The altcoins have been all over the place on what seems to be a solid market roil, as coins are making vast changes in light of the BTC prices, as well as large whales dumping across the board. Some of the big dumps in recent over the past day have been NAV, RIPPLE, FCT, NAUT, and others as large players try to work pump and dump strategies, leaving traders with their hands in the air and heads in the sand.
It is not looking very good out there according to some traders who feel they are being bullied into selling short, and playing with emotions, and only many of the seasoned traders are riding the wave as the roil boils through. Everyone seems to be holding their breath on XMR awaiting the GUI release, but the dumps continue, as people are impatient and see XMR as too high after it’s large price climb, while Factom, FCT, achieved it’s highest volume to date, traders were victimized on large selloffs by whales trying to push the price down before it goes back up. FACTOM has recently signed some contracts for data services with Wall Street, so it is no wonder that these type of selloffs are occurring, since they are totally indicative of expert traders trying to drive the price down before large pumps.
NAUT – which is currently trading around 30 cents is awaiting confirmation for the conversion to NAUT, which is signalled as being valued at $2 per coin according to the Nautilus Coin Twitter, which can only mean large gains in the near future as people learn more about the conversion.
You can see the NAUT announcement here:
This may be an option for traders looking to hedge in the short to mid term amidst the roil.
XRP is still a hard one to guess, just like ECT, and other large movers that have been doing millions in volume on a daily basis, but for now, it just seems like an all out spending spree of buying and selling, where traders are making fast moves, and others staying firm without budging.