!00% manipulation by one particular exchange. They went down yesterday conveniently for "maintenance" and when they came back online guess what BOOOM massive pumps out of no where on their exchange. They did the same thing back a few months ago. Down for maintenance and then BAMMM online with a massive 5 minute candle pump. This is not the market, this is exchange manipulation using fake volume. For some time now experience traders have been calling this particular exchange out because they believe they are using fake volume to try and manipulate the market. Also this exchange prints Tether out of thin air too so you put 2 and 2 together.
Is it illegal? This is a good question. Crypto exchanges and trading is not regulated right now so legality is a grey area. What I can say though this is not normal volatility. Can you name me one foreign currency or stock on any exchange around the world where the price is pumped and pumped sometimes on spreads over a thousand dollars in the extreme within an hour in some cases as we have seen in the past? No!!! This is pure and utter manipulation by FAKE means. This is not whales or some big holders of BTC I'm sorry to say.
Who the hell and what business in the mainstream would adopt crypto or BTC if the value can be so easily manipulated one way or the other? Bulls might like these pumps and hate the dumps but bulls I've got news for you, if this continues I can tell you ZERO BTC is a reality not an uncertainty. I've been speaking to many experienced traders and they are concerned with what is happening right now.
What can be done? Or what can the community and traders do? Boycott this particular and exchange and lobby places like coinmarketcap to delist this particular exchange and any other exchange that uses Tether or any type of sh#$ coin like Tether. coinmarketcap did delist a lot of Korean exchange for dodgy price fixing and fake numbers so it is not unprecedented.
Reports are the FBI and US government is hot on the trails of this exchange and because of the connection with Tether and representation of USD being backed by each one of these fake coins. This is story is yet to be played out and it could be 2018 version of a 2014 Mt.Gox crisis folks. You have been warned so just be prepared. So many similarities between this year and 2014 have been drawn but bulls argue we won't have a Mt.Gox type of crisis. Well I would argue the Tether crisis and the exchange and exchanges using Tether could go into complete meltdown with ferocity leaving the crypto market stung and shocked. Of course before these crooks are actually captured they will make a run for it with people's FIAT and crypto and claim "HACK" and then go into hiding. It's . the oldest play in the book of dodgyness.
I mean think about it just from a simple logical point of view. If you were a hedge fund truing looking at investing hundreds of millions into BTC and you are watching the market coming down and down organically and ll the indicators and trends are showing a $4-5K BTC or even into the 3's would you be pulling the trigger in the low to mid 7's? Why? It is ludicrous and doesn't make sense no matter how complex you want to make the argument.
Antonop might know technical stuff but he knows sh#$ about real economics when he argues that volatility doesn't affect mass adoption. It absolutely does! the majority of people and businesses will not want a bar of BTC or any crypto with this kind of volatility because you can't do business that way.
This story is yet to be played out folks, but it is coming and coming this year.
LMAO! This is so obvious manipulation ... RIP longterm investors lol
Bombita
⋅
@BitPersia, i agree man , actually this is illegal shit
Jessica_H
⋅
Bombaaaaaaaaaa, we're going down! I said before the market wants to go down the only thing pushing the price up occasionally is manipulation. There is no follow through on the pumps. If you are of a bullish bias stop willing the price up. Just be patient and wait for a cheap buy in and then hold. the 7K range IS NOT a good buy in. BTC is still over valued right now. Just wait as it continue to drop. The 200 MA has peaked on the daily chart and is rolling over for the first time in 4 years. This is a very very bad sign. Months of down trend is ahead of us. 2018 will be the year of the bear.
Is it illegal? This is a good question. Crypto exchanges and trading is not regulated right now so legality is a grey area. What I can say though this is not normal volatility. Can you name me one foreign currency or stock on any exchange around the world where the price is pumped and pumped sometimes on spreads over a thousand dollars in the extreme within an hour in some cases as we have seen in the past? No!!! This is pure and utter manipulation by FAKE means. This is not whales or some big holders of BTC I'm sorry to say.
Who the hell and what business in the mainstream would adopt crypto or BTC if the value can be so easily manipulated one way or the other? Bulls might like these pumps and hate the dumps but bulls I've got news for you, if this continues I can tell you ZERO BTC is a reality not an uncertainty. I've been speaking to many experienced traders and they are concerned with what is happening right now.
What can be done? Or what can the community and traders do? Boycott this particular and exchange and lobby places like coinmarketcap to delist this particular exchange and any other exchange that uses Tether or any type of sh#$ coin like Tether. coinmarketcap did delist a lot of Korean exchange for dodgy price fixing and fake numbers so it is not unprecedented.
Reports are the FBI and US government is hot on the trails of this exchange and because of the connection with Tether and representation of USD being backed by each one of these fake coins. This is story is yet to be played out and it could be 2018 version of a 2014 Mt.Gox crisis folks. You have been warned so just be prepared. So many similarities between this year and 2014 have been drawn but bulls argue we won't have a Mt.Gox type of crisis. Well I would argue the Tether crisis and the exchange and exchanges using Tether could go into complete meltdown with ferocity leaving the crypto market stung and shocked. Of course before these crooks are actually captured they will make a run for it with people's FIAT and crypto and claim "HACK" and then go into hiding. It's . the oldest play in the book of dodgyness.
I mean think about it just from a simple logical point of view. If you were a hedge fund truing looking at investing hundreds of millions into BTC and you are watching the market coming down and down organically and ll the indicators and trends are showing a $4-5K BTC or even into the 3's would you be pulling the trigger in the low to mid 7's? Why? It is ludicrous and doesn't make sense no matter how complex you want to make the argument.
Antonop might know technical stuff but he knows sh#$ about real economics when he argues that volatility doesn't affect mass adoption. It absolutely does! the majority of people and businesses will not want a bar of BTC or any crypto with this kind of volatility because you can't do business that way.
This story is yet to be played out folks, but it is coming and coming this year.