BTC Pumping After The Arrest of Sam | Bitcointalksearch.org

Hamphser

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Quote from: Wong Gendheng on January 25, 2023, 10:04:49 AM

Quote from: cryptocoupons on January 24, 2023, 07:33:57 PM

I don't think the Arrest of Sam has anything to do with this.

Right, bitcoin marketcap is currently around $450 billion and I'm sure it's very difficult for anyone or company to be able to pump or dump, some time ago a lot of people got their hopes up with elon musk but when they sell bitcoin market stock it doesn't drop significantly, or vice versa when he plans to buy bitcoin but the market is not really responding and this is a testament to the power of decentralization.

Its all random imho and there's no way that we could really tell that these fundamentals are precisely affecting Bitcoins price in some point.We could make out some assumptions that it is really that relevant but there

are times which its been mostly ignored and the price could move up independently without basing or relying on what are the current market issues and events that we could look upon.This is what makes things even
more harder for us to guess and predict on on what would be the next thing to happen.We've seen lots of issues and other huge events neither positive or negative ones
but not all the times they would really be making that effect.

STT

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Its news parallel, correlation not causation or something along those lines. The way it could be phrased is exhaustion, theres only so many idiot scenarios to fuel the negative jet engines. When they die, we stall in that momentum downwards. It really does not mean we now have to go upwards and all is well, we can react upwards and that move too can sell after some period.
Sam is not part of BTC is how I view it, I know he is in this universe but really its not enough to be important for BTC every day doing what its done for ten years; does he matter in that context no its just another sideshow.

Wong Gendheng

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Quote from: cryptocoupons on January 24, 2023, 07:33:57 PM

I don't think the Arrest of Sam has anything to do with this.

Right, bitcoin marketcap is currently around $450 billion and I'm sure it's very difficult for anyone or company to be able to pump or dump, some time ago a lot of people got their hopes up with elon musk but when they sell bitcoin market stock it doesn't drop significantly, or vice versa when he plans to buy bitcoin but the market is not really responding and this is a testament to the power of decentralization.

cryptocoupons

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I don't think the Arrest of Sam has anything to do with this.

Popkon6

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The owner of FTX liquidated its reserve assets, causing the coin, along with its exchange, to go bankrupt. And he certainly deserves the punishment which is imprisonment. If the owner of FT X keeps the assets in his own possession, this consequence does not touch him today. He could manage everything properly which succeeded in taking him to the pinnacle of development. This is his consequence today for scamming. These things happen to greedy people.

Kemarit

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As others have said, the price increased has nothing to do with SBF. On the other hand, what he did was really put the price into a lowest low. And now we are back to where we should be before the collapse.

For sure others are very happy to see the price at $22,000-$23,000 that should be our levels around November.

In any case, we could only hope that justice will be served in this case, and those who are responsible should be put to jail.

stadus

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You actually miss the news OP.
But anyways, whatever is the reason for the said price increase, we're too happy to see that. It was the fact that the market has always been affected not only by the FUDs but also with the positive news. People started to trust and buy more Bitcoin after the FTX issue, and the price started to recover back. However, it was not enough to keep the increase on the momentum and this is probaby because many people are also waiting for the pump and sell their Bitcoin. Too unfortunate but this is really happens in the market, we can't urge everyone to hold long-term - some get weak and sell.

EarnOnVictor

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The arrest of Sam has nothing to do with the buying of Bitcoin, the coin was nothing encouraging more than a month after the arrest of the guy. That's why I like people to be so speculative and stop relating what is not to the market. What is happening now is purely economic as US inflation is not rising anyone, it's stabilizing after two months' reduction.

This is good news for Bitcoin that inflation affected since 2021, so it would rise. And the market sentiment is now bullish since the long timeframes are now responding to the bullish impact on the chart caused by the ease of inflation.

KingsDen

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Quote from: Vaskiy on January 16, 2023, 05:56:32 PM

Quote from: Ucy on January 16, 2023, 12:36:14 PM

This kind of news would not make Bitcoin excited or move up as long as the ones who control it are not excited seeing people arrested or punished.
The bull was actually predicted last year and early this year by Bitcoin Master and it has been moving exactly as predicted.

Whenever something happens related to the crypto market, people easily makes some connection to the price movement. This something like a coincidence than the real factor behind the market movement. As said by the above user, it is predicted to have a bullish start due to the market getting prepared for the upcoming year's halving. Till now no one is sure, whether the market movement will last for longer time period or not. The market price have crossed $21k and the same could reach around $25k and stabilise for the next breakout.

