Chia up 31% as of right now

Why has Chia price taken a big jump today all of a sudden?

I’m guessing it has to do with Gene and David Frazee speaking the Bloomberg Financial Innovation Summit tomorrow.

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Can’t find a single news item that can explain it. lets hope it continues and sticks

I already placed 3 sell orders. Will I be lucky enough to sell in a super spike?

:smiley:

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Really? I can 100% guarantee that you will look back at this comment and feel embarrassed in about 2 years. This is nothing. I still think it will drop to $100 per, but will ultimately climb dramatically by the thousands.

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That’s why a said super super spike (Like a whale buying without enough chia in the market…)! A lucky shot or crying in the corner. Chia is a long investment for sure and I’m full on it, but collecting some pennys during the journey.

After i will re buy, chia is a great project for sure

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I will continue to do my regular purchases as long as it is under $500. After that, I will just continue to let my farm do the earning.

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But be careful, you may get off the board like that, never know when its gonna moonshot

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Pretty sudden rise…

Only thing I can think of is that plenty of people might have been waiting for rock bottom and then when it starts to go up they all start buying, after that people see the rise and get on board?

Coincidence that Best Buy just started selling $200 14tb drives? Dons tinfoil:rofl:

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glad you pointed that out. I went directly to their website and bought one… This will put me at 108 TB…

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I believe you are right that XCH will be higher 2 years from now. Possibly even significantly – although I doubt it will explode and moon like the hypecoins. If it does, it won’t be taken seriously by the institutions we want to get involved.

But @Nitsuga thinks like a trader: Most people new to the markets only learn “buy the dip”, they never learn the other half of that strategy: “sell the rally”. That’s what Nitsuga does.

Traders who buy the dip often lose over and over unless they can spot a good bottom. We call it dollar cost averaging to make it sound more palatable. But if they don’t also sell the rallies, they tend to have more (and/or bigger) losing trades than winning ones.

Why would you ever sell if you think it might go higher? (1) To lock in some profits, (2) if you think the rally has run its course and there will be a second chance to buy lower.

IOW you’re both right (I hope!) just different perspectives and timeframes.

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How do you know the price will drop :laughing:

I wish people would stop commenting hour by hour on the price of Chia so much. I don’t see the point.

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Certainly. Obviously nobody really knows for sure.

But we do know that prices of financial assets tend to move in swings AND to swing in volatility level as well. The latter is more certain than the former. Those who believe their analysis is good enough, may want to bet on it.

Now, the players who “almost know” are the ones who are big enough to move markets. Their biggest concern is NOT predicting price moves (since they can cause them) but rather loading or unloading inventory WITHOUT moving price. Moving price is the job of small traders who buy or sell on impulse or fear, often using market orders rather than limit orders.

If you can spot and follow those big players, you have a good shot a profitable trade.

Blindly buying dips and selling rallies CAN be profitable, but certainly is no guarantee. However buying on dips to levels where those big players buy, and selling on rallies into levels where the big players sell… now you’re on to something!

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That was my lesson learned during this first year in this world, didnt sell in the right moment, however, im trying to change the strategy and collect some USDT/BTC.

The main problem with my strategy is if get listed in coinbase/binance/ipo soon hahahaha but… nobody knows.

I hear you!

Of course the question is always when that right moment is. This time you may sell and learn you should have held on. There are no absolutes in trading, only probabilities.

I might suggest holding for another $30 or so, particularly if we can break today’s high. Check my post here for some potential pullback levels and targets.

I don’t know more than anybody else about listings, IPOs or other news. In fact I probably know less. I just do charts, that’s all :grin:

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I read your post, nice info! Its important to know about charts hahahahaha and if you have info… better!

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whos commenting hour by hour?? There was an unusual price jump, worth discussion.

lost 50% of yesterday`s rally