About 2 days ago, I made a post stating the price of Blurt which recently dipped due to the dumping of blurt accounts who doesn't want to take part in the network. That's ok. In fact, I expected them to have done it in the first 3-4 months after the launch of Blurt. Although many have dumped during the early months, it seems that there are accounts that just recently discovered about their airdropped tokens.
I learned about this in some of the posts & chat that I read. At first, it sounds alarming because it would greatly affect the price of Blurt. However, I took it as an opportunity to scoop more tokens for me (about 36k Blurt).
Whenever I do a hugebuy like this, I tend to look back and see whether I did well in short term. So, 2 days after I bought the tokens, the price seems to improve already.
Another good thing that I noticed is that there is a build-up of new buy orders at a slightly higher price. The last time I checked the highest buy order is at 0.069484 Hive/Blurt. Although the increase is very minimal at this point, I believe that it will keep rising by the time the Sell Orders get filled. As you can see on Dec 4th chart, a slight rebound has bumped the price as well.
It may seem that it has improved, but we can't really tell whether the dumping has reached its final drop. I know for sure that there are still other blurt accounts who are waiting for a better price before they sell their tokens.
Personally, I feel that the dumping can't fully pull the price of Blurt down to "zero"; but the time it gets lower, it will be a lot easier for dedicated Blurt accounts to accumulate more tokens.
I remember during the first time that the price of Blurt reached the 60 Sats level, the price of Hive is at the 1400 Sats level. During that time, the swap rate for 1 Hive is about 23 Blurt tokens. I bought a big chunk of my Blurt stake with that swap rate and then a few weeks later the price has improved until it reached about 240 Sats high. I took some profit out of it and sell some of my Blurt earnings for Hive.
I recovered a large sum of my initial Hive investment which I used (2 days ago) to buyback more Blurt tokens in return.
If I recall correctly, my total Blurt holdings today have increased to almost 30% within this 2-month span of "buying low & selling high". In terms of Blurt, that's considered a really nice growth of token holdings. In this case, I'm not particularly looking at it in terms of USD value since I don't have the intention to cash out into fiat yet.
Also, it makes it simpler for me to analyze the implication of my Hive-Blurt trade (swap).
I'll be reviewing the progress after a week or two. I hope to see a much bigger improvement in this soon!
Anyway, this post serves as my journal during this process. It's not my intention to offer anyone financial advice or even sway anyone to follow me through this. If ever you made a decision to replicate it then, please DYOR before making a move ;)
There are millions of Blurt that needs to be dumped by angry Hive whales who hate every coin except Hive.... I will Gladly be buying all their dumps on Hive-Engine.
They are making it easier to acquire Blurt and eventually making this place more accessible for small investors (non-whale accounts).
I feel that 100 Dolphins is better than a single Whale, so the dumping accounts are really helping plenty ;) ~ that's how I see it :)
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