The beauty of the crypto-currency market is that the essence of fundamental analysis is not underrated.
The market does not move on its own unless something ignite it to move and also in like manner the market does not drop on its own unless an active force push it to drop.
Therefore anything that affects the price almos is somewhat related to fundamental and it is totally not out of place if anybody links it today happenings in the economy.

The topic creator might be wrong relating the recent bull market to the arrest of Sam and in other hand he could also be correct because of the recent discoveries of monies related to FTX.

Dickiy

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I'm not sure about that, because Sam was arrested and the market became bullish?
Who is Sam Bankman to the market, he has nothing to do with the market except the crash.
the recent uptick is as it should be we are at the current level, Only the crash of FTX last time when the market was bearish added a deeper wound to the market.
I Think, Bullish news in early January that supported bitcoin pumping is such as the follow-up to the development of Bitcoin ETF futures investments by Blackrock, Cycle and Coinbase, touching the Moving Average and many more.

Nrcewker

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Nope that’s not true OP. Sam’s arrest doesn’t have any relation with the increase in price. The price only gets fluctuated when the traders interfere in it. The price of the coin increases when the demand of the coin increases. Bitcoins follow the policy of supply and demand. And as the supply of Bitcoins are limited, so when the demand increases the price automatically increases in order to fulfil the demand. The reverse also happens. You can also notice that there are more buy orders in any exchange when the price of the coin increases.

Sebas.tian

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I don't think, it's the arrest of Sam that made the price of Bitcoin to increase higher this year, because Sam is just an investor so he don't have the power to control the price of Bitcoin in the market. Many traders Carried out research early last year to saw what this year 2023 will turn into in the community which will be for the favour of long term traders and short term traders. Now that the price of Bitcoin has hit $21,732, showed that this year will be more better than last year because the price of Bitcoin started displaying some signs that made many traders to have hope of achieving something good in this season.

_BlackStar

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I can't believe the rise in the bitcoin price since early January this year was due to the SBF being arrested. There should be more reasonable reasons to say and it's like oversold or maybe it's time for bitcoin to recover. People won't be as panicked anymore, and it seems most of us agree that bitcoin won't touch $15K again this year.

Even though there may be good enthusiasm among investors after the SBF arrest, but the correlation may be very low and low. Even some time ago I also heard about the compensation from FTX, but still the effect is not comparable to the current increase. I tend to think The FED has a big role to play in current price move and its policies have sparked investor interest in investing in bitcoin and other stocks.

stompix

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Quote from: OnZen on January 16, 2023, 08:54:40 AM

I had a laugh at this, for sure the green arrow was needed, some could have mistaken SBF for the other two guys with police hats!
It's like in those crash videos where there is only one car visible but somehow the author still finds the need to point a red arrow at it, to make sure you don't look at the sky or something like this! Wink

Quote from: AnonBitCoiner on January 16, 2023, 12:12:14 PM

This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.There are still many other reason also like MtGox changed his mind.

The main reason was CPI data and speculation that FED will finally change its policy on interest rates.
The biggest hike during this bull run happened exactly as the numbers were released:
https://www.coindesk.com/markets/2022/12/13/bitcoin-as-november-inflation-data-shows/
A lot of shares also had a bump on that day, even Tesla managed to get a 10% back, the whole Nasdaq index went from 10,305 to 11,095 and shares are far less volatile than crypto.

The recovery of funds from FTX just kept the fire burning but alone they wouldn't have meant much.
Overall positivity is what brought this pump, not SBF or CZ or anyone else.

goaldigger

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Quote from: dragonvslinux on January 16, 2023, 07:25:40 PM

Not convinced the situation is that related. Once $18K levels broke many expected $14K, $12K or $10K, but instead price moved sideways then broke to the upside.

I can’t see any relation as well with the arrest of that guy since the money that recovered is still on their side and not to the real holders yet. There’s a lot of good news happened early this month though another rumor that BTC will still go dump because of the new negative issues, i guess the bear is still here and if BTC fails to hold on to $21k level, then we can expect correction again or worst the down trend. Consider other news as well, it can affect the whole market especially with regards to Bitcoin.

darewaller

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Quote from: Frankolala on January 18, 2023, 04:53:21 PM

Recovery of $5B cypto assets by FTX has contributed to the high in bitcoin price,many people will see it as good news and they will want to invest into bitcoin. The politicians and influencers who are encouraging SBF in the shitty game can even pump in funds just to influence the crypto market.

