At end of my last Cloak post I reminded to buy the rumour sell the news. Well news was seemingly bad, or at least disappointing, theres been a big selloff based on the fact an anticipated code release has been delayed. Larger than anyting I expected unfortunatley, this sell off has in typical Cloak style been quite huge! The volatility in the tiny little alt-coin markets is quite breathtaking at times.
!Caution always advised in alt-coins!
Heres a look at latest chart from mintpal data, showing price in bitcoin with 4hour candles.
We are back below that 0.0004 level already, which I had thought would provide solid support. But what do I know? Price dipped below my lowest trendline too which I don’t like. I won’t be surprised to see further waves of selloff. Noteably the infamous BobSurplus user is back in the forum spreading doubt again, perhaps he’s after somemore cheap cloakcoin who can say.
I’m not sure how often I’ll post Cloak updates at the moment, still thinking about it. Timewise don’t have a lot to spare for extra posting at the moment and don’t want to feel responsible for losses people may incur based on my thoughts and opinions expressed here. Don’t be surprised if I don’t post very frequently on it, doesn’t mean I’ve lost interest.
Cloak marketing seem to be quite busy still and have come up with this quite snazzy video.
If you are Scottish I have one word for you … YES