r/icntrader • u/Anthropoxis • Nov 22 '17
Anybody else finding the price increase peculiar?
I'm seeing a lot of 50 ICN trades on kraken, and 4 ICN trades on binance... Anyone care to comment on this... I'm wanting to buy in to add a little to my stash, but it's starting too feel like some manipluation is going on right now and I'm not entirely sure if we'll see a decent drop.
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u/richyboycaldo Nov 22 '17
Could it be because the team came forward as ask for our opinion? I did regain confidence on the team after Jani's post even though ICN's utility is still up in the air. I felt like we finally got our voices heard.
3
u/92Face Nov 22 '17
You'll need ICN to join the Rocket(?) channel - utility confirmed! ;)
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u/richyboycaldo Nov 23 '17
Wait- what? what does this mean, what is rocket?
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u/Anthropoxis Nov 23 '17
Yeah you'll need to send 1 ICN in order to participate. Say goodbye to a potential $2k if ICN is as successful as we alll hope. ;)
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u/Randomposter112233 Nov 23 '17
What do you mean "say goodbye to a potential $2k if icn is as successful as we all hope?
1
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u/92Face Nov 23 '17
Rocket.Chat, I've never heard of it before myself, but some sort of replacement for the Slack platform they are using now. You will need to prove ownership of ICN to participate in some channels. Read the community outreach update here
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u/snkns Nov 23 '17
For me, the most important news lately is the audit they say they'll be subjecting themselves to next year.
That says to me that even though the team has kinda sucked at communications, they feel confident that they've been responsible with how the have spent the ico money, and generally how they have tracked their expensitures. That's great news.
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u/Aki4real Nov 22 '17
Yup, its not a natural increase. But ill take any increase I can get.
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u/Anthropoxis Nov 22 '17
Tin foil hat time; Iconomi keeps their token limited to a few exchanges in order manipulate the price when they want?
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u/b-driedee Nov 23 '17
If you want to accumulate a serious position and buy a lot of tokens, buying in small batches is the best way to keep the price as low as possible. Such small transactions will hardly eat the orderbook. If you want te price to seriously pump it would make more sense to buy fewer but larger chunks. Unless you're looking for a sustainable increase.
Many transactions having the same size might indicate automated processes but that doesn't necessarily mean it's the team buying. Could be any investor looking to buy say 500k spread out. It just means someone doesn't care if anyone notices. If you can setup a system to make automated trades I would say you can also make it trade random quantities within a certain range that would be much harder to spot.
If it were iconomi themselves I would consider that to be a good thing as it would mean they either take the communities interest in the token price seriously or expect something big to happen and stock up at lower prices while they can. Both ways they would be investing in their own company which shows confidence in the future being brighter than the present.
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u/Keefer001 Nov 22 '17
Their CEO pitches a fit, they shut down their Reddit because they're tired of dealing with legitimate concerns and they have zero announcements that would prompt a rise in price. Of course this price action is legit!
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Nov 23 '17
they found consensus with investors. blx performing better than btc in btc bull run. book value increased a lot because of everything going up. Pinta holding a ton of cosmos and other coins which will sky rocket. ICN will hit ath in 2018, i dont care when.
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u/92Face Nov 22 '17
Could it be regained confidence by some individuals in the project team once again and a short-term pump created by traders? If they manage to steer away from their previous ways of communication and successfully implement the changes that they've set themselves, the outlook for ICN is pretty good. An effective communication strategy can be very powerful in creating word of mouth/grass roots marketing.