I've just read some news about what happened today. It's been an Asian guy who bought a lot of BTC and triggered the longs of a lot of computers.
The trick is easy, and I think this is the way he did it,. It's just my idea of what happened:
1st: You buy a lot of altcoins some days / months before the big pump. 2nd: One day, you pump BTC if you have a lot of money and computers all over the world buy BTC and other altcoins. 3rd: Since altcoins follow BTC, they all pump with BTC and you earn a huge amount.
The manipulation has taken effect among FOMOers. It’s clear the guy who bought 20,000 BTC in a single trade knew the effect of his trade. Even professional traders that have been in the market for many years are complaining about this fact on Twitter, Facebook, and the Internet. It’s clear Bitcoin is a manipulated asset.
So dirty how youtube shills pump crypto and tell everyone bear market's over meanwhile the underlying cause of this massive pump is some rich Chinese buyer lol
Andbcoin
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@elitebagholder, LOL, agree 100%. Youtube is full of crap. They don't know the market is about to turn down again.
One guy said to me he was going to hold til BTC went to 6000 dollars. Good luck then.
Thanks so much for your comment. Really appreciate it! =)
Have a nice day!
UnknownUnicorn1000353
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@Andbcoin, one other thing i want to mention... I think the rich Chinese buyer just did a quick in and out. He already did the buying and dumping and left.
Now the correction most likely will be a slow bleed that might take weeks maybe months... There's no rich buyer to push it up, and holders who bought LTC in 70-90 will get discouraged and start selling for small losses and leave, until the next rich pieces of shit come back in.
Lol, that's how I see it. LTC maybe $45 by June.
Andbcoin
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@elitebagholder, Agree. The bleed is going to start again. We just need to see how indicators are. Maybe another pump to retest the top, or not, who knows.
If you want to try with a small amount and for a short period of time, it's ok. But not more than that.
Thanks for your comment, @elitebagholder =)
Andbcoin
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End of the trend.
lucidj
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lolz. oh ya completely unpredictable:
Andbcoin
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@jefferyrockwell, Man, you don't understand anything.
The fact is that for swing traders it doesn't matter. It will go to this target and that's it. For trend riders, this is completely insane. This is unpredictable. Instead of three days, it goes there in some minutes.
As you can see in the news, if you have taken a bit of your time to read it, it reads an Asian guy bought a lot of BTC to pump the market and it triggered computer's orders, so it was massive.
Anyways, this is not good, because manipulation has favoured you this time. Let's see if we can say the same next time it goes down instead of up.
Read before you comment, please.
lucidj
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@Andbcoin, Sorry i though you were whining about "manipulation" and how this was unpredictable... i though it was obvious that if we broke the wedge we would rise to the next major MA.
Andbcoin
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@jefferyrockwell, Don't worry. We're in the same boat, but different trading styles. Anyways, Weekly is overbought for two or three weeks now. It's not gonna hold for a long time.
I will ride other and more predictable big trends.