FOMO and/or bitfinex pumping up the price with made up tethers. The first IOTA run back in August also came out of the blue and fizzled out quickly. Don't underestimate bitfinex manipulation.
I seriously doubt bitfinex has the capital to manipulate IOTA from a market cap position of 8th place to 4th place. It takes serious serious cash flow to make that market cap change.
Gah! I bought some on Bitfinex, tried to move it to IOTA wallet when they announced their intention to stop serving US customers, had trouble setting up wallet so sold it all at $1.25 or so. Dang it! But, I did convert it to BTS, so there's that silver lining
It might come faster than you think. One of the reasons the price has gone up so fast without correction is that a lot of users with large amounts of IOTA in their wallets have a hard time sending their tokens to exchanges due to Pending transactions or delay on the exchange side. A lot of users also had their IOTA tokens confiscated by the IOTA foundation after the last snapshot in October due to the possibility of their private seeds having been compromised. The IOTA team has promised to start returning these tokens to their owners next week. I expect a massive correction to the price once all these tokens are back in circulation.
Good luck with that! ;-)
This is fomo talking! Proof: BCH pump!
FOMO and/or bitfinex pumping up the price with made up tethers. The first IOTA run back in August also came out of the blue and fizzled out quickly. Don't underestimate bitfinex manipulation.
I seriously doubt bitfinex has the capital to manipulate IOTA from a market cap position of 8th place to 4th place. It takes serious serious cash flow to make that market cap change.
Thanks, wave 4!
how are you buying?? isnt it only on binance?
Gah! I bought some on Bitfinex, tried to move it to IOTA wallet when they announced their intention to stop serving US customers, had trouble setting up wallet so sold it all at $1.25 or so. Dang it! But, I did convert it to BTS, so there's that silver lining
Bought some
It might come faster than you think. One of the reasons the price has gone up so fast without correction is that a lot of users with large amounts of IOTA in their wallets have a hard time sending their tokens to exchanges due to Pending transactions or delay on the exchange side. A lot of users also had their IOTA tokens confiscated by the IOTA foundation after the last snapshot in October due to the possibility of their private seeds having been compromised. The IOTA team has promised to start returning these tokens to their owners next week. I expect a massive correction to the price once all these tokens are back in circulation.