Nice one Matt,
Where you not tempted to hold onto them in the hope they go up a little more?
Nah, could see that they had reached their peak in the market.
They had risen to 150 (missing lots of 0's here), and there was a 20 BTC sell wall for about 8 hours into the initial pump. This meant a drop to around 130 where we came back up to 150 with huge buy support and eventually ate through the wall. This then skyrocketed up to around 200 pretty quickly (with no big sells), and then up to 230. Around 230 There was a lack of buying going on and no sell walls, so we had kinda reached our peak, even though there was no obvious reason as to why. Coins like this tend to peak initially and then never peak again, so took a gamble of selling even though it could have meant I'd profit more later on (but with 4 BTC already who can complain?).
So looking at the market now we're at 116 ish (what I'd say is our normal value, probably less imo), and I don't think we'll see another rise quite so high at all. It's very similar to how feathercoin rose - there was some hype of a new coin where people coul0d "get rich quick", followed by a huge sell wall pushing prices down. It then rises past this eventually and peaks, but then will fall and actually never go as high again - speculation is done and people have already sold who were in it just for the profit.
Hopefully that makes sense and there aren't too many typos - just got back from a Staff Xmas lunch so mellow is a small word to use in this sense.
Personally I don't think we'll hit 230 again. I think if we're lucky we'll hit 160 with a push, but there are ALOT more coins now and people will be trying to cash out during the rise before it hits too high and comes crashing down, and will therefore sell earlier - but this will also mean with all these sells it will never hit tthe high it's "meant" to.