The bullish market hasn't come yet,we are enjoying the little increase which might not last but I wonder if bitcoin might go back to the bear market ant might be below 15k. this year or will it not go below 20k anymore due to FTX recovery of some funds.

$5B really? But, it's great that they still recovered it. The total amount scammed was $8B right? I am not sure if they still can find this missing piece because it was probably used for the different activities of SBF. If we want to invest in Bitcoin, we don't need to wait for a positive signs like this.

I know it's not an attempt made by whales to trap the investors but there are still a possibility that the price could collapse because there will be people who will sell their BTC once they see an increase. The best time to invest is always when the price is low. Until now there are still people who believes that the bottom is not achieved yet so maybe $15k or below than it is still possible.

TravelMug

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Quote from: Frankolala on January 18, 2023, 04:53:21 PM

Recovery of $5B cypto assets by FTX has contributed to the high in bitcoin price,many people will see it as good news and they will want to invest into bitcoin. The politicians and influencers who are encouraging SBF in the shitty game can even pump in funds just to influence the crypto market.

Not sure if this is the scenario that we all expected, there are a lot of money lost here and those who have lost big money? I doubt that they will reinvest it to bitcoin or any crypto asset. The FTX collapse put a bad taste to this investors.

Quote from: Frankolala on January 18, 2023, 04:53:21 PM

The bullish market hasn't come yet,we are enjoying the little increase which might not last but I wonder if bitcoin might go back to the bear market ant might be below 15k. this year or will it not go below 20k anymore due to FTX recovery of some funds.

This is just a recovery that we have been seeing, yeah, so it's not a bull run.

We will have to see, so far the market is very positive so hopefully we will not go back to $15k or new lowest low for this year.

coupable

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Quote from: Accardo on January 16, 2023, 11:27:34 AM

Quote from: coupable on January 16, 2023, 09:56:13 AM

However, this cannot be the reason for the price improvement, because it has occurred since the beginning of last month. Moreover, stopping him does not solve the crises in which the market occurred because of him, because he simply cannot compensate for the losses because the value of his property and the property of the platform exceeds the compensation that is supposed to be paid to the direct affected users of the platform.
The improvement in market prices in recent days may be caused by the announcement of the start of disbursing compensation to those affected by the mtgox scam, starting next March, and the announcement of Ethereum about the fork, which will enable the beneficiaries of staking services to withdraw their money.

It's easier to predict the reason to a plunging bitcoin price compared to the bullish bitcoin price. They are many criterion starting from the market makers, whales and individuals in the market who can impact positively to the market price. I think we should be more concerned about how far it'll go and worry about if it'll go back bearish. Guessing over the reason we are making profits shouldn't be a problem as we may be predicting wrongly.

Since we are in a period of decline and stagnation, it is difficult to study the price movement if it takes an upward trend. I agree with you that the improvement in the price does not represent a sign of market recovery and that we are still far from the expected state of stability. And since all expectations indicate that the turnout rates for the use of crypto services platforms have decreased significantly, and that restoring their confidence will require a long time, the length of which cannot be predicted. Personally, I like when prices go down because this is an opportunity to buy Bitcoin.

Frankolala

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Recovery of $5B cypto assets by FTX has contributed to the high in bitcoin price,many people will see it as good news and they will want to invest into bitcoin. The politicians and influencers who are encouraging SBF in the shitty game can even pump in funds just to influence the crypto market.

The bullish market hasn't come yet,we are enjoying the little increase which might not last but I wonder if bitcoin might go back to the bear market ant might be below 15k. this year or will it not go below 20k anymore due to FTX recovery of some funds.

TimeTeller

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Quote from: Fundamentals Of on January 16, 2023, 09:03:52 PM

This is late reaction if you want to connect Bitcoin's increase in its price and the arrest of Sam Bankman-Fried. Sam was arrested weeks ago. In fact he is even already set free. He is allowed to set bail. So this rise in the price that we are seeing for the past days is not caused whatsoever by the arrest of Sam. It isn't related at all. The rise of Bitcoin's price is of course brought by more than one cause but it is mainly demand-driven. And people don't buy Bitcoin simply because Sam was arrested.

Seems that the OP is bit late with his reaction, but btc pumping is not owed to SBF's arrest.
Yes, he is free because of the multi-million dollar bail. I believe there's sudden increase because FTX said that they located about $5B of assets.
Now, if it will be distributed to its investors, we don't know yet. We have no idea what they will do to those located assets.
I believe it is also the contribution of other positive news why we surpassed the 20k level, it should not be focused only to the FTX case.

