Borrowed this from the comment section on Cointelegraph, could it be argued in opposition to: : CryptoCurrency
Cointelegraph comment by means of: John Richardson
So who did all the MASSIVE dumping of BTC when it skilled the ones flash crashes? When all used to be reputedly OK and strong in the marketplace. …then swiftly..and for no obvious reason why….large dumpage and down plummets BTC….once more…and once more….and once more.
I’ve carefully adopted on a day by day foundation BTC’s worth fluctuations for over a 12 months. I turned into extremely suspicious once I started to note a development as the 12 months opened up.
For instance, excellent information stopped having a good have an effect on on the worth of BTC however unimportant and insignificant damaging information brought about a significant crash in its worth.
It’s as although anyone with an enormous quantity of BTC used to be hiding in the shadows looking forward to the subsequent little bit of damaging information about BTC to emerge in order that they could then use that as a canopy to offload huge amounts of BTC on the exchanges, thereby killing the worth of BTC.
I suppose the plan used to be to get other folks to consider the flash crash used to be because of the damaging information (even if that damaging information used to be not anything necessary in anyway ).This took place such a lot of occasions it turned into a funny story.
In the finish the dumpers now not waited for damaging information..they only dumped and crashed the worth time and again and once more.
No one turns out to grasp who the dumper/s are, in spite of all the so referred to as marketplace and crypto mavens in the area staring at it and commenting on it. This turns out very extraordinary to me.
How about this as a believable principle. An excessively huge entity (monetary establishment or govt ect), who desires BTC to fail, buys $10 million price of BTC OTC. then dumps it on the exchanges. Price plummets. Chain response….buying and selling bots cause, worth additional plummets and strange susceptible retail buyers run screaming for the go out. Said entity sucks up the now a lot a lot inexpensive BTC and ends the day with much more BTC than they began with.
Rinse and repeat sufficient occasions and buyers transform depressed and surrender and promote their BTC’s and abandon the marketplace. Volume declines and with that the talent to transport BTC’s worth turns into even more uncomplicated. The dumper/s come again in once more and do it far and wide once more. Only this time they are able to unload much more BTC from their now even larger stash of BTC on the exchanges and reason even larger crashes.
Seeing this worth manipulation will reason larger buyers equivalent to fund managers to turn away from purchasing BTC. Volume additional decreases and ultimately BTC’s worth collapses and is now not of hobby to any individual anymore, save a handful of so referred to as cyberpunks and darkish internet buying and selling rooms once more.
If the plan used to be to kill off BTC and cryptos normally, then this plan is operating! Look at the crypto marketplace now. Look at what is occurring day by day to the worth of BTC. Look at the unexplained dumps.
Banks concern BTC. So banks kill BTC for little or no monetary outlay. $10 million is however a spit to the banks or governments. Think how much cash they could make by means of spending a poultry $10 million to kill BTC. More taxes could be raised on account of combating tax evasion by means of crypto and extra banking fees could be levied by means of the banks. Killing BTC would be the best possible funding they could ever make. BTC desires to kill the present monetary machine. I do not believe the monetary machine goes to permit that to occur and not using a combat. Since they’ve a lot more ammo than BTC does it turns out a foregone conclusion which aspect goes to win. And it ain’t BTC. Want evidence? Take a have a look at what has and is occurring to BTC.
Why is BTC repeatedly dumping in spite of its basics and technicals being sound?
Why are all the so referred to as mavens dumbfounded and with out reason for the huge decline of BTC’s worth?
Who of their proper thoughts would promote huge quantities of BTC now…at a worth degree this is now principally chump alternate.
We are being scammed other folks!