I am writing this today with purpose on helping showcase newer investors some of the basic analysis of crypto market patterns and how profit taking and market forces affect the prices of coins.
I will start my example off by showing a chart that I expect many have not seen of PundiX.
This chart shows a converted NPXS to PundiX value in KRW.
Upbit was the largest volume supplier to NPXS in the beginning of the year and we saw the largest gains coming from the korean market before the final blow off top just before the token redenomination swap.
It is easy to see that the largest “whales” in the NPXS ecosystem, the Koreans, are still seeing a healthy gain even with the painful last few weeks. Many have decided to take profits along the way down with I assume the goal of reacquiring more for the next leg up to a new All time high.
For the next step of my discussion I would like to introduce another Similar market performance chart in Bit Torrent Token.
What do we see here? A huge blow off top and a marked curving shape with the recent slash downward due to BTC dipping being the local bottom.
Now my question for the new investors is.
What are some potential market formation patterns that can happen with this type of movement?
I would encourage those that are willing to go research a few different concepts
An Ascending Scallop Formation
A “Blow off Top”
A Reaccumulating phase
A Cup and handle pattern
I look forward to future discussions to help newer crypto investors understand the phases of our highly volatile market so that they might learn how to best take advantage of the future.
As a trader; Ill add my thoughts as an overall Market ;
We have been in Tax season for essentially; The last bull run was crazy; The proffits made by some of the whales was astronomical!!! This is the largest contribution to the market downturn; Pure taxation planning;
If we follow the patterns from 2017, we will see that we have retraced already what took multiple years previously; To me this is showing a HEALTHY market; DCA DCA!! It will all come good;
To me the best way to describe the current economic climate is to compare to the VHS Beta war; This is Crypto V Fiat;
All of us know that in Crypto we are VHS we just need to get rid of the last remaining BETA supporters!! The war isnt won just yet; But the battles are getitng shorter and we are getting stronger; We know this is the way!!! PUNDI Is here to stay….
*This is not financial advice, just my irrelevant opinion, Please as always DYOR
Any info regarding why liquidities are that low (never been so low since the launch ~130k$) over MarginX DEX ? (note : this started long before the hack)
Liquidity on MarginX is supplied entirely by token holders, so the DEX cannot control the volume
Market conditions and price action may have reduced on-chain activity
LPs could be rotating to pools with higher APR or short-term incentives
Focus on the Data Pump launch on BNB Chain and talk of a move to Ethereum may have shifted attention and funds
Security concerns after the exploit, even if the decline started earlier, may keep some providers cautious
MarginX is reviewing several business options in line with decisions being made for the Pundi ecosystem. As the discussion is still ongoing, we have no further comment for now.