Reid

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Someone was arrested and Bitcoin's value goes up? That's not how the market works. There must be demand first. Now, they are saying some funds were found which means it would go back to the victims and if they won't try to sell it for another coin or cash then it could be the reason for the increase.

When a price surge happens, it could be contagious. When investors witness that it won't stop then they will try to ride the wave which means another increase to the value of Bitcoin. No one is buying at FTX anymore, it's gone. Maybe their former investors have now found a way to purchase with another exchange and is trying to accumulate again.

Fundamentals Of

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This is late reaction if you want to connect Bitcoin's increase in its price and the arrest of Sam Bankman-Fried. Sam was arrested weeks ago. In fact he is even already set free. He is allowed to set bail. So this rise in the price that we are seeing for the past days is not caused whatsoever by the arrest of Sam. It isn't related at all. The rise of Bitcoin's price is of course brought by more than one cause but it is mainly demand-driven. And people don't buy Bitcoin simply because Sam was arrested.

sheenshane

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It's an irrelevant conclusion that Bitcoin pumped because Sam was arrested, it was just a correction nothing else. Besides, that's old news and Sam now wasn't in jail.

Quote from: AnonBitCoiner on January 16, 2023, 12:12:14 PM

This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.

Because of them, Bitcoin prices suffered.
FTX + Binance failures have a great impact on the market. But now has recovered, because the FUD has been done.
People have learned and stopped being panicked.

dragonvslinux

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Not convinced the situation is that related. Once $18K levels broke many expected $14K, $12K or $10K, but instead price moved sideways then broke to the upside.

Popkon6

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He must face punishment if he does anything illegal in crypto currency. Because many investors invested here, this money must be accounted for. Meanwhile, the cryptocurrency will not need any liquidity as the price of Bitcoin has reached the lowest level. Now that the price of Bitcoin has increased a bit we are very encouraged. Because investing in the past was very expensive, it takes a lot of time to recover and the price needs to be higher. Thousands of investors like me are in dire straits. So the current bull market will definitely increase the Bitcoin price.

Vaskiy

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Quote from: Ucy on January 16, 2023, 12:36:14 PM

This kind of news would not make Bitcoin excited or move up as long as the ones who control it are not excited seeing people arrested or punished.
The bull was actually predicted last year and early this year by Bitcoin Master and it has been moving exactly as predicted.

Whenever something happens related to the crypto market, people easily makes some connection to the price movement. This something like a coincidence than the real factor behind the market movement. As said by the above user, it is predicted to have a bullish start due to the market getting prepared for the upcoming year's halving. Till now no one is sure, whether the market movement will last for longer time period or not. The market price have crossed $21k and the same could reach around $25k and stabilise for the next breakout.

dunfida

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Quote from: AnonBitCoiner on January 16, 2023, 12:12:14 PM

This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.
There are still many other reason also like MtGox changed his mind. First they given date if repayment in January and now they will make repayment in March Which reduced the fear of traders. New year start will be also a factor for Bitcoin pump because we have seen many times that big investors usually buy in the start of the years.

Really hard to point up some fingers when it comes to reasons on why price had made out some recovery.People do really love to spot out things specially in prices where it do came from
pertaining into pre-FTX issue price which is totally true on what CZ said but to be exact and precise then it would really be that hard to be precise on whats the actual reason.
This is why im not really that making myself that get stressed on why the market or Bitcoin do make out some pump which actually it is really just a small percentage
basing up on how deep we are speaking with the current value that we do have now as of this moment.

NicNacCoin

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Sam Bankman was arrested a long time ago. The news you posted is almost old news. He was arrested for the crime he committed. But his father bailed him out of jail. He is currently on bail. There is currently market pumping but nothing to do with Sam Bankman. The market is currently pumping a lot due to exchange pressure and some good news. From here, the market may start moving upwards. Those who invested and waited for the market to pump up their wait are now at a much higher level in the market. Those who invested between $15,000 and $16,000 have a huge profit today. If you hold more, the market will definitely increase.

Z-tight

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Quote from: OnZen on January 16, 2023, 08:54:40 AM

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest.

The small pump didn't have anything to do with his arrest which happened weeks ago.

