BLURT just flash crashed -65%
Blurt user @kencode just sold 50,000 BLURT on Hive-Engine for $28 worth of HIVE. With almost no buy orders, this crashed the market, sending BLURT to one third its former price.
For more than a week I have been repeatedly warning that this was about to happen. After each post I did to bring awareness, there was a momentary surge of support for BLURT, but it hasn't been enough to really bring in serious buyers to prop up the price. And so, we are now in freefall.
The sellers are relentless, bringing tens and hundreds of thousands of BLURT to market every day. Many of these are insiders, who get massive amounts of BLURT just for sitting on their unearned stakes, or through deals with the owner of this website, Megalodrive. Others are developers like @kencode (Agorise or BlurtMedia), who need to sell BLURT to buy groceries and pay bills. Others are witnesses, who earn more BLURT than anyone else on this platform, mainly for spamming the rest of us with requests to vote for them (so they stay in the top 20 and get free BLURT every day).
The sellers just keep coming. We need some buyers! Won't somebody show up with $100 or so, and save our currency? Without some investment, BLURT will continue steadily toward zero, with sudden drops like we just saw.
I'd love to pitch in, but I've been doing that for 4 years straight, and I'm completely tapped out. All my BTC, all my STEEM, all my HIVE, even a lot of my fiat savings... it's all in BLURT. Tens of thousands of dollars and many years of content and curation, to build up this platform. My current holdings are worth less than $2000. I've spent every spare moment in the last 8 years trying to earn tokens, and power them up, to support this community. I literally have nothing else to give. So here I am, trying to raise awareness of the problem, in the hopes somebody with some funds will have mercy on us.
Here are the previous 6 months of price action:
Today's drop erased all those gains, and quite a bit more, plunging to below 0.005 HIVE per BLURT.
That was an hour ago. Somebody has come along and put up a few superficial buy orders to make that side of the market look alive, but don't be confused: a few dollars of selling will crash the price yet again, and this time it may not bounce.
Just a notice. There's not much else I can do.
Personal aside
I am still looking for a way to unload my 1.35m liquid BLURT. Obviously, I can't dump it on the exchange - even 1% of it would totally devastate BLURT. If you'd like to make me an offer on a private sale, I'm sure everybody here would appreciate that.
All the best to everyone.
DRutter
