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!
Interesting analysis.
It does seem like something unusual is happening with HIVE.
Definitely doesn't feel like a typical pump and dump scenario.
It will be interesting to see how this plays out and if there's a bigger agenda behind it.
Thanks for sharing your insights, keeping an eye on this for sure.
!BEER
!BBH
HIVE doesn't feel like a regular altcoin, it seems to behave more on it's own.
Agreed. I mean, it goes up and down. But it doesn't seem to have a peer group as much as the others....
I'm feeling very bullish for HIVE this bull run. I think we could reach new all time high Marketcap.
Me too!
Hive now $0.43 , wait for the time when Hive reaches the moon. Amazing crypto pumping running now
I've been seeing people talk about this buying strategy and I still don't fully grasp it yet.
Something about manipulating daily candles and doing the buying and selling on the cusps.
It's quite true that Hive usually sees much deeper pullbacks than what we are getting.
Although a money attack is the last thing on my mind.
It's always some OG player who got a big win on one of their other bags.
This was also on my mind, some degen pulling in their PEPE bags.
Spear fishing is about accumulation, normally does not press this hard. You "spear" up into the liquidity, but then "give up" and put in a big buy order back where you started or a bit higher.
A few days (hours) later, you spear again - giving plenty of time for arbs and noobs to quick dump their hive (thus providing more liquidity for your next spear).
One thing I've learned about Hive is that you can create this spearfishing affect just by taking coins off the market with a single limit order. When Yabapmatt became a whale after the conversation we had in person a while back...
https://peakd.com/hive-167922/@edicted/i-m-kind-of-a-big-deal-yabapmatt-scoops-275k-hive-instant-whale-status
I basically accused him of placing a huge market order and pumping the price.
He got back to me and told me it was just a limit order at the current price.
So what ends up happening is that if one person buys a bunch of coins and removes them from the market permanently... the market making bots will quickly realized that these coins are no longer in play and they automatically push the price up.
There's a big difference between a market maker buying coins low with the intention of selling them slightly higher and a holder buying coins and removing them permanently from the trading pool. Hive already has very low liquidity so if a holder takes liquidity away from a bot it freaks out and changes strategy... or rather buys coins to get the liquidity back: pushing up the price fast.
Hive is weird like this it's hard to say what's actually happening.
oh shit that bot trying to get its liquidity back is really interesting and synaptic connections to clayboyn trying to get SPS listed and paying "market makers" to "make markets".
The entire business model of a market maker is to provide liquidity in the moment to anyone who doesn't want to wait around (which is basically 99% of the population). So all the small fish pay a tiny premium to the market maker in exchange for instant service.
It's when the market makers start trading with each other that things can get weird.
yeah it's a very crazy ripple affect when you buy up a bot's liquidity and it has to figure out what to do.
A bull trap in crypto (or other financial markets) is a false signal that indicates a reversal in a downward trend, leading traders to believe that the asset’s price is about to rise significantly. However, after a brief upward movement, the price resumes its downward trajectory, trapping those who bought in anticipation of a sustained rally.
credit
Characteristics of a Bull Trap:
1. Price Breaks Resistance: The asset’s price temporarily moves above a resistance level or shows bullish indicators, luring traders into buying.
2. Volume Spike: There’s often a surge in trading volume, reinforcing the illusion of a breakout.
3. Reversal: After the initial rally, the price sharply reverses and continues to decline, often breaking through prior support levels.
4. Trader Losses: Traders who entered long positions during the false breakout are left with losses as the price drops.
am I confusing the idea with something bear related then?
Oh shit lol I have no idea! I wasn’t trying to correct anything you said, I just wondered what that was, so then I googled it, and then I figured I’d put it in the comments in case anyone else wanted to know what a bull trap was..I think the way you used it made perfect sense :)
Hmmm. Yes, well ... Maybe it is different. However, a day later, it sure "looks" like most of my experience with HIVE. BTC drops a few %. HIVE, in response, drops ?...? X % ...
We'll see, if BTC rebounds, whether we see anything like a similar rebound with HIVE. If history is any indication, I'll just say I would not suggest one holds their breath in anticipation of that ...
It was very different! Not necessarily that it will end different. 😅
But if you rushed off to dump at 36 cents the first night, you might have been having a bad few days. It seems if you had done nothing (traders struggle with this), everything would have worked out.
My position is closed now, around about +20% hive on what was deployed. Until next time!
By the way, great to see you rob!
🌄Good morning! ☕
Okay. You have a lot more experience than me, so ... I'll take your word for it. All I know, as I begin my day, the price of HIVE is way down. It will be notable, if the day ever arrives when it not only goes way up, but stays there. Or anywhere close ...
Thank you kindly! I am still around. Still read through my feed. And ... Occasionally, write a POL comment ... 😉👋
My grandpa used to go spearfishing too. He did not have safety gears back then and my mother was always worried whenever grandpa went spearfishing. The catch he would sell to local buyers who wanted to buy it cheaper almost to the point of taking the fish for free. My mother would fume and would tell the buyers that my grandpa was staking his life foe the catch.
Keep safe always !BBH !LOLZ
lolztoken.com
Mediocrates
Credit: reddit
@ecoinstant, I sent you an $LOLZ on behalf of day1001
(2/8)
we have the same middleman in our local market. their only risk is to drive to the big city and sell for more money.
Hive, hopefully would remove the middleman soon. All the best !BBH
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View or trade
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Its down now!
My point was not that it would never fall, but that it was behaving differently. In three days we will know more.
In fact, unlike previous pumps, there were several distinct traps, maybe ~5, I myself got caught out at 36 cents at first.