNB. Even if some of them feel bullish about ONE, they still have to keep that 10 BNB, so they will buy back less ONE than they held anyway, creating a higher sell pressure than buy pressure.

wait, what?

Literally just wanted to buy, went to take a shit, come back, it rocketed 15 sats. Wow.

>>13973572
now the competition is reset, people are buying back 100K ONE to reach the goal again

>>13973249
ooooooooooo

>>13973625
Oh, so THAT explains the volume

thank you very much, that actually helps a lot

>>13973625
So, are we to see a price increase after this?

>>13973715
it's literally pumping right now..

>>13973159
holy crap, anon...are you from the future? nice call, mate!

>>13973720
Yeah except I doubt it will continue to pump

>>13973742
it will
the cycle will repeat until the trading competition ends on Thursday

t-the cz bots are on

>>13973774
yeah it's literal free money from CZ if you figure out what's going on right there

Bought at 230 sats on a whim :-D

>>13973800
where are we going on this pump?

>>13973159
This one is clearly touched by Kali.
Oh holy one, please guide us to 1000 sats.

>>13973753
the proof of this theory is that the price movements have been majorly led by the DEX if you look at: https://www.binance.org/en/trade/ONE-5F9_BNB

>>13973948
I dunno, but it will likely start to dump again 24 hours later

>>13973968
Things usually dump a lot quicker than that, no?

>>13973968
and then mega pump on thursday when the comp is over and all that BNB floods in?

>>13973848
i bought a handful around 231 on a whim too. i hope i don't wake up tomorrow regretting this...

>>13974012
come trade margins with me anons

Really /Biz...
I just went to get dinner and this.
fucking tight right now

why didn't you Spill the beans sooner. I thought we was Senpai Senpai

watching these fucking bots just having at it

Brilliant call anon, well done

>>13974098
these are all bots, right? program to follow trends when price conditions are filled?

>>13974137
It's always a mix, but at the moment it feels very unnatural

Long way to go until I'm even frens, keep it pumping for me.

>>13973987
Some whales might have a bot to automate the competition because it has no limitation on the number of addresses you can use on Binance DEX. The bots are likely configured to buy/sell at 00:00 UTC everyday until Thursday.

What does this shitcoin do?

>>13974320
who cares I day trade

you all better keep holding! don't sell this shit.

>>13974474
why? isn't the competition going on right now based on trading volume? isn't this a good time to catch the margins?

>>13974474
Holding for a x50

ONE, nothing wrong with me

>>13974616
TWO, somethings got to pump

My stop losses have been fucking me up hard lately.

Both of them were just touched before the price went back up again and guess who has lost money because of this

fucking JUST

>>13974950
sorry desu, that sucks. the action isn't that volatile though, and there aren't a ton of stop-hunting-wicks, so you could take a smaller position and set your stops a bit lower.

>>13974590
that's pretty optimistic...that would put this at $1, which isn't going to happen for a long, long, long time, as far as I can see.

>>13975235
What's the hope here then

>>13975235
TELL ME WHAT IT DOES

>>13975645
read the whitepaper gaylord

this coin is shit, im about to sell everything

the charts never lie

>>13976074
does this mean moon? I bought at 320 sats

>>13976083
oof. Probably start margin trading the cycle bro.

I GOT IN AT 250 AND ALREADY LOST SO MUCH MONEY AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH I NEED MY TRADES BACK FOR WHEN TRX MOONS TONIGHT TOO

I pulled. Lost almost 1k but at least the trx pump should make me back almost what I lost. The question is....
>Do I buy back in tomorrow

>>13977385
The true /biz/ way

>>13973249
Hope you managed to get out at that peak

>>13973298
Implying everything isn't..

>>13977385
kek...way to panic sell...now watch as we get back above 250 in a few hours. (also, haven't you noticed that btc dropped +$300...that isn't helping

when does this thing move up? :(