Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I have the fear that what we are observing is bitfinex exiting from their fractional-reserve scam, almost unnoticed.
Bitcoin was pumped really fast with really big volumes, and I think that the retail FOMO in 2017 was not a cause, but a consequence of such pump. The pump was sustained by finex's tethers, either if they were real or not.
I think there's a chance this is a well-executed "willy bot" pump and dump, markets are crazy but there are too much people buying and selling in panic without reason for this to be real.
Bitcoin was pumped really fast with really big volumes, and I think that the retail FOMO in 2017 was not a cause, but a consequence of such pump. The pump was sustained by finex's tethers, either if they were real or not.
I think there's a chance this is a well-executed "willy bot" pump and dump, markets are crazy but there are too much people buying and selling in panic without reason for this to be real.
Bitfinex is like the Goldman Sachs of cryptocurrency. Whether it's fractional reserve, trading with customer funds, stealing customer funds, unplugging the exchange on purpose to try and liquidate margin positions, or printing infinite Tethers, I'm leaning more towards all of the above than one specific thing.
Just about nothing going on at that exchange has ever made sense. Like the picture I posted earlier from eons ago when the price was around $1000. The market wasn't even strong at $1000 fucking dollars. It was weak as piss, and yet Bitfinex rigged it upwards on 0 volume. To me, it looked like everything from $1k to $20k was probably fake and entirely orchestrated by that exchange:
