DCC was a profitable pump and dump trade for traders who used appropriate position sizing, trend entry and exit. 33 cents was the trailing ATR stop loss / profit take point on my charts. Conversely, for bag holders who payed top dollar above ~ 30 cents, they are providing liquidity for other traders to sell into.
As of today, DCC closed below the 200-day moving average for the first time since Aug 24, 2017.
U.S. Nasdaq contemporary, OSTK, after reaching $89.80 on Jan 8, 2018, last night closed 57.77% lower at $37.92.
Note the abstract excerpt from the following academic paper [1]:
"Bitcoin draws out risk-seeking individuals. The exchange rate is volatile; many businesses built on top of it are speculative in nature; the currency is pseudoanonymous and distributed. Consequently, it is perhaps unsurprising that many Bitcoin users have taken to Ponzi schemes (and Ponzi scheme runners to Bitcoin)."
1. https://fc18.ifca.ai/bitcoin/papers/bitcoin18-final11.pdf
Bitcoin headed to $100,000.00?, page-99
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