DOGE: A familiar friend
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Let's take a look at an established old friend of mine,
DOGEBTC.
The obvious information is on the chart. Big pump in June this year, bleeding dry since then, having lost over 86% to this point. But there is a bit more to it than this.
Only a few coins have such a nice market memory as DOGE. Let's look into a few stats here.
The market throughout the years:
NOTE: The lines are pointing towards the highest daily close during the pump
As you can see DOGE reliably was pumped once every year, resulting in a 124% - 811% increase. (excluding spikes)
After every pump DOGE was left to bleed out over an extensive time frame, as we know from the usual P&D scheme. Interestingly enough, the lower it went, the higher it got pumped.
For quite a few weeks now DOGE has been stabilizing in the 20 - 30 sat area. With the upcoming Bitcoin forks and the anticipation to it, we may see it go below 20 in the coming days to weeks.
Personally I placed my buy orders at 18, 15 and a very optimistic larger order at 11 sat, if it doesn't hit the target prices by the hardfork dates, I will readjust my position.
As we come close to the end of 2017, the next pump may be just right ahead.
That being said, DOGE could as well be a longer hold over several months.
So what leads me to buy it aside of the named aspects? Let's take a look at the volume on Bittrex:
The trade volume exceeded every prior point by far, the buy volume especially when hitting the price below 20 sats, this massive buy volume is rather interesting.
On another note, the general novice trader, caught up in his ICO-goldrush and longing for always new coins to invest in long forgot about the eternal DOGE, that is until it starts pumping again.
Accumulation of coins is best done in a quiet market, you don't want to buy into a hyped market. My best and most profitable "investments" always were in coins that were either believed dead (while displaying healthy volume) or coins that were called a scam and written off, but that also sometimes meant that the time to build up new hype and the market to explode again is sometimes a long one (as in DOGE), patience is key. That being said, don't hold coins that make constant losses, sell them at a loss and seek a better position to buy in the market again. Every percent lost, is less profit when it pumps.
The crypto market is insanely emotional and reactionary. Plan, prepare and execute your moves in quiet waters and leave the market when the hype is at it's peak - it's as simple as it gets.
DOGEBTC.The obvious information is on the chart. Big pump in June this year, bleeding dry since then, having lost over 86% to this point. But there is a bit more to it than this.
Only a few coins have such a nice market memory as DOGE. Let's look into a few stats here.
The market throughout the years:
NOTE: The lines are pointing towards the highest daily close during the pump
As you can see DOGE reliably was pumped once every year, resulting in a 124% - 811% increase. (excluding spikes)
After every pump DOGE was left to bleed out over an extensive time frame, as we know from the usual P&D scheme. Interestingly enough, the lower it went, the higher it got pumped.
For quite a few weeks now DOGE has been stabilizing in the 20 - 30 sat area. With the upcoming Bitcoin forks and the anticipation to it, we may see it go below 20 in the coming days to weeks.
Personally I placed my buy orders at 18, 15 and a very optimistic larger order at 11 sat, if it doesn't hit the target prices by the hardfork dates, I will readjust my position.
As we come close to the end of 2017, the next pump may be just right ahead.
That being said, DOGE could as well be a longer hold over several months.
So what leads me to buy it aside of the named aspects? Let's take a look at the volume on Bittrex:
The trade volume exceeded every prior point by far, the buy volume especially when hitting the price below 20 sats, this massive buy volume is rather interesting.
On another note, the general novice trader, caught up in his ICO-goldrush and longing for always new coins to invest in long forgot about the eternal DOGE, that is until it starts pumping again.
Accumulation of coins is best done in a quiet market, you don't want to buy into a hyped market. My best and most profitable "investments" always were in coins that were either believed dead (while displaying healthy volume) or coins that were called a scam and written off, but that also sometimes meant that the time to build up new hype and the market to explode again is sometimes a long one (as in DOGE), patience is key. That being said, don't hold coins that make constant losses, sell them at a loss and seek a better position to buy in the market again. Every percent lost, is less profit when it pumps.
The crypto market is insanely emotional and reactionary. Plan, prepare and execute your moves in quiet waters and leave the market when the hype is at it's peak - it's as simple as it gets.
Ghi chú
Today DOGE hit it's ATL of 16, which means I filled my DOGE bags a bit more.So far our buy order at 18 and 16 has been filled. 15 and 11 to go.
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