Re: [ANN][DRK] Darkcoin | First Anonymous Coin | Inventor of X11, DGW and Darksend | Instant TX
probably he is cleaning up the sell orders right above his buy wall as well, slowly but surely. The sell wall was 13K+ at the beginning. Some people sold into it and went down to 9K. Then he replenished it to 12345DRK. Went down to 10K. And then replenished to 15K. This explaines the 8K+ DRK in his account. He has more BTC where it came from as he said.
Or he has that buy wall on Bitfinex and is unloading on Cryptsy.That's what I'd do.
If I was in trading mode, I'd nail his entire bid on Bitfinex and dump like hell on Cryptsy too. See if he panics and buy into that.
As a trader, ALWAYS ask yourself WHY.
Why would someone put a huge buy order on a lower volume exchange? Idiot? Maybe. But most of those people have already lost most of their BTC to smarter traders.
So WHY? If he wants to own a ton of DRK, why place an order is a manner that would likely cause the price to increase so he has to pay more? Could it be that he wants to exit a large position and if the price increases, he gets to sell at a higher price. And all the while, he can sell into the buying pressure caused by his buy order?
Or maybe he already has a large position and is making sure the technicals look good and is happy to add to his position.
I sure do love this game
