$WOO price - Out of the pit?

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(Edited)

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Hey all, in this post I will update you on the market changes in $WOO for the last days.

Turbulent times

For everyone who is eyeing the $WOO price as close as I do was the last week a little hard for the nerves. There were multiple reasons for that, below I will give you my thoughts on that. But first lets look at the charts.

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It all started with a small decline in prices on the 7th of October around mid-day CET time. The prices dropped to 0.005 Hive/WOO, and then further declined near the 0.004 mark. it stabilized a bit on the 9th and went back to the 0.0045 mark for a few hours, but dropped soon after into the 0.0034-0.0035 mark where it resided until today. We see a healthy 0.004 at the moment, but it is too soon to be happy about this. So what happened according to me.


Unstaking

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The first drop was caused after the first rounds of unstakes arrived into the wallets and whales wanted to reap some profits on their investments. The sell of was moderate, there was a clear line of willingness where the price of $WOO should stay.
This was a great opportunity as the price of Hive icrease by 10-20% during the first days, and as such it was a good time to take make some money.

Hive Price Fluctuation, loss of appetite

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Between the 11th and 12th of October we can see some high fluctuation of the $WOO price. This was a turbulent time for the whole Hive ecosystem, as Hive was making a lot of movements. During this time the amount of trades were sporadic, small buy orders were filled by unstakers. Also a few cards were bought, which moved the sell orders high from time to time. A scissor between the hive buying and selling price opened up a lot, and a few market maker bots started to show up. Namely pjansen and god0. After a while these started to push down the prices, and scooped up most of the sell and buy orders with a nice profit from the difference between then.

Bots on the loose

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From the 13th till the 16th the bots were mostly ruling the WOO price.

I had a bit of an experience before with similar bots, but I'm still a newbie, so I tried to lessen the difference between the sell and buy orders to minimize their profits so I moved the prices slowly up/down.
What was a big surprise for me, that the god0 bot immediately bought up one of my buy orders the second I made it, even though they had no sell order in that range. Which means that this bot is looking on a the market with eager eyes. My buy order was at around 0.004 Hive/$WOO at that time and was instantly filled.
That was a big surprise for me.


What is happening and what to have in mind

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Currently we see a small uptick in prices, which is for me a bit of a relieve, though this might be a short lived one. The uptick was caused mainly by the buy orders from doctyppierre who seems to be an active participant at this moment.

What to keep in mind:

  • $WOO alpha sale, which impacts the $WOO price the most at the moment will happen on the 31st of October.
  • The Alpha packs will cost $2 worth of $WOO
  • The amount of $WOO needed is calculated throughout the month of October. So longer times of cheap $WOO means at the end a higher amount of $WOO needed for general sale.

We stared a few weeks ago with 700 $WOO/pack and are currently at 844 $WOO/pack. With the current price of 0.002$/WOO this means the number will further drop to 1000 $WOO/pack...

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...and now to the good news, 1000 $WOO/pack is an option but must not be the end of the game. It is now a great time to buy $WOO, as if we push up the price of $WOO we can keep the price range of $WOO/pack at around 800 $WOO + what is a bonus here, you can buy the $WOO for the price of 0.002$ and if this plan would work out, then the buying power of $WOO would during the general sale would be 0.0025$. I would be pleasantly surprised by this. :)

That is all from me today. I'm definitely not a market analyst, just tried to listen in to the discord and add a few of my thoughts, while watching the market sells and buys. At this point I don't know where the market will move, but I hope I can look forward to a successful Alpha pack sale on the 31st of October!

Welcome to the WOO family!

That was all for today. I hope you liked this overview and if you are missing any content, then feel free to ask, or jump into the WOO discord channel
Here is also my Ticket Counting Tool link if you want to know how many tickets you got on your collection and how much chance you have on a hourly/daily basis.

All pictures are taken from the WOO discord, the WOO website and adjusted for the content.



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2 comments
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Great look at the recent dip in price, thanks for your insights and opinions.

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