Re: Exchange market data manipulation bringing the whole crypto market down?
Hi guys,
I was investigating the recent market plunge and this is my two cents as to why the crypto market is experiencing this situation.
Some people were tying this to the fake news about Goldman Sachs crypto desk plans change, but I think this is due to an exchange faking data.
The news that BitForex is faking data came around auguest 26th. Now this is what can really be happening on the market.
An exchange lists fake data about the price dropping rapidly, then it buys the real crypto at the discount price (knowing that the price is "fake") on other exchanges.
After this, the same exchange spams fake data the other way around and sells the currency at the real or overvalued price = profit!
Today Coinmarketcap states that BitForex ethereum volume is $1,090,589,986, which is 40% of the whole market.
I do not see a real economic situation in which this can be true.
The question is when will such hoax schemes of market manipulation stop?
Really, coinmarketcap was such a trusted source of market data and now this is just a very sad situation. What do you think? What are your speculations about the recent price changes?
I think that manipulation will not stop. The legal authorities in countries cannot control the crypto market. because transactions are not intermediary and people who transfer money and receive money are anonymous.I was investigating the recent market plunge and this is my two cents as to why the crypto market is experiencing this situation.
Some people were tying this to the fake news about Goldman Sachs crypto desk plans change, but I think this is due to an exchange faking data.
The news that BitForex is faking data came around auguest 26th. Now this is what can really be happening on the market.
An exchange lists fake data about the price dropping rapidly, then it buys the real crypto at the discount price (knowing that the price is "fake") on other exchanges.
After this, the same exchange spams fake data the other way around and sells the currency at the real or overvalued price = profit!
Today Coinmarketcap states that BitForex ethereum volume is $1,090,589,986, which is 40% of the whole market.
I do not see a real economic situation in which this can be true.
The question is when will such hoax schemes of market manipulation stop?
Really, coinmarketcap was such a trusted source of market data and now this is just a very sad situation. What do you think? What are your speculations about the recent price changes?
therefore, it is impossible to investigate and arrest manipulators. Besides, the black market is also more active on telegraph channels.
Our market is just to manipulate and you should see this as its characteristics.
