Hi
I saw todays dip and then read that a whale von Bitstamp sold about 3600 coins at once and tanked the price down to 6200 for a short period of time. Now it stabilized at around 7200 USD.
Why do these people do this? Are they just morons?
If they would sell their coins within a period of 3-4 days they could probably get close to 8000 USD for every single BTC ...
So many factors are involved. From what I have read this pump was a short squeeze by deep pocketed whales buying in order to liquidate shorts. When it gets to the top and no more left to squeeze they short the top(or short on the way up) then dump. It is actually fascinating watching this all unfold. But whales are our friends. They have helped drive the price to $20k. Im sure at times when there have been rogue players maybe trying to drive the price down and hurt btc they stepped in and bought. Does it suck that they dumped? Of course, but unless you were planning to sell they beat people to it first. It may continue to drop for awhile but im looking at it as a buying op for the real bull run. Just my 2c.
G/l