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RE: This pump is different.
I've been seeing people talk about this buying strategy and I still don't fully grasp it yet.
Something about manipulating daily candles and doing the buying and selling on the cusps.
It's quite true that Hive usually sees much deeper pullbacks than what we are getting.
Although a money attack is the last thing on my mind.
It's always some OG player who got a big win on one of their other bags.
0.00047676 BEE
This was also on my mind, some degen pulling in their PEPE bags.
Spear fishing is about accumulation, normally does not press this hard. You "spear" up into the liquidity, but then "give up" and put in a big buy order back where you started or a bit higher.
A few days (hours) later, you spear again - giving plenty of time for arbs and noobs to quick dump their hive (thus providing more liquidity for your next spear).
One thing I've learned about Hive is that you can create this spearfishing affect just by taking coins off the market with a single limit order. When Yabapmatt became a whale after the conversation we had in person a while back...
https://peakd.com/hive-167922/@edicted/i-m-kind-of-a-big-deal-yabapmatt-scoops-275k-hive-instant-whale-status
I basically accused him of placing a huge market order and pumping the price.
He got back to me and told me it was just a limit order at the current price.
So what ends up happening is that if one person buys a bunch of coins and removes them from the market permanently... the market making bots will quickly realized that these coins are no longer in play and they automatically push the price up.
There's a big difference between a market maker buying coins low with the intention of selling them slightly higher and a holder buying coins and removing them permanently from the trading pool. Hive already has very low liquidity so if a holder takes liquidity away from a bot it freaks out and changes strategy... or rather buys coins to get the liquidity back: pushing up the price fast.
Hive is weird like this it's hard to say what's actually happening.
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