Quote from: BTCalexxx2.0 on March 23, 2014, 06:28:00 PM

@sinx13
Ok, I agree that does make sense indeed. But I have a hard time buying this whale version. I just cannot imagine someone panic-selling that crazy in a blink of an eye. Plus the version I read on some Chinese blog was a bit different involving high profile fraud using LTC derivatives. But maybe I am just mistaken, since I cannot tell how accurate Google Translate is working. One or the other way, nothing positive about something like this going down on a major exchange. I guess we can agree on that Wink

Well, my problem with the other versions as panic is that the point of that selling was very, very poor. The price was just starting to jump, then the news kicked in and he sold.
And it was not much! Look at the huobi ltc charts on 5m. We talk here about one big order but with under 60k coins. Sounds much but for ltc is not that awful much. Check bitcoinwisdom - it was a big but not unusual big volume at that time. Pretty normal for crash times. There are some persons on btc-e playing around with buy/sells of some 10k.

That 60k order hit the market AFTER that news, where already the first sell out wave had hit and people was removing buy order.
That and the fact huobi is/was still new in ltc was the reason for a light order book. Means there was not that much buy orders.
That light book was hit by the 60k sellout telling the API "sell for any price"... So he buyed out every damn order set IN THAT MOMENT.
Seconds after that, the bots and people set new buy orders in or they was just typing that orders and even not noticed it. That is
the instant rebounce. And of course people who buyed ltc for like 5 yuan because they had set some "lucky punch" orders was waiting
and selling then on the rebounce top. That was for sure the easiest money ever.

So, it looked spectacular and is for sure an event you will not have very often but its not that unusual.
We had the "102" guy on btc-e who buyed out too nearly the whole order book. There everyone assumed fat finger aka a typo.
There is also the "75" guy - he sold in the small crash in october as btc was 120+ a mass of coins for low.
Only weeks after it btc hit the $1000... bad luck.

sinx13

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