Isn't OTC is like having a buy wall?
I have read a lot about OTC now. It is indeed that it bypasses the order book. Neither the sell order nor the buy order appears in the order book. I press on MKT SELL and the order is not made visible to the order book. The exchange pays me directly, so to speak. The collected bitcoin are then sold to the broker. So the broker can place buy orders in a certain range.
That seems to be common practice at Wall Street. Order packages are moved back and forth between liquidity providers. Specifically, they do that for assets that are titled "hard-to-deliver". Assets for which there is little liquidity. There is much more. They lend the same securities several times and so on .. very very interesting inside information is that ..
Buying all the way from 10 000 to 6 000 then dumping it to reach 4500 is a plausible scenario?
Seriously?
And no words on how inevitable all that money that was poured in those buying deals helped prop the price?
I guess they were not buying from 10,000 to 6,000.. they can buy in a specific range with OTC e.g. just below 6,500
I've yet to witness a price drop that is not the fault of either banks, wall street, goldman or the reptilians.
I agree. I was just too naive to think that would not affect the Bitcoin.