Post
Topic
Board Speculation
Re: Didn't we do this already?
by
zby
on 18/08/2012, 04:37:04 UTC
everyone knows this is purely speculative/silk road driven

I can't even tell you how wrong that statement is...  Smiley

Don't you think it was a single-player pump-n-dump operation? Slow, persistent buying over two months to build up confidence, then a massive dump.
There was certainely occasions when it looked like it - someone was countering all corrections to fuel the confidence.  For example look at this: http://bitcoincharts.com/charts/mtgoxUSD#rg10zig1-minzczsg2012-08-17zeg2012-08-17ztgSza1gEMAzm1g10za2gEMAzm2g21zi1gMACDzv

A dump quickly countered so that the trend lines hold, that was not rational assumming accumulation goal.  There were others - but this is perhaps the most obvious.  But I think that he did not actually profit from this - he did not predict that the reaction will be so strong.  I hoped he'd dump this dump as well.