The Short Sights on Tierion (TNT)
TNT deposits and withdrawals recently opened up at HitBTC.
Trading is taking a bit of a beating as a result, bringing the price down into sub-5000 Satoshi-per-token range at various times. If you weren’t intending to play this one for the long run, it may be time to exit when the next opportunity presents itself, as there are a lot of tokens in the wind waiting to come awash on the shores of the exchanges.
They will be snapped up there by the turtle whale monsters who still don’t value the name Microsoft appropriately, who will then go on to sell them to other market bulls who will eventually smell the cheddar on the other side.
But in the short term, we’re seeing peaks and valleys all the day.
Nevertheless, even if short sights on TNT are not great, we can assume that this is because we’re still talking about a baby token. No amount of backing can make up for the fact that the thing is just getting started, so we can only hope that token holders who were in for speculation are capable of dumping their tokens at a reasonable rate before the irrationality takes over.
At time of writing, TNT was not even vetted on the Etherscan blockchain. While the token appeared, no values or anything related to it were yet assigned.
Thus, short sights on TNT? Bad, maybe getting worse, and this can be interpreted as a buy signal if you’re long on the concept.
Additionally, the book at HitBTC isn’t the greatest:
Long view? Better than ever, since more serious investors can now get their tokens at an enhanced price. We see trading elsewhere being a bit different.
Coinmarketcap will likely update their chart and information with HitBTC’s data once they get word that liquidity on the token is now available at the exchange, so the following chart is added in addition, for perspective, that the market generally does not value TNT tokens much over 5000 Satoshi at this point.
If one is invested from a longer view, as the author is, then one has to decide now whether this will shake them, or if their faith in the idea can see it through. All that’s required are some announcements before a seller’s market appears, the author feels, and thus keeps his hands strong on this particular token. Yet, it’s worth noting the author can easily foresee a long period of months intervening before significant profit taking opportunities yield themselves, therefore, depending on size the reader’s position, this opinion might assist in decision making.
Note: the author holds and acquires TNT tokens with the intention of later selling them.