Quote

This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

Nobody endorsed BTC because Sam was arrested, BTC has nothing to do with Sam and if people are going to endorse BTC, it is because of what the network is and not about Sam. I believe you are part of the people who think that the ftx dram affected BTC's reputation, i know many people think that way, when an exchange collapses, or an altcoin plunges; people generalize it that BTC had a problem, but it didn't, ftx went down, and many exchanges and centralized services will or can go down in the future, but it has nothing to do with the BTC network that is safe and secure; the price can fall with some of the bad news, but the network is safe from collapse.

Ucy

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This kind of news would not make Bitcoin excited or move up as long as the ones who control it are not excited seeing people arrested or punished.
The bull was actually predicted last year and early this year by Bitcoin Master and it has been moving exactly as predicted.

Mpamaegbu

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Quote from: headingnorth on January 16, 2023, 12:21:23 PM

Bankster-Fraud probably bribed them to write such a good things about him just as he bribed the American politicians, who are mostly crooks themselves.

That practically answered the question you asked in the second paragraph of your post – on why the media dang his praises. I read about how he doled out cash like a very wealthy philanthropist to politicians, especially the Biden campaign. Show me anyone who doles out cash to politicians and wouldn't do same to the media. Is there any? None. The ilks of Sam Fried (BTW, your new coinage for his name is hilarious and seems to fit well) is the reason this industry continues to get a bad name. Greed won't allow most of the devs and teams do the right thing by keeping it straight and honest.

Rruchi man

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BTC started has started pumping after many events not only the arrest of Sam. That is probably just the most negative event that you remember. A lot has happened in the past year and this pump is a breath of fresh air to everyone still Holding. This pump has been expected so it is not just because of Sam's arrest. The pump even if it doesn't go all the way up to give a new ATH, it offers hope and reassurance that the market still has the ability to bounce back.

headingnorth

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Never trusted Scam Bankster-Fraud and glad I never bought or sold anything on FTX. Very suspicious about why he was always promoting his scam tokens while talking bad about bitcoin.

Why were the major media always praising and promoting this guy as the face and leader of the crypto space when he has no track record to speak of? He just came out of nowhere and no one ever heard of him before but the media were already calling him the next Warren Buffet. This always gave me pause and luckily my instincts were correct. The way he dresses and looks like a homeless person with disheveled appearance was a turn off for me as well. The media should be prosecuted for aiding and abetting this criminal imo.

Bankster-Fraud probably bribed them to write such a good things about him just as he bribed the American politicians, who are mostly crooks themselves.

AnonBitCoiner

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This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.

There are still many other reason also like MtGox changed his mind. First they given date if repayment in January and now they will make repayment in March Which reduced the fear of traders. New year start will be also a factor for Bitcoin pump because we have seen many times that big investors usually buy in the start of the years.

Woodie

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I remember seeing some headline over a week ago that was saying Sam Bankman was denying the allegations made over FTX being insolvent and I guess his memory did come back after all to help locate where this missing money was.. but going forward some laws should be drafted asap to prevent these guys from playing around with money that isn't theirs.
Btw the recent Pump could be to do with anticipated recession to hit the US in Q1 and people could be looking to bitcoin and other cryptocurrencies to protect their financial situation before it hits.

Accardo

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Quote from: coupable on January 16, 2023, 09:56:13 AM

However, this cannot be the reason for the price improvement, because it has occurred since the beginning of last month. Moreover, stopping him does not solve the crises in which the market occurred because of him, because he simply cannot compensate for the losses because the value of his property and the property of the platform exceeds the compensation that is supposed to be paid to the direct affected users of the platform.
The improvement in market prices in recent days may be caused by the announcement of the start of disbursing compensation to those affected by the mtgox scam, starting next March, and the announcement of Ethereum about the fork, which will enable the beneficiaries of staking services to withdraw their money.

It's easier to predict the reason to a plunging bitcoin price compared to the bullish bitcoin price. They are many criterion starting from the market makers, whales and individuals in the market who can impact positively to the market price. I think we should be more concerned about how far it'll go and worry about if it'll go back bearish. Guessing over the reason we are making profits shouldn't be a problem as we may be predicting wrongly.

As for SBF's arrest being the reason to an increase in price it's wrong, if he has been tried and accepts to refund affected customers their money then it could help the market go back in place. Since the crash of his company affected the market price, fixing his mistake can help the correction of bitcoin price. I think at the moment, bitcoin price has not moved so bullish to call it a bull run we are still bearish. Wait for 30k

kryptqnick

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I thought it was a new development, following his arrest and bail earlier, but it seems that it's not the case and the op just wasn't aware of the situation. Something fresh did happen, though, as according to CNN, he spoke out for the first time since arrest just 4 days ago, and the price has been on the rise since then. That being said, it's merely a correlation, and there's no good reason to believe there's a causal relation here. Whether this guy is going to prison or not remains to be seen, but it's good that this situation is being investigated, and I really hope that the victims will get at least some of their money back.

