Another flash crash day! | Bitcointalksearch.org

ashmodeus

hero member

Activity: 1638

Merit: 518

Quote from: Aabcde on December 12, 2019, 02:02:07 AM

Some of my friends on Facebook talk about matic. I don't know anything about it, because I never touched a coin or token like this, I mean ieo token or coin. I think coins or tokens like this are only a game between exchange and dev. But there are some people who profit and some who lose. I see it only limited to pump and dump. So naturally, the op said that. I don't want to go in there

i've research about this flash crash yesterday , and a lot of people asking on their telegram group about too many token unlocked release.
mostly they asked about private investor or something like that.
and what surprised me here was CZ also investigating about it.

Aabcde

sr. member

Activity: 1050

Merit: 256

Some of my friends on Facebook talk about matic. I don't know anything about it, because I never touched a coin or token like this, I mean ieo token or coin. I think coins or tokens like this are only a game between exchange and dev. But there are some people who profit and some who lose. I see it only limited to pump and dump. So naturally, the op said that. I don't want to go in there

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: Kotone on December 12, 2019, 12:50:40 AM

This is probably made by the whales on binance. I pity those who hold and sell lower than that price its a really big rekt for investors. There is no vivid reason but my assumption is the manipulation of whales. Hate to join this kind of circle, admit it binance dont really care about it. Matic price will probably recovered considering lots of partnership and latest development.

I don't see any fuds coming right now so maybe those things are made by whales to manipulate the market but we shouldn't get afraid of it since provably it's a preparation stage for them for this upcoming halving that's why we should think smart these days so that we can ride them and earn when huge pump came when block halving days occur. But if you are doubting then maybe it's best to watch and enjoy later on.

o48o

legendary

Activity: 2856

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

Funny thing about it is that crash was apparently so hard to some trading bot algorithms that several altcoins took the hit on that very same moment including at least Dusk and Raven. Not as big of a crash but still noteworthy.

Kotone

hero member

Activity: 1372

Merit: 503

This is probably made by the whales on binance. I pity those who hold and sell lower than that price its a really big rekt for investors. There is no vivid reason but my assumption is the manipulation of whales. Hate to join this kind of circle, admit it binance dont really care about it. Matic price will probably recovered considering lots of partnership and latest development.

poornamelessme

hero member

Activity: 1204

Merit: 509

Quote from: Twentyonepaylots on December 11, 2019, 08:45:10 AM

Quote from: nelson4lov on December 10, 2019, 06:34:31 PM

I knew MATIC would dump. The price increased by over 300% in the last 2 months. Crypto Twitter moonboys got on board and bought the top. Most of my friends were cut pants down due to the flash crash. Anybody who didn't use a trailing stop during the pump should be bitter now. Aside from MATIC, Other Binance Launchpad tokens dumped more than 15%. I'm not surprised as they all did at least 50% recently. Bitcoin is volatility, with alts, It's even higher.

It wasn't surprising at all knowing the price pumped 300% in the past months, what would you expect to happen on the price? Altcoins does not do so much, in fact the 300% pump is a fortunate event on altcoin these days it maybe came from the whales on that community that plays along with the small ones. Actually it is not just the MATIC that dumped, many altcoins dumped too due to the seasonal changes keep in mind that it is December, people needs money for some reason.

The dump wasn't that unusual, just the speed of it kind of was. Typically when coins dump like half their value, it tends to at least take a couple of days or a week or so. At least for coins with any real volume, dinky alts can pump 3x and crash 3x in like an afternoon.

I just hope we don't see another bear (or super-bear, I guess, as we are already pretty bearish) market due to IEOs all crumbling to pieces, dragging down the entire market even further.

shinratensei_

legendary

Activity: 3080

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: LouVandetta on December 11, 2019, 12:43:19 AM

It's really unfortunate for whoever were the victims of the flash crash. And it's kinda scary to think a huge amount of orders, just fell down way too deep.

Quote from: shinratensei_ on December 10, 2019, 06:30:43 PM

It caused someone has sent 350 millions worth of matic tokens to the binance since a month ago and dump it instantly.
Read more about that https://www.newsbtc.com/2019/12/10/matic-dump-leads-to-questions-over-ieo-crypto-legitimacy/

The big question is the matic team was accusing the whale is behind all of this crap story but the fact said the different thing. The circulating supply gets increased by more than 3% based on the CMC marketcap and again how is it possible for that whale to get thematic token directly from the contract but not from the exchange site?

