I am basically basing this idea on the Ignis Airdrop to NXT holders. I feel like it is a very similar set up, see the NXT chart below in the comments, and set your buys and sells accordingly. I have no idea about how high this will go, but there was about 1B NXT circulating at the time of the fork and only 3.3M ZCL circulating (ref: Coinmarketcap.com). At this point i dont know if BTCP is going to be listed on Bittrex, but it would make sense considering the hype behind this and that they control 80% of the volume on ZCL. Also, the "Bitcoin Private" marketing seems to be a little more superfluous than Ignis was. Note the line on Feb 24th; the dump of NXT began 4 days before the snapshot and I anticipate something similar here. might be good to sell about 4-5 days prior lock in a good short price and then buy back in just before the fork... assuming it dumps like NXT.
Obviously not investment advice. I am interested to see how this project works out and interested to see how similar this plays out to the previous NXT pump. Good luck trading!
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The NXT chart shows similar patterns to what we are seeing right now with Zclassic. No announcement from Bittrex yet... fingers crossed.
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On track and preparing for moon launch... Waiting on you 'trex!
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For reference: (bit)Trex announcement of Ignis Airdrop support was 4 days before peak, 8 days before the Airdrop .
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Still on target.
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STOCH RSI bottomed out and starting to curl upward. Almost time for the next spike.
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support.bittrex.com/hc/en-us/sections/203283828-Information All eyes on this ^ This is the day Bittrex announced ignis support (Dec 20th for the Dec 28th airdrop). Here we are Feb 20th awaiting a Feb 28th "airdrop" *Fingers Crossed* the chart patterns still look similar.
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Damn... well only a couple more hours in the work day and still no ann... guess trex is not adding it afterall.
can you explain why the dump was 4 days before snapshot ? i should expect that traders wanted to get more NXT when the fork was about to happen
Brodie_MT
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@ronajon, I cant explain with certainty, only speculate. Typically a market maker accumulates an asset at a low price when no one is buying it, in the case of NXT, probably end of november, early december. Once they control a large portion of the supply, the market hype comes i.e. IGNIS announcement. At this point, they have control of the market can suppress the price with their large supply (sell walls) or continue to push the price up/accumulate (buy walls). The problem for a market maker at this point is that in order for them to make a profit, there needs to be a significant amount of market liquidity for them to exit their large position. The maximum liquidity in a pump comes before an announcement, when people who are late to the game see the price going up and assume (wrongly in many cases) that the price will continue to rise until the event (an airdrop in NXT's case). They arent looking at what the resulting asset is worth or will be worth, they are looking for an opportunity to use this event for profit. This is more simply explained as "buy the rumor, sell the news."
adiver
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Nice one... possibly not in a bear market anymore...
0.0172 now seems to be acting as support... soon to moon (0.04 to 0.07 btc) once Bittrex announces their support of the fork.
Brodie_MT
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@adiver, those targets seem high to me, it was at 0.00025 less than a month ago. We have seen a ton of growth already, but one can hope! I don't think there was nearly as much hype for IGNIS (or maybe I wasn't paying close enough attention).
adiver
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@Brodie_MT, let's see what happens, you might be surprised :)
@Brodie_MT, ZCl price was way undervalued before BTCP fork annoucement & should at least match Zcash price before fork, that is x3 from now.
Brodie_MT
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@adiver, either way the pump isn't over yet and it will be exciting to watch it play out.
zman0225
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lets be more optimistic about that, NXT 400% not 200% ;) However, given that we're in a bear market and the unit price is higher 200% is very good. Once Binance and Bittrex confirms... oh man...
Brodie_MT
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@zman0225, I want to be more optimistic about the price, but look where it came from before the ann.