"If this gives enough momentum for BLURT to reach the same price levels as HIVE or STEEM, his gains would be 16 times his initial investment."
If the price starts to increase there'll be so many people selling that it'll push the price back down. If it was that easy to increase your initial investment 10-15 times someone would've already done it. :))
In a previous post on my account, I explained that the total circulating supply of BLURT (after excluding accounts that have never logged in) is approximately 236,393,210.061 BLURT. The 6,864,830 BLURT at 0.012 USD represents about 2.9% of this supply, which is significant enough to absorb a large portion of the sellers looking to dump their tokens. Currently, the total buy orders on both exchanges amount to only 4,430,607.808 BLURT, which is far below the 10,213,087.27 BLURT the investor is looking to acquire. This disparity highlights the potential impact such a buy order could have on the price, especially given the current liquidity.
It's also important to note that during the period from October 2021 to June 2022, the price of BLURT was well above 0.012 USD, sometimes significantly so. Many holders who bought during that period would likely be unwilling to sell at such a loss (50% or more), unless they've managed to lower their average cost (PMUP) by making substantial purchases at lower prices since then. This factor reduces the probability of large amounts of BLURT being sold at rock-bottom prices.
Of course, a single buy order alone is not enough to sustain the price long term. It needs to be accompanied by strong external communication, emphasizing "work in progress," "proof of concepts," and any initiatives that can demonstrate that the Blurt blockchain is active and evolving.
@outofthematrix I think this comment might interest you too ;)
Thank you so much for this interesting additional information dear @nalexadre! ❤️🙏🏽 It is very much appreciated. 🤗