It just like collusion, binance is defending matic team caused by when it was coming true if the team sold a lot of the tokens in the market and binance's reputation will be destroyed.

Maybe CZ is also taking advantage from this case too.

I've seen several news regarding this before, and even binance is "defending" them with saying that matic's team has nothing to do with any of this pump and dump thing.
It might be just like you've said, if it's proven true, it might damage Binance's reputation.

It's like a nightmare to think if someone buy at the very peak which was not long ago only to see a sudden price drop.

So many people are saying they are losing their money caused by that dump. It's not even a new thing to see the projects used the whale as a camoulage to dump the tokens.
Binance just wanna defend its reputation and no more. So many people have been buying the peak price of the token and they are all now feeling panic. The chart of matic is going down again and that means the market has been losing its trust.

1500 bitcoin is a lot of money. The buyers will never try to put their money again there.
Honestly, sometimes the trusted guy can't also be trusted too. We don't know the collusion behind that hacked case.

Coin_trader

copper member

Activity: 2758

Merit: 1163

Leading Crypto Sports Betting & Casino Platform

I heard news from a telegram announcement channel that this abnormal phenomenon is an inside job. He claims that this is intentional and someone in the team is cashing out there token. They are just waiting for a week so that all of Matic supporter will forget everything and bring back to normal again the trading. Investing on Matic right now is very risky and I were you. Just fckn ignore it or burn once they sold the rest of there bag.

shodik007

sr. member

Activity: 896

Merit: 305

www.thegeomadao.com

I am really confused if it's related to the matic decline problem, if you buy when the price is 200 sats and after that see 450 sats, you have to sell it instead of holding it in the hope that it will get higher. as well as new buyers who buy when prices have touched 500 sat, what would you expect from this?

totoy4741

member

Activity: 882

Merit: 13

I think investors does not really care about the projects' success right now and they are most likely on just riding the hype on projects' few weeks or months to double their investments then dump it when the price rises up then look for another potential projects and do the same thing. It like a cycle put your money where you can get an interests, dump after the hype then jumps ship to another and so on..

Twentyonepaylots

sr. member

Activity: 1848

Merit: 370

Quote from: nelson4lov on December 10, 2019, 06:34:31 PM

I knew MATIC would dump. The price increased by over 300% in the last 2 months. Crypto Twitter moonboys got on board and bought the top. Most of my friends were cut pants down due to the flash crash. Anybody who didn't use a trailing stop during the pump should be bitter now. Aside from MATIC, Other Binance Launchpad tokens dumped more than 15%. I'm not surprised as they all did at least 50% recently. Bitcoin is volatility, with alts, It's even higher.

It wasn't surprising at all knowing the price pumped 300% in the past months, what would you expect to happen on the price? Altcoins does not do so much, in fact the 300% pump is a fortunate event on altcoin these days it maybe came from the whales on that community that plays along with the small ones. Actually it is not just the MATIC that dumped, many altcoins dumped too due to the seasonal changes keep in mind that it is December, people needs money for some reason.

Amel

legendary

Activity: 1638

Merit: 1033

Quote from: youdacapt on December 11, 2019, 02:52:31 AM

Quote from: leowonderful on December 10, 2019, 06:26:24 PM

Seems like a potential pump and dump to me as well; seems like the price was being propped up and eventually the rug was pulled which caused a large number of stop orders to trigger and people to sell, though from one of the tweets I've seen with a price chart detailing the price action, it seems like the token's returned nearly to its price before it started rising. Could've ended up worse, though considering pumps and dumps on lower-cap coins is pretty common, I'm not surprised things like this are happening.

cz and matic really maintain each other's reputation this time, but I already have a feeling since selling matic at 0.02, the price increase is very strong and premature, their community is quite large, but this time they can't at least maintain when prices are high . I await the results of their investigation, I assume this is pure manipulation.

Well I also think this is a manipulation by a group of people, and I suspect someone inside is playing. Matic was fine before and in my opinion this is a potential coin, and when experiencing this dump makes a big question in my mind, who is behind it?