Erumo

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Quote from: Osama Maaz on January 16, 2023, 10:22:52 AM

In my opinion the last dump from 18k$ to 16k$ is directly the impact of FTX treasury, So when we see some positive news about crypto us inflation numbers then we break the resistance with an extraordinary volume and after the break of 20k price , We pass the physiology briar and now FOMO traders jumps in which takes the price to further fights , So Now its expecting that we might come a little down but we need to see some further pumps before coming to retest 18,19k levels .

Why do you think Bitcoin is going to retest something? Several years ago, Bitcoin has climbed from 18k to 40k in about 45 days and there we no price drops more than several percent. Not like 10-15% as you say it is going to retest bottom. So why think this time it would be different? Imho, it looks more that we are going to stuck on that 20-21k level for quite a time, and then... Nobody can predict what will be then. Chinese New Year, 1 year Russia-Ukraine war, new sanctions, scams. Anything can happen dude.

Osama Maaz

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In my opinion the last dump from 18k$ to 16k$ is directly the impact of FTX treasury, So when we see some positive news about crypto us inflation numbers then we break the resistance with an extraordinary volume and after the break of 20k price , We pass the physiology briar and now FOMO traders jumps in which takes the price to further fights , So Now its expecting that we might come a little down but we need to see some further pumps before coming to retest 18,19k levels .

retreat

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That's not the reason for Bitcoin to go up at the moment, it's more to the decline in US inflation and the good news from the FED which encourages investors to invest their money in the market and that's what drives the price of Bitcoin to increase significantly from $ 18K - $20K https://cointelegraph.com/news/why-is-bitcoin-price-up-today.

coupable

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Merit: 757

However, this cannot be the reason for the price improvement, because it has occurred since the beginning of last month. Moreover, stopping him does not solve the crises in which the market occurred because of him, because he simply cannot compensate for the losses because the value of his property and the property of the platform exceeds the compensation that is supposed to be paid to the direct affected users of the platform.
The improvement in market prices in recent days may be caused by the announcement of the start of disbursing compensation to those affected by the mtgox scam, starting next March, and the announcement of Ethereum about the fork, which will enable the beneficiaries of staking services to withdraw their money.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: OnZen on January 16, 2023, 08:54:40 AM

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest.

Actually the arrest was some more time (weeks!) ago.
If we want to link the pump with FTX, a newer update was that SBF has found some $5 billion of the FTX money "in his back pocket" (about 1 week ago).

Quote from: OnZen on January 16, 2023, 08:54:40 AM

This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

While some of the politicians and media he was paying would like him stay out and pump more money, the bitcoiners know that
* he ran something between fractional reserve and plain Ponzi scam
* he most probably did scam
* he most probably deserves prison time

Even more, bitcoiners know that
* bitcoin reputation was affected only in the eyes of those who have absolutely no clue about bitcoin
* if people would keep their money in their own custody, this kind of crap would have no fuel to happen

coolcoinz

legendary

Activity: 2618

Merit: 1103

This is old news. Sam is already out on bail and is not coming back to jail unless he tries to flee and gets caught or commits another crime while on bail.
If there's any connection between FTX and bitcoin pump it's that the liquidators claim to have found most of the money that used to be considered "lost" by FTX. It appears they still had over $5B in various assets lying around but due to their bad management they didn't know what is where.
I'm just waiting for them to announce that FTX really wasn't insolvent and Sam the idiot forgot where he kept the money Cheesy

P.S. The real reason for the pump was a short squeeze on exchanges.

OnZen

jr. member

Activity: 58

Merit: 6

Hello WO buddy's Onzen is back

Sam Bankman Fried was recently arrested in the Bahamas at the request of the US government. He may soon be extradited and face the biggest legal challenge of his life as a result of the numerous violations he committed at FTX and Alameda Research. He has a significant probability of going to jail, which might be beneficial for everyone in the cryptocurrency sector by delivering the message that we must all abide by the law and refrain from doing foolishly.

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest. This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

https://i.ibb.co/ZVDCt71/Fj6-Rj38ak-AEMwg-A-1.jpg

Topic: BTC Pumping After The Arrest of Sam (Read 328 times)