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CryptoGlyn
Oct 25, 2023

Well, a month ago on 23rd September, BBS token broke 8/10ths of a cent on the main exchanges listed on CoinMarketCap ...for the last few days we are fairly consistently below 6/10ths of a cent😥

Unless you've been living under a rock, Bitcoin has taken off touching $35K+ and many alt coins have rallied too. BBS did have a small upturn in the peak of this rally of Bitcoin but today has dropped once again to sub $0.006 levels and thus has not followed suit. Given too that BBS is stalling at the mo' with the development team mainly based in Israel and most matters 'On Hold', then BBS could be seen in crisis for the short-term. Wei Ji 危机 as a Chinese philosophy is the notion that many follow in business being "Opportunity in Crisis".

CMC 25/10/23CMC 25/10/23

Is this an opportunity we have right here right now to capitalise on this crisis? Or is it just another step in a larger fall in BBS spot price? It all boils down to your own personal confidence and the risk tolerance you allow yourself. However, taking a look at the main exchange for BBS exchange being MEXC, here's the last few days:

MEXC 25/10/23MEXC 25/10/23

As you can see for about 4 days, the price has been below $0.006 and the bulk of 'real' trading (humans not bots) has been done at $0.0055 over this period (I follow hourly and daily thus have seen this). Yes, a quick rally up yesterday along with the Bitcoin boom but alas not sustained. Yes, BBS did also ping $0.005392 3 days ago and was an All Time Low for MEXC but the sells below $0.0055 equated to less than $100 (I know I was buying with set orders to that ATL). The price you see in the CMC screenshot has an ATL of $0.005798 but that was derived mainly from Pancake Swap data.

Wei Ji 危机 and yes there could well be an opportunity in crisis here between the two white lines of $0.0060 and $0.0055 as heartless as it sounds, but in business and finance 'The show must go on'. 🙏

What's your take? Are you buying, selling, holding, or doing nothing? Happy trading and DYOR etc.

Cheers, CryptoGlyn.🦆

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