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 ...
I think it's one of two things.
Either they saw the price dripping and panic sold into a thin book, or they thought they could actually dump prices into the $6,000s and that would spiral into a bigger crash.
Either way, it looks to me like we're going to stabilize off the $7,000 level and continue upwards.