Quote from: MFahad on September 05, 2020, 05:39:52 PM

Quote from: StonksStonksStonks on September 04, 2020, 10:05:05 PM

heres the story about the exit scam https://www.youtube.com/watch?v=7vlt0lLzzYQ&ab_channel=SlightlySociable

basically, Empire Market was the most recent edition of the Silk Road. The admin took all the Bitcoins and ran. Guessing it was a few millions of dollars worth of Bitcoins. So maybe he dumped them yesterday and that's what caused the price to drop?

Think we'll see the price walk back up over, if this is the reason. Seller is gone!

Was Empire Market so big that its exit scam will cause bitcoin to drop from 12000$ to 10300$ ?

1700$ drop in two days is not usual and it can't be because of only one incident of scam of empire market. There are mutliple factors involved and whales just add more to the drama.

No, it's not that big exit scam to really cause a shake up in the market, and I also believed that this is the real case. There are a lot of speculations going on, hard to pinpoint which one. But I would agree that the resistance around $12k is difficult to overcome, that's why the investors play the market around, manipulators behind and the panic was established when inexperienced noobs follow. And now they are still at loss and probably more are still selling at this point because it bounce back to $10,500 then goes down to $10,100.