BTC Dump: Pure Whale Manipulation - page 3.

coin-investor

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Quote from: jonathan6655321 on June 04, 2019, 08:26:24 AM

The BTC dump today was completely manufactured:

About 20-30 mins before the dump, a whale moved 25k BTC (worth $215M) to Coinbase.Link

About an hour after the dump, a whale moved 14k BTC (worth $112M) from Coinbase to another wallet: Link

40 mins after that, a whale moved 11k BTC (worth $88M) from Coinbase to another wallet: anchor

15 mins after that, a whale moved 10M USDT from one wallet to another: Link

If you do a little math and follow the timeline, it's not hard to see that someone dumped 25k BTC for $215M and bought it back shortly after for $200M. In doing so, they pocketed $15M and walked away with the same amount of BTC as they started with.

Fuckers.

Edit: For all those saying that no one was complaining when a whale entering the market drove the price us. No shit, all boats rise in that situation. In the one we're talking about here, only one group of people benefit whereas the vast majority are negatively impacted. That's the difference.

Source for the original post

Very well said it is a good analysis and the sad part is, they can do this over and over again, but what can we do it's an open market and this is always subject for manipulation, Bitcoin has a lot of whales around it, something should be done about this in the future.

electronicash

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Quote from: NeverSop on June 04, 2019, 10:17:48 AM

The market will still be affected by smudges of manipulation. This obviously exists. it only rotates faster when the explosion starts and goes to the shore. Only misconceptions and panic begin to move. This is similar to most of the years.

it happens every time so there ain't nothing new anymore. the climb of the prices to the top will keep on going since all the we might see in the coming days are altcoins rising more than 100%. kind of a new manipulation i see is every time btc goes up, expect altcoins to be bought. marketcap doesn't change but altcoin price gooes up.

Nadziratel

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It's just an ordinary move that someone with a lot of money has to make more money. And unfortunately, the market is badly affected. There's nothing we can do for now. The psychological factors in the market allow it.

Felisk99

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Quote from: klaaas on June 04, 2019, 09:55:03 AM

It isnt changed in all the years that whales moving the prices, it work both ways. On a counter it could attract more whales that want to join inn and push the price.

That's what i fear most, that such operations are going to show other wealthy people that making money on BTC can be ridiculously easy and if more whales are going to enter the game, such manipulations are going to happen more often. It may be sad, but that's how the world looks like. We can't be hypocrites saying that those people are scumbags when it comes to dump just to be okay with bears, which are also hugely influenced by such transactions. The market is still very volatile, but that's what makes a chance for people like us to invest and have some pie too.

NeverSop

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The market will still be affected by smudges of manipulation. This obviously exists. it only rotates faster when the explosion starts and goes to the shore. Only misconceptions and panic begin to move. This is similar to most of the years.

Pipdips

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Quote from: jonathan6655321 on June 04, 2019, 08:26:24 AM

The BTC dump today was completely manufactured:

About 20-30 mins before the dump, a whale moved 25k BTC (worth $215M) to Coinbase.Link

About an hour after the dump, a whale moved 14k BTC (worth $112M) from Coinbase to another wallet: Link

40 mins after that, a whale moved 11k BTC (worth $88M) from Coinbase to another wallet: anchor

15 mins after that, a whale moved 10M USDT from one wallet to another: Link

If you do a little math and follow the timeline, it's not hard to see that someone dumped 25k BTC for $215M and bought it back shortly after for $200M. In doing so, they pocketed $15M and walked away with the same amount of BTC as they started with.

That is truly some fancy footwork right there. It is a thing of beauty and I pretty much love it! If any whales are reading this, personal message me. I would like to work for a whale. Whales are the real winners in the game of cyrpto-currency!

Apes

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bad day for btc. Today's market is so bad I worry about seeing it like this. while people expect hype with a climbing market. whale actually worsens the market, they are market killers, I hope there are regulations that regulate whale do not arbitrarily sell btc and ruin the global market.

klaaas

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It isnt changed in all the years that whales moving the prices, it work both ways. On a counter it could attract more whales that want to join inn and push the price.

Haunebu

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Quote from: bittraffic on June 04, 2019, 09:38:55 AM

Aren't those guys who manipulate these market known to the exchanges the fact that they submitted KYC well assuming they submitted real IDs. How come these guys are not really alarmed?

Because what they are doing is not against the laws strictly speaking. The thing that many people are forgetting here is that they are risking a ton of money here and they deserve the reward.

