Your theory sounds more realistic if it brought some income for bears) I cannot see the volume statistics there that were bought/sold at that time point. It was done overnight when most of traders from East European countries were asleep. And besides btc-e is currently down.
Maybe they are facing some security issues or being under ddos attack. Hope we will hear some explinations from them soon.
Maybe they are facing some security issues or being under ddos attack. Hope we will hear some explinations from them soon.
It did bring a lot of income for 1 player. By 'bear raid' I mean the direction of the action was down, triggering stop losses on longs and hoovering up the coins at lower prices. That we are now back at the same price is exactly what the initiator expected. Call it a 'smash-n-grab' if you prefer
Don't see why it matters what time of day it was done.
FYI on btc-e the volume showed approx 10k transacted at the time.
Don't expect to hear anything soon from BTC-e - they are not exactly forthcoming with information. And I would not trust their explanation anyway unless it was accompanied by a reversal of trades/compensaton for losses, and that ain't gonna happen. Words are cheap ...