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: ichsan ardi on December 10, 2019, 06:17:15 PM

sad news , really sad news , i hear recently matic have a high pump a few days ago , and what now ? crash soo sudden ? on the major exchange ? what happen ? i wonder how about their liquidation.

In fact, if it was a whale game, no one would have care about it because in this market pump-dump games of whales like this always can be, so at least the project would not be condemned by anyone. But the situation is very different, everything seems to have been planned in advance. If there is no other explanation, a new name has been added to the shitcoin list.

naikturun

sr. member

Activity: 1190

Merit: 267

Undeads.com - P2E Runner Game

maybe there are some people who have a large amount of automatic, so he who controls the price, there is no way the price that has gone up can go down drastically within 2 hours.
at the time of the last bull btc yesterday and alt decreased over 1 month, not in a short time.

ashmodeus

hero member

Activity: 1638

Merit: 518

damn it , that why i told people before , Matic is the most hyip IEO on this year.
firstly,did u remember the first airdrop matic from binance for simple task about matic wallet ?
i get 5000 matic from it, and on that time its just about 20 usd .
but , if i waiting for a few weeks , the price going crazy up to 80 usd for 5000 matic, and from it , i know exactly matic is a crazy investement , such as coin coin on 2017 .
and after it , i stopped follow about matic project , and of course i really shocked seeing the price drop suddenly from 0.036 to 0.016 .

Reid

hero member

Activity: 2870

Merit: 642

It is not yet perfect.
Some said it could save the ICO based projects but yet this happens.
I guess you still need that DOYR. I mean go deep. Are they really that willing to do anything for their token to survive what traders could do to their market.
It could be played. I am seeing this kind of reasons into why they fell. They should stop blaming the bounty hunters.

Pamadar

legendary

Activity: 2982

Merit: 1028

After that huge run previously, might be possible that the whales who are satisfied with the profits that they've got already dumped the coins that they're holding. Possible also that this is just another artificial movements which can lead to another pump scene after those weak holders sell out as panicked about losing everything take place inside their minds.

youdacapt

sr. member

Activity: 1806

Merit: 295

Quote from: leowonderful on December 10, 2019, 06:26:24 PM

Seems like a potential pump and dump to me as well; seems like the price was being propped up and eventually the rug was pulled which caused a large number of stop orders to trigger and people to sell, though from one of the tweets I've seen with a price chart detailing the price action, it seems like the token's returned nearly to its price before it started rising. Could've ended up worse, though considering pumps and dumps on lower-cap coins is pretty common, I'm not surprised things like this are happening.

cz and matic really maintain each other's reputation this time, but I already have a feeling since selling matic at 0.02, the price increase is very strong and premature, their community is quite large, but this time they can't at least maintain when prices are high . I await the results of their investigation, I assume this is pure manipulation.

TanakabZX

member

Activity: 504

Merit: 16

why all the noise about Matic price lose? Binance screened the project before listing them so they are not scam and I think its a good time to start buying, more over Magic has good real use case.

Matic Network describes itself as is a Layer 2 scaling solution that uses sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.

zeze18

sr. member

Activity: 938

Merit: 256

Quote from: cheezcarls on December 10, 2019, 04:05:13 PM

MATIC, the digital token based on the Matic Network saw its price drop by a whopping 70 percent earlier today. Up until yesterday, the price of the scalability-focused asset was holding steady at about $0.042.

However, due to reasons still unknown, the price dropped to $0.013 in less than an hour, two weeks after pumping almost 180 percent. At press time, MATIC is trading at $0.0196.

Source link here

I know how it really feels. I can somewhat relate to you guys for the other tokens (I mean shitcoins) that I hold dearly. Most of the ICOs and IEOs really suck because after getting listed to exchanges, they don't have market makers or enough budget to liquidate the price.

At first, I just thought that those projects who are doing IEO on Binance are going to be solid and reliable.

However, I just realized that after this news happened, it means that not all of them are going to be successful, even if they do IEO in the world's most popular exchange.

For MATIC token holders out there, I just felt bad about you guys after the flash crash of around 70% of the value in just an hour.

This kind of tragedy that made crypto investors are running away because no one can guarantee our assets value is safe because an altcoin could drop this deep. There must be the mafia behind this incident so the people who know it should uncover this thing and make people who are already invest or new investors are not afraid to invest in a good project

Topic: Another flash crash day! (Read 436 times)