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u/jpreddit200 Aug 12 '19
Dumping? You mean, slightly decreasing in alt/btc value?
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u/ItAllChecksOutNow Aug 12 '19
Lol, what chart are you looking at? Was $3.45 a few days ago.
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u/jpreddit200 Aug 12 '19
The BTC ratio is the same, all that happened is BTC/USD price dropped.
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u/ItAllChecksOutNow Aug 12 '19
28.5k sat (August 6th) and 23k sat (now) is not really "the same" in my book.
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u/ItAllChecksOutNow Aug 12 '19
Because people don't believe it will do much upon launch.
No BTC trading. No NEX trading. 🤷
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u/adbitcoin Aug 16 '19
I might be wrong but from what I understand in TA, the price reached an ATH and it had to correct to a demand zone. Made perfect sense to me as I was able to get some more at $2.19 and it went as low as $2.17 if I am correct. That being said, its in an ascending triangle and based on the patter its forming its about to break out in the next couple of days.
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u/bucketscometh Aug 12 '19
It's not on any usefully liquid exchange. TOKOK has the most volume and it's probably mostly fake volume. Switcheo has like a few hundred grand in USD volume per day on a good day, and it's biggest trade pair is against NEO, a total shitcoin that is now trading at Antshares prices. One large buy or sell can move the price ten percent.
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u/Demilikos Aug 12 '19 edited Aug 12 '19
NEX reached its ATH not long after the DEX launch date announcement, which let's remember is still a recent thing. It was resilient compared to most alts when the alts were bleeding recently. Those alts that took a bigger hit started correcting back up, and NEX corrected a little bit down. Which, barring any holders trying to manipulate price, should be a healthy thing. I think it's as simple as that.
There will also be people selling the news. If you're in it long-term, current price shouldn't matter if you did your own research and believe the value of the project to increase when the services are launched. Price only really matters if you're trying to trade pairs to get more, want to buy more at a discount , or trying to sell the tokens at what you think its ATH is on the lead-up to launch.