Bitbay is rising and it seems that Bay will rise above 1000sats very soon again.
I think it will happen in 2 weeks if not less.
And this current seller is obviously running out of ammo.
I track the blockchain - 95% of all the selling over the last 2 months has been from coins held within the exchange! Charts are showing that the sellers are nearly out of gas and since people aren't depositing to sell along with him, they have no way to try this to buy back more cheaper.
Q4 for BitBay will be very interesting to watch. I don't see why it won't go over 5 cents a coin by the end of Q4. I'm predicting anywhere from 5-10 cents a coin by December.
After this next dev release, the roadmap involves finishing the remaining smart contract templates, API integration, and coding the decentralized rolling peg. I'm hoping the white paper rolling peg will be released around the end of Q4, or Q1 at the latest. The dev team doesn't want copy cats to try to 'jump the gun' so the paper won't be released until the coding is progressing to a sufficient level of completion.
After the decentralized rolling peg is released, BitBay will become the best hedging tool available for traders looking to protect themselves for crypto volatility. With the rolling peg, BitBay price can still fluctuate, just not at these insane levels we typically see. So unlike the hard pegged coins out there BitBay can provide compounding interest earnings on top of hedging speculation.
For example, after the rolling peg is in place....
let's say you own 500 BTC see some negative TA on the BTC charts and think the price is going to drop in the next week. You buy up BitBay with your BTC, then as you predicted, the price starts dropping on BTC, now the rest of the herd try's to hedge their BTC capital and buys up BitBay. The increase in demand allow you to sell your BitBay higher than you bought it. Then you sell your BitBay when you speculate BTC reaches support levels.
With a hard peg you have no potential to compound your profits, while BitBay will allow you.
Since the rolling peg will create a coin supply where some coins are frozen and some coins are liquid, this will also allow for BitBay to provide futures markets for speculators!
Frozen coins can still be sold, but with timelocks on them. The timelocks are still yet to be determined. But imagine someone wants out of BitBay and sells their frozen coins on a futures market for cheap. These coins are locked for 3-6 months. You buy the coins from him. After they mature, not only did you buy cheap from a desperate investor, but the price of liquid coins increased by 5% (example) over the course of those 3-6 months.
So you earned (example) 10% because you bought frozen coins cheaper than current liquid market price and then the liquid market price increased 5% upon maturity of timelock!
It's going to be one heck of a lucrative trading game! I can't wait for it to get here!
I'm hoping the peg will be released around the end of Q1 of next year. Nothing set in stone with crypto though. But either way, it's already the most advanced crypto wallet in the industry and has a lot more features coming to light in the next few months compared to all these ICO's that are nothing but vaporware and a hyped website with diluted ICO earning propping exchange volume.