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 ...
They are not morons.
Actually, they know exactly what they do. When they sell they drop the price and maybe they buy again instantly. The market is strongly manipulated by them and they have made many profits from these strategies.