Turns out that it is. I did some digging through binance, bittrex and huobi order books and I must say that Hive's high valuation is standing on shaky ground to say the least.
Although on both binance and huobi order books only go to the 100th order the information I'll lay out paint a fairly grotesque image of what's about to come if it really comes down to a 10 million dump.
Here is what I found out:
10m Hive is 934 btc
6.5 btc would halve the price on huobi
8.4 btc would bring it to 50 cents on binance
And it would only take 31 btc on bittrex to get it to pre-pump levels (1.6k sat) and 56btc to bring the price all the way down to a single satoshi.
Can you place a theoritcal/speculative timeline on the worst case scenario? Also, is pre-pump 18cents or are you talking 9-12cents?
Worst case scenario is one massive 1 minute candle dumping to one satoshi on all exchanges. How realistic is it to expect something like that? Idk, Sun is completely fucking unpredictable but I'd give it a 20% probability just because he is a emotionally unbalanced, sick and deranged individual.
Although I don't think he is retarded enough to forfeit his coins that cheaply.
If I was him I'd rather do 5, 10 or however many mini-dumps (to pre-pump levels - 12 cents) I could get out of that 10m and if he is not too hot-headed, that's exactly how he might decide to play the hand he was dealt.
That's how he would get the most bang for his buck and cash out at a reasonable average price while simultaneously pumping steem in the process ofc.
Ah well, the beauty of it is that pumping Steem still opens an opportunity for transfer of value back to Hive and all it takes is a movement like the one that led to the creation of Hive. Once people notice the trend, there'll be lots of Twitter talk about hodling Steem for the pump, and once the Steem peak hits, sell for profit that will find its way back into Hive.
I just hope he holds out a little bit for me to get some liquid hive to trade for the future dump.
That's exactly what I'm trying to do but I don't think we will make it past the 29th 😭
Fuck 😭