Personally, I think BTCUSD is one of the most manipulated coins out there. Today, I just got an idea on how manipulators benefit from its price movements:
1. When bitcoin price jumps, the growth of other coins slow down.
2. When bitcoin has a flash crash, other coins also have a flash crash.
3. People move money from other coins to bitcoin.
4. Bitcoin recovers immediately, while other coins take days to recover.
In this process, the manipulators have managed to:
a. Sell their bitcoin at the top.
b. Buy bitcoin at the dip.
c. Use the difference to get into other coins.
d. Let other people's fear drive bitcoin price up.
REPEAT
Otherwise chart pattern suggests they've overused this ruse. But maybe they'll keep it pumping until the CME listing, at which point they'll short massively bitcoin to $1k (or maybe they'll pump it to $1m, at this point I don't know which is more likely).
By the way, I don't think a "bubble" is a good description: a bubble is a problem in supply & demand, a failure in the market; this is just manipulation, and therefore it's impossible to guess when "the bubble will burst" if there's no bubble to start with. It stops when the manipulators decide it's time to do a HUGE drop in practically the same way as the 1-4 and a-d listed above.
1. When bitcoin price jumps, the growth of other coins slow down.
2. When bitcoin has a flash crash, other coins also have a flash crash.
3. People move money from other coins to bitcoin.
4. Bitcoin recovers immediately, while other coins take days to recover.
In this process, the manipulators have managed to:
a. Sell their bitcoin at the top.
b. Buy bitcoin at the dip.
c. Use the difference to get into other coins.
d. Let other people's fear drive bitcoin price up.
REPEAT
Otherwise chart pattern suggests they've overused this ruse. But maybe they'll keep it pumping until the CME listing, at which point they'll short massively bitcoin to $1k (or maybe they'll pump it to $1m, at this point I don't know which is more likely).
By the way, I don't think a "bubble" is a good description: a bubble is a problem in supply & demand, a failure in the market; this is just manipulation, and therefore it's impossible to guess when "the bubble will burst" if there's no bubble to start with. It stops when the manipulators decide it's time to do a HUGE drop in practically the same way as the 1-4 and a-d listed above.
Commentaire:
I feel like they just did it again.
