Hedera reverts "Sell the news" principle

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garry
Feb 13, 2020

Hedera Hashgraph appeared on radar two days ago. A project describes itself as "A public distributed ledger for developing fast, fair, and secure decentralized applications."


Social volume trend has never been so high:

Social context: excited

I'll try to find out how Hedera's price trend began and where may it be pointing.


First noticeable event was publishing a FUD article on January 27th, here:

The post mentions:

  • "elimination of 10 positions globally, including a mix of contractors and full-time employees"
  • "reducing our projected run-rate... to less than $2.5 million per month" 😮
  • "selling some of the hbars held in treasury"
  • "400 million coins... will be released on February 1, 2020". Even more.

No reaction is visible that days in social channels.


FUD is often a nice entry point.


Then the news came: "Google is becoming a member of the Hedera Governing Council"


Here:

"Sell the news" - remember this?


Didn't work for Hedera.


It pumped a couple of days instead and reached ×2.7!


Where are we now from HBAR society point of view?

Mixed emotions, unclear picture.


Checking Sangraphs:

Spikes on the right of the Sentiment Volume Consumed charts showing Telegram and Discord users are quiet excited. Usually this might be a sign of forming top. Not sure about Hedera which totally doesn't care about "usual" "sell the news".


Finally HBAR disappeared from list of Emerging trends while writing this.

Shall it correct for a while and then pump again?

Or simply dump?
We'll see.

Interesting market.


hbar
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garry
Feb 13, 2020