Another flash crash day! | Bitcointalksearch.org

ashmodeus

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Quote from: Aabcde on December 12, 2019, 01:02:07 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

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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

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Jack of all trades 💯

Quote from: Kotone on December 11, 2019, 11:50:40 PM

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

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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

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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

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Quote from: Twentyonepaylots on December 11, 2019, 07:45:10 AM

Quote from: nelson4lov on December 10, 2019, 05:34:31 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_

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Quote from: LouVandetta on December 10, 2019, 11:43:19 PM

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, 05:30:43 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

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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

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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

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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

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Quote from: nelson4lov on December 10, 2019, 05:34:31 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

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Quote from: youdacapt on December 11, 2019, 01:52:31 AM

Quote from: leowonderful on December 10, 2019, 05:26:24 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

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Quote from: ichsan ardi on December 10, 2019, 05:17:15 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

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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

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Activity: 1638

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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

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Activity: 3052

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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

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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

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GOD is TRUE

Quote from: leowonderful on December 10, 2019, 05:26:24 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

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Activity: 504

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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

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Quote from: cheezcarls on December 10, 2019, 03:05:13 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

Callanta787

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Quote from: Pearls Before Swine on December 10, 2019, 03:33:18 PM

Never heard of it, so I'm not surprised it crashed. Without knowing anything else about it, I would venture to guess that it doesn't have a high trading volume, probably not a strong community, and isn't traded on many exchanges. Am I correct in those assumptions?

Someone probably tried to pull a pump and dump with it, but who knows. Also, this isn't newsworthy. If bitcoin had experienced a flash crash I'd be interested. But MATIC? Come on.

Lol you are wrong, why said it crash because it doesn't have high trading volume, matic is one of the most profitable IEO on binance this year and I am surprised you never heard anything about the project, it means you aren't following crypto news much

Strongkored

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I'm not surprised by things like this, the ones who have the most potential to do this are the developer and whale because they have more coin then anyone.
Developer and whale wil blame each other and hide all their actions.
Don't wait to get a big profit when joining IEO or ICO, when the profits is above 20-50% it would be better to sell everything because soon there will definitely be a very significant price down and eventually make us stuck with LONG HOLD or even make our investment to be zero.

LouVandetta

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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, 05:30:43 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.

xZork

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There was definitely agreement from the group and binance, first pumping and then dumping. Finally, the victims were the investors who supported the group.
This is a problem that I haven't invested in any recent ICO or IEO projects. The majority of current IEOs are no different from ICOs, they just want investors' money then leave the project.

starblocks

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This is typical of a pump and dump scenario or a large holder offloading their tokens quickly with no concern for the market or even selling them slower to fetch a better price for them, and there's always some lucky traders who place lower buy orders who benefit so its not all bad and if its a reliable startup the value will recover soon enough

bitvalak

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And the point is that the IEO project does not guarantee it will be good in terms of price and development. Such speculation is common, at any exchange.
So far I don't really know about MATIC, so I can't comment too far. What is clear is always objective in putting your money in any project because any amount of exchange will not guarantee a new project can be good there.

X-ray

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thinking that every IEO is solid and reliable is so wrong. I mean, even wework that got funded by major investment firm could turns out to be a hot garbage and causes massive losses for the investors including soft bank that known to be really good at managing investment fund and not to mention that this matic project is fishy as hell. so many people are doubting it and putting the blame at the developers it's no wonder the market could be dumped that far.

huu78

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This is not a surprise I think a lot of manipulations in doing and dumps that happen very detrimental to the crowd and I think it's not a coincidence because of already planned people in them? such as manipulation in do when the pump to lure traders to buy their coins and it happened a very deep crash. It's just my estimate you can have a different argument to me.

poornamelessme

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The size of that type of dump isn't unusual, but the speed kind of is, at least for a coin in the top 100. I suppose some whales got cold fins and decided to dump all of their holdings... probably IEO holders who thought it was time to cash out.

BlackFor3st

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Quote from: cheezcarls on December 10, 2019, 03:05:13 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.

There are plenty of happenings that we will not expect about the price of the tokens that we hold, a drop of 70% is a big impact to the holders and there is a big possibility that the dumper is the team behind the project or the investors who bought a huge amount then dump it in an instant.

Because the reason is still unknown it will be best if you will check also whether that token is not being pump by a group because right now there are plenty of groups that pumps a certain tokens/coins and dump it once their target price has been reached. And not all tokens that were being launch by big and reputed exchange is good for a long term hold, you need to wise if you want to last in crypto.

ecnalubma

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Its a most common strategy of new projects nowadays that’s everyone should be watchful, It doesn’t mean it is listed in good exchanges it is less risky, its always a big risk. Maybe the team needs the money to secure the funding of their development, but if you have sold early you could avoid this mess.

fuer44

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IEO cannot guarantee the price of the token will be good in the market. if indeed this bad trend continues, even though they are doing IEO, not necessarily token will get the highest price.

notblox1

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This is 'miracle' of crypto and altcoins

You never know when something like this will happen.
People should take profits before

jossiel

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I've heard it first on social media and it was shared by the holders of it. I'm shocked that the charts actually fell down way way way down during that time.

And I guess every holder of it doesn't saw this coming so sure it's a very shocking day for them. With regards to coins like this, you shouldn't lose your confidence if you have invested huge amount on it. You have to be active or else you might miss the dumping or before it dumps while you sleep.

btc_angela

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Lol, what do you expect guys? This is a token being used by manipulators from behind, do you think that the price will go on a parabolic rise, sooner or later when whales wallet are already full and ripe for a dump to maximise their profit, just a matter of time and it did. For those who have been late to join the party, I'm sure you suffer the most damage, while those early bag holders are laughing cashing out.

tenakha

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Apparently, the last two week increase has been made by the team to be sold from a higher price: https://twitter.com/econoar/status/1204274327484420096 and proof: https://twitter.com/econoar/status/1204274424989356032
I could not find the links in the tweets, but according to the screenshots, that is the case.

jajorforce

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Activity: 399

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Binance IEO is great but problem is always exists in cryptocurrency. I saw the price of bittorrent, some of them lost hope until bullrun. Matic is now another crash. This is showing us a finger that we should rely on anything, not even Binance IEO. Although you aren't still sure that Matic coin is stable and unreliable.

nelson4lov

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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.

shinratensei_

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Quote from: ichsan ardi on December 10, 2019, 05:17:15 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.

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.

leowonderful

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Bitcoin FTW!

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.

ichsan ardi

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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.

Pearls Before Swine

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Never heard of it, so I'm not surprised it crashed. Without knowing anything else about it, I would venture to guess that it doesn't have a high trading volume, probably not a strong community, and isn't traded on many exchanges. Am I correct in those assumptions?

Someone probably tried to pull a pump and dump with it, but who knows. Also, this isn't newsworthy. If bitcoin had experienced a flash crash I'd be interested. But MATIC? Come on.

cheezcarls

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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.

Topic: Another flash crash day! (Read 497 times)