In fact, altcoins are a zero-sum game.
Taking #power as an example, the chips are highly concentrated, driving the price up, trying to see if they can catch big short-sellers. If they catch one, they continue to push the price, squeezing the shorts and seeing if they can catch an even bigger fish. If not, they just let the price decline to sell off or, if the cost is too high, directly go for a liquidation to recover costs.
So how high altcoins can rise actually depends on how big of a fish the speculators catch. To catch big fish, they need to create attractive candlesticks, like $POWER , making people think the price is artificially high through a short-term surge, quickly entering and exiting.
Or they can maintain a high position over the long term, like $PIPPIN , extending the time frame, so even if the daily chart looks ugly, they can still catch fish.
Taking #power as an example, the chips are highly concentrated, driving the price up, trying to see if they can catch big short-sellers. If they catch one, they continue to push the price, squeezing the shorts and seeing if they can catch an even bigger fish. If not, they just let the price decline to sell off or, if the cost is too high, directly go for a liquidation to recover costs.
So how high altcoins can rise actually depends on how big of a fish the speculators catch. To catch big fish, they need to create attractive candlesticks, like $POWER , making people think the price is artificially high through a short-term surge, quickly entering and exiting.
Or they can maintain a high position over the long term, like $PIPPIN , extending the time frame, so even if the daily chart looks ugly, they can still catch fish.