I’ve never seen a percentage increase like 7268%.
A Wall Street banker would laugh in your face if you said that you knew of gains like this. It’s impossible. Yet I have a picture at the top of this post that proves otherwise.
When I posted yesterday, the price was shooting up (3600 satoshi right up to 5000). Every 15 minutes needed an update until I reached the point of giving up!
There has been some stability in the market, for now. We’ll see if there’s another 1am excitement from the POTcoin pump crew!
As of this post, the coin has been in the 5000-5500 satoshi range for the last few hours. I see this as an indicator of great excitement and readiness for more. However, this could quickly turn to fear and selling – if it appears that new fresh money moving into the market has been exhausted. That’s why I don’t day trade these coins.
Someone dumped earlier today at the peak of 6995 Satoshi, down to 3600, and made around 150-300 BTC according to the Poloniex Trollbox (estimates vary wildly, but fall in this range). The excited and greedy market immediately pushed the price back up to 5000.
For day traders, this volatility is extremely exciting. I’ll be honest, there were moments where I wanted to get in on the action myself.
Fortunately, for myself and for my readers, my strategy is a little better then the day-to-day gambling of most traders. Over time I make more money, even if I missed out on the crazy POT gains. One bitcoin into potcoin at (the reasonable price of) 300 satoshi, with sells staggered 6000-7000 satoshi, would have net you around 21BTC!
I’m a little jealous of those with the insight/foresight/crystal ball to know that Potcoin would reach 7000. Either way, I hope we all made money off of what was a clear pump. Those who did it right – bought low for a few months and sold with a level head over the last few days – are the ones who made the most money.
In a future post I will discuss how I was able to identify that potcoin was in accumulation mode. In addition, I will be discussing a few new coins to focus the money we made from the last few days. Watch out for CANN (Cannabiscoin)! Spillover from the POT pump might be bringing us gains sooner than we thought!
Will the whales stay with POT and make more money, or have they moved on to the next great rise? (leave a comment below telling me what you think! 🙂