Post
Topic
Board Bitcoin Discussion
Re: BTC Dump: Pure Whale Manipulation
by
Juggy777
on 04/06/2019, 17:10:58 UTC
The BTC dump today was completely manufactured:

About 20-30 mins before the dump, a whale moved 25k BTC (worth $215M) to Coinbase.Link


About an hour after the dump, a whale moved 14k BTC (worth $112M) from Coinbase to another wallet: Link

40 mins after that, a whale moved 11k BTC (worth $88M) from Coinbase to another wallet: anchor

15 mins after that, a whale moved 10M USDT from one wallet to another: Link

If you do a little math and follow the timeline, it's not hard to see that someone dumped 25k BTC for $215M and bought it back shortly after for $200M. In doing so, they pocketed $15M and walked away with the same amount of BTC as they started with.

Fuckers.

Edit: For all those saying that no one was complaining when a whale entering the market drove the price us. No shit, all boats rise in that situation. In the one we're talking about here, only one group of people benefit whereas the vast majority are negatively impacted. That's the difference.

Source for the original post


I didn’t realise this was the scenario until you pointed it out with those transactions, yes now I too believe that it were the whales who manipulated today’s dump. While I understand your frustrations with them, I do not feel they did anything wrong cause it’s smart trading where they made quick returns and got their capital back. This kind of transactions happen in stock markets too, one who has the power to do it will do it there’s nothing we can do about it.