Last night as ARK began to recover a Sell Wall was placed to force the price back down, as has been done numerous times over the past few weeks. I've captured one section of the Sell Wall in the Bittrex Order Book and have highlighted where in chart the sell wall occurred so that others can see the effects of this manipulation. I've also highlighted a previous Sell Wall reaction, though I did not capture that sell wall in the Order Book at the time.
Photo of Sell Wall on Bittrex: i.imgur.com/LcZ2M2S.png
Once the climb began, a "whale" put down 26k ARK up for sale in the form of a Sell Wall, effectively staunching growth. The price of continued growth would be, in this Sell Wall's case, 14 BTC, or ~75,000 USD. As of now, the 24 hour volume on Bittrex is at 302 BTC, meaning this sell wall being taken down would have been attributed to nearly 5% (~4.7%) of the daily volume. Thus, a large investor is seen to be holding the price down, presumably to accumulate more themselves before they allow a "moon mission", as is typically the case with ARK, historically.
One last note: this sell wall is small, I have seen two whales come together on Bittrex and force a 100+ BTC wall when we were nearer to 60k Satoshis.
Photo of Sell Wall on Bittrex: i.imgur.com/LcZ2M2S.png
Once the climb began, a "whale" put down 26k ARK up for sale in the form of a Sell Wall, effectively staunching growth. The price of continued growth would be, in this Sell Wall's case, 14 BTC, or ~75,000 USD. As of now, the 24 hour volume on Bittrex is at 302 BTC, meaning this sell wall being taken down would have been attributed to nearly 5% (~4.7%) of the daily volume. Thus, a large investor is seen to be holding the price down, presumably to accumulate more themselves before they allow a "moon mission", as is typically the case with ARK, historically.
One last note: this sell wall is small, I have seen two whales come together on Bittrex and force a 100+ BTC wall when we were nearer to 60k Satoshis.
Comment:
Let me quickly note that the daily volume referenced above is just on Bittrex and not the overall volume for ARK. Bittrex does have the largest segment of the daily volume of ARK, comprising about 95%+ of the volume each day.