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clock Created with Sketch. 12/12/17
18:10
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Originally posted by SamMichael
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Disappointed but not surprised that the market dropped this far from 30c. Many people seem unsure of what DCC are doing as Market makers, they are not just trading crypto, they also using using arbitrage to profit mismatched bids and also providing liquidity - they are priming themselves to profit from the active trading of crypto assets regardless of the direction of price movements. There is serious volatility in crypto assets, and if you have ever traded on multiple exchanges you can be sure their is plenty of oppurtunities for arbitrage if you are a MM - great for the company to protect themselves from large price swings. But really, what people should be most excited about is the Huge profits they are making as announced today. They recieved a 4M investment in BTC, now they have more than that as cash in the bank while still maintaining their holdings of $14M in crypto. And this doesn't even include the recent ICO payouts (other than power and fuel) they have been contracted to recieve..... I am definitely impressed, I bought more at 27c knowing their was a strong chance of a sell of like with OOK yesterday, because I still think that's damn cheap - it's time to periodically accumlate if this sell down continues (which it probs will) because the days of DCC being microcap are seriously limited IMO.
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It seems to me that with any small company trading well and growing at a rapid rate, it is the "know it all" day traders tipping a capital raising. They are obviously trying to ditch the price. This they did today so let us hope an equally powerful opposite trend will emerge tomorrow. Good luck to all holders. Don't go short you will lose your socks!
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