Quote from: bittraffic on June 04, 2019, 09:38:55 AM

Its no however illegal to accumulate but I hope to see them getting burned in the future when whales clashes. Like if someone whale dumps and all he dumped were bought aggressively by the other whale.

No one is stopping anyone from doing what this particular whale has done since this is a free market. Everyone are aware of the risks involved here. Its pointless trying to blame someone else who just wants to earn profit just like you or anyone else for that matter.

roosbit

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It's the hard truth about how bitcoin and other cryptos work and in the absence of a central power whales actually run the show around here...guess in the crypto ecosystem you are either a passenger or the driver, choice is yours.

Besides this I really expected crypto to be getting new capital pumped in based on the current trade wars but seems this whole process is a slow one and we need to wait for this to happen.

bittraffic

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Aren't those guys who manipulate these market known to the exchanges the fact that they submitted KYC well assuming they submitted real IDs. How come these guys are not really alarmed?

Its no however illegal to accumulate but I hope to see them getting burned in the future when whales clashes. Like if someone whale dumps and all he dumped were bought aggressively by the other whale.

DdmrDdmr

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Crap, I just wrote about this on my local board, and in the spirit of having done so correctly, I presumed that the comments in the OP were original and not a copy/paste from the source (the "Fuckers" and the "Edit" led me to believe that it was the OP’s wording, and got me of my guard checking the OP vs the referenced link when meriting it). This is why I consider a copy/paste + link too damn close to plagiarism, and although it is not technically so on this Forum, it bloody well should be (unless the content is of dire need to be communicates as is).

Anyway, whales are around and we can only expect them to reproduce at a rate than is natural on par to the incorporation of institutional entities. That’s why I consider BTC no as a decentralized utopia, but rather more as a "concentrated" one, where specific concentrations of power exist enough to shift the market on one or multiple plains (code, mining, exchanges, price, legislation). Nothing new under the sun here, but simply not as decentralized as the original spirit meant it to be.

buwaytress

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Nobody calls them out for f*ckers when they do the same thing and then price spikes up the opposite direction of a dump, though, yeah? Was only a little over two months ago (remember April Fool's 2019?) when we shot up 15%, and then it was all traced supposedly by Chainalysis if I recall, to a single actor/entity who coordinated his buys across three different exchanges.

So we take the good with the bad, it's okay. Go buy BTC now while you can;)

kingcolex

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This is how Bitcoin works, people make big buys or big sells and the price reacts, they know it and can take advantage of it.

The United States has already declared Bitcoin and Ethereum not a security so I'm pretty sure it's all 100% legal and no exchange will be against it. The whale will either sell more or buy more, it you don't like it hold until you're ready to sell.

AjithBtc

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I too believe it is a manipulation from big whales, now people will fear of making investment that takes the price further reaching $10000 which is an expected price barrier to be reached as it has crossed $9000 few days back. Now this gets used by the whales and will be made as an profiting. Most of the time whales try to keep the common people under their control.

jakelyson

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They are not whales for nothing. Either they were really rich and bought a lot of bitcoin before or they trusted this system well ahead of us when it was still pennies. Can we blame them if they make a move to make a profit now? No, we can't.

What we can do is anticipate their move (if we can) or react positively if they dump. We can still make profits on trades even if they dump the price if we play it right.

Genemind

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We can't deny the fact that whales are contributing an impact in the pump and dump of the market but we must know that there are also different factors which affects the market. We must not blame them because we also benefit whenever there's a big pump.

Dapper

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One thing you can do is lower your expecations. Be happy with a $2500 gain in a month. It's a dream come true. Be happy with a $500 gain in a day. Sorry, you probably won't make $500k in a day (some will make more, most will make less). Because you don't have that much invested, some people do... because that's life.

Ailmand

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We can't control the market as whales do because they have a huge advantage to manipulate the market. They could change the market situation through their actions. The best thing that we can do to deal with the changes is just to take advantage of every situation as well. We can't do anything against whales.

CryptoBry

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I understand what you are trying to tell us and indeed this can be a little (or you can say it is actually very, very, very) disappointing. However, the reality is that there is nothing we can do about it. In the same way that we are helpless in the face of so many scams and failures associated (falsely or rightly) with this industry, so in this case the owner or the whale has all the freedom to do what he wants to accomplish be it manipulation or not. However, we should not worry that much because actually every dip is a great opportunity to buy bitcoin at a cheaper rate...look at this at the brighter side and if all of us will do that we are actually giving bitcoin a big boost.

Topic: BTC Dump: Pure Whale Manipulation - page 3. (Read 652 times)