Long term I think this is definitely a contender for pennies, assuming the shell takeover proceeds as understood. Short term I can see a lot confusion inducing bear raids. We are trending upward, awesome buzz on twitter and msg boards, But iv always felt there are some big boys loading and playing games to fill up on cheap shares. Whether this is institutional investors or the crypto co itself soaking shares of the shell, I do not know.
Take Friday as an example, was trending up to 14s then a 50k sell essentially tanked the whole day. The sell behaved like a market order, but wasnt. It sold into the 11s/12s even though 13s had been selling all day. After that we were 10x11 and there was a TON of accumulation, then Mondays action. Boom (called it on twitter)
Long term, assuming everything goes as understood, pennies.
Short term, going to be setting higher highs and higher lows, but expect many scare tactics as whales dont like buying wholesale from an inflated ask. Easier to take a loss (or smaller profit) seling 50k all at once under bid then load 100k+ cheap shares to sell on the way back up, Than it is to accumulate off the current bid and wait for the natural gains.
Tuesdays action: Take with a grain of salt, I predict the morning to trend up, enticing new buyers. maybe top off near .002 (probably a hair higher than last week) then another sell off to take place. closing at 13bidx15ask. This is still looking great for rmrk, but will scare off many flippers. Name of the game seems to be whales acquiring shares at bottom barrel prices while everyone doubts the transaction. Until it is confirmed.
JMO GLTA
Take Friday as an example, was trending up to 14s then a 50k sell essentially tanked the whole day. The sell behaved like a market order, but wasnt. It sold into the 11s/12s even though 13s had been selling all day. After that we were 10x11 and there was a TON of accumulation, then Mondays action. Boom (called it on twitter)
Long term, assuming everything goes as understood, pennies.
Short term, going to be setting higher highs and higher lows, but expect many scare tactics as whales dont like buying wholesale from an inflated ask. Easier to take a loss (or smaller profit) seling 50k all at once under bid then load 100k+ cheap shares to sell on the way back up, Than it is to accumulate off the current bid and wait for the natural gains.
Tuesdays action: Take with a grain of salt, I predict the morning to trend up, enticing new buyers. maybe top off near .002 (probably a hair higher than last week) then another sell off to take place. closing at 13bidx15ask. This is still looking great for rmrk, but will scare off many flippers. Name of the game seems to be whales acquiring shares at bottom barrel prices while everyone doubts the transaction. Until it is confirmed.
JMO GLTA
