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 could sell all their bitcoins at 8000 USD without moving the market, even in 2 days if they wanted, however it is far more profitable to sell most of it at 7500-8000$ and wait for the price to tank further, without them spending more bitcoins and re-buying at 6200$ pumping the market right back up, almost instantly getting 15% returns, they also know the market is bullish right now and will very likely just climb back up to 8000 and beyond so they are just accumulating more bitcoin ''for free''