Wall Observer - The PPC Speculation Thread

[whifmoi]

It's not necessarily one big player. I believe there have been many strategic players in the past, and there are not enough free coins now. Small and medium players can make this rise now.

[d5000]

New large buys at BTC-E collapsed the 0.002 BTC/PPC wall. PPC is now at 0.00214 at BTC-E, briefly touched 0.0022. PPC is now 30 USD-cents worth, like it was for most time in the bubble in April.

Very interesting is the bid/ask ratio which is pretty similar to that of LTC, although LTC has nearly 10 times the per-unit value than PPC.

PPC:

Ask: 541895.75 PPC / Bid: 1159.81 BTC

LTC:

Ask: 532733.44 LTC / Bid: 1417.63 BTC

Now: Is this a bubble / pump&dump or the long awaited upside correction? I think that long-term it will go up further, but for now possibly the rally is overheating a bit. Stay careful.

[Alertness]

Half of the PPC available for sale on BTC-E have been bought up in the last week, I'm surprised the price hasn't skyrocketed up even further.  In the last week, Sell orders dropped by about half, and Buy orders have more than tripped.

Btc-e is currently the main market maker for ppc, so basically half of the entire market for ppc was just bought up this weekend.

And since Sell orders are down, it means those coins that were bought up are not showing back up for sale again.

It could drop back down again like in the past, but I think this time it's different. PPC is beginning to establish itself, development is actively underway, people understand the coin better, therefore I believe this isn't your typical pump and dump, but is making an organic rise up from strategic investors, and people who have more solid belief in the coin overall. PPC should continue to gain momentum as time goes on, as people realize it actually has true value and benefits over and above BTC & LTC. I would not be surprised if PPC continues to rise. It strikes me as a similar comparison to where Bitcoin was in 2011-2012. We could see a spike to as high as $3.00 usd, then later a spike to $30.00 usd, just like Bitcoin did.

[calian]

I want to see more utility for ppcoin. Right now you can mostly use it to tip people. I want the equivalent of Bitmit, Gyft, Bitcoin ATM, etc. to support it.

[d5000]

^^ Fully agree.

By the way, PPC was the only one of the larger coins not affected by the "Silk Road crash". See http://coinmarketcap.com.

What is strange that Litecoin did even worse than bitcoin. In the past it used to be the main "hedge altcoin" against BTC crashes.

[d5000]

Very bullish day today. PPC got near the record high of 0.0035 from April. But there is harsh resistance at this price level

What is very interesting is that the ask volume is drying out. At BTC-E there are only 180.000 to 250.000 PPC left. The bid/ask level is now much more favorable than that of LTC.

Can PPC healthily stabilize on this price level or will it be more like a rollercoaster?

[Alertness]

PPC has been gaining about .0005/BTC per day pretty steadily on high volume. If PPC breaks .004/BTC it could easily go to over .01/BTC. PPC is testing the market right now, before going onto new all-time highs. Some have been claiming it is being pumped and manipulated, but if you study the volume, it is broken up very randomly, so it could actually be more of an genuine growth than some people realize. PPC may actually be nearing escape velocity. From a micro-transaction standpoint, PPC is still valuable over $3/USD...possibly as high as $30/USD to be comparable with the transaction fees of Braintree https://www.braintreepayments.com/

[d5000]

Now it's official: PPC has reached a new all-time-high at 0.043!¹

Obviously, now many people are taking profits and so the price has decreased a little bit. That's completely normal. The important thing is that the resistance at 0.0035 was broken.

I think it will stabilize now at 0.0025-0.003 and then go up again, when the conditions (new client etc.) are there.

¹Last "real" ATH was 0.0035 and about 0.50 USD. I am not counting the mini-bubble at the start of PPC at BTC-E which drove price above 0.01 there, because it was only for a very short period and not reflected at the other exchanges.

[d5000]

More: Last 24 h  6051 BTC were traded for PPC at BTC-E. This is more than 700000 USD and half the volume of MtGox BTC/USD!

See http://cryptocoincharts.info - PPC/USD was the second trading pair after BTC/USD.

[Alertness]

Look at the volume.

More BTC traded for PPC on BTC-e than BTC traded for USD on Mt.Gox or Bitstamp and BTC-e combined

[Alertness]

Blue line = Possible new resistance level?

Green line = Looks like prior resistance level has been blown.

Red line = Estimated strong support level.

Could the green line be emerging as the new support level?

[d5000]

I think the green line goes up too fast. We had a little correction now, but I think price must stabilize (I think about 0.003 BTC / 0,40 USD) before a new price spike.

What surprises me is the insanely high bid sum at BTC-E (Total: 12315.82 BTC). I don't know if this is a bug of the website, as it's about 10 times the "normal" level in this rally and I don't see that sums at the order book. Is there a possibilty to view the whole order book of BTC-E?

[coolbeans94]

Agreed. Price spiked so high so fast, it had to come down. - But, it is starting to look more reasonable now. PPC is going to go up, but it's not going to go up 15% per day, every day!



Right now I think we are starting to get to "panic/capitulation" you can tell by monitoring the troll box at BTC-e

BTW: Isn't this number already past the debt limit?

 ...You just realized how much the American people (and the world) are really getting played.

Just a bunch of actors.


2Timothy 3:12-15  "Yea, and all that will live godly in Christ Jesus shall suffer persecution. But evil men and seducers shall wax worse and worse, deceiving, and being deceived. But continue thou in the things which thou hast learned and hast been assured of, knowing of whom thou hast learned them; And that from a child thou hast known the holy scriptures, which are able to make thee wise unto salvation through faith which is in Christ Jesus."

[Alertness]

We are now at the convergence of both an uptrend and a downtrend. Downtrend momentum seems to be petering out, volume is still healthy. I'm going to go out on a limb here and speculate the price to either stabilize here, or go up. I don't believe the downtrend has much more steam. Also impressive is that in the last day BTC has been increasing relative to USD, and PPC is holding up.  Now let's look at the order book:




Order book looks like it is healthy with plenty of diversified buy orders. I'm thinking it's almost time to start pumping up again!    (Shhh... I'm planning to buy in a few hours)   


BTC-e troll box has been relatively quiet about PPC lately: Looks like we may have finally reached "despondence".