Topic: Could this pump be attributed to Justin Sun or Binance? (Read 278 times)
I think BTC price started going up the day President Trump removed all exceptions to the ban on Iranian oil sale
After all he did say he wanted to buy the 7,000 btc with 40 million tether. Coincidentally it appears that most of this btc is being bought with tether indeed. Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper. Binance is also under time pressure to restore withdrawals so the price actions makes sense to me.
I don't think, if Justin or Binance wants a pump, why should it happen when there is a security breach on the Binance system?
actually other factors have begun to emerge which influence this in addition to the words of some great people
I thought same too. It was just too coincidental.. I think more of this type of news should happen to the crypto community..
A small percentage of this pump could be attributed to him but a person or company can surely not do this alone. We are talking about billions of dollars being added to the market every day while those 40 million tether you are talking about is worth only $40 millions and that surely wouldn't be enough to cause such a big pump like we've seen in the last couple of days. So in conclusion they might have affected the market a little but nothing substantial to give them credit for.
I don't even think justin sun is that relevant to btc or anything outside tron and bittorrent. People don't care about him and definitely what he says can't initiate both pumps or dumps. Now binance is bit more considerable but if anything of late can be attributed to them, it's them being hacked and yet bitcoin still is making a run. This current run can be pointed out simply to bitcoin moving out of the negative market that started last year.
Coincidentally it appears that most of this btc is being bought with tether indeed.
do you have any proof for this guess of yours? because all the data we have is the trading volume of Tether and there has not been any irregular change in that. we have an increased volume which is normal in times of a price rise which you can verify by looking at the charts!
then comparing that volume with USD and other fiat volumes you can clearly see that the Tether volume is very small in comparison.
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Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper.
again, take a look at charts sometime. that is how price rises after breaking out. it is not "waiting" it is the day traders cashing out because of their panic and the trend that they have been used to. in other words for months they bought bitcoin at a certain price and sold after X% profit. now price is rising more than X% but they still panic and sell at X% or a small amount above it and that causes small corrections and slowness in the overall rise.
I don't think it's related to Justin Sun, but we never know, but if it's true, then it will bring a good moment for bitcoin price to get increase higher than before.
After a few times bitcoin price get pumps to the highest price, it will down for now and still waiting for the next good moment to increase back.
I am sure that many people will wait for that time because some of them buy bitcoin at the highest price before.
So let's get prepare for the next pump of bitcoin price.
After a few times bitcoin price get pumps to the highest price, it will down for now and still waiting for the next good moment to increase back.
I am sure that many people will wait for that time because some of them buy bitcoin at the highest price before.
So let's get prepare for the next pump of bitcoin price.
Lol. I don't think so. Binance lost 40 million dollars while billions are being added with each passing day and the primary reasons behind these surges are Fidelity allowing institutional investors to trade crypto and the upcoming halving event in 2020.
Everything does not revolve around Binance people.
Well, it's not like everything revolves around Fidelity as well. I think we are past the time when one key event could be a cause of price changes. Nowadays there are various factors contribute to that. A lot of stuff is happening simultaneously. Binance solving the issue professionally, Fidelity thing, generally more matured investors, long period of bear market. All of them matter. Everything does not revolve around Binance people.
I think the bump doesn't have anything to do with the two. No one knows for sure what is the reason behind this pumps. I think it is just a coincident that after what happened to binance, prices went up like this. I really don't have any speculation about the reason behind these pumps though.
Dont think so, with the trade volumes from the last past days the 7k coins are peanuts. It could had be a reason in the past but certainly not these days.
I don't think this theory is really applicable during this kind of situation. It's just that bitcoin still got into a good value despite the binance controversy.
It doesn't affect cryptocurrency that much though it still has an impact. I believe that no matter what the controversies are, the market would still be into a better situation.
It doesn't affect cryptocurrency that much though it still has an impact. I believe that no matter what the controversies are, the market would still be into a better situation.
Lol. I don't think so. Binance lost 40 million dollars while billions are being added with each passing day and the primary reasons behind these surges are Fidelity allowing institutional investors to trade crypto and the upcoming halving event in 2020.
Everything does not revolve around Binance people.
Everything does not revolve around Binance people.
Even though I don't think that everything doesn't revolve around Binance, but I don't think it has anything to do with the Fidelity offering either! I have checked their website and didn't see anything related to crypto yet. They have not yet started their offering of crypto products and it will go live within next few weeks. So the impact of institutional investors will be seen more prominently once they will go live. For now, only sensible reason seems to me, is the upcoming halving!
After all he did say he wanted to buy the 7,000 btc with 40 million tether. Coincidentally it appears that most of this btc is being bought with tether indeed. Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper. Binance is also under time pressure to restore withdrawals so the price actions makes sense to me.
This is just an absurd theory, you think that the market went up just because he is planning to purchase 7000BTC or already in the process of purchasing, you are really underestimating the market here, those tiny amount will not push the market higher and that quote i am telling from the words of Changpeng Zhao, if you know that the known market volume of bitcoin per day is 4,131,161BTC which means the coins being traded in exchanges, you will not come to this conclusion.In short the huge binance hack could have dented the market, instead the market is ignoring the stupid ideas of CZ and his inability to have enough security measures and pushing forward.
Well it may or may not be possible but I don't think it would have happened because the Binance hack occured on May 7.
As of May 7 the price of bitcoin was around $5800 which is almost double the price of the ATL of this year.
We could say that the price started pumping way back than the binance hack occured.
As of May 7 the price of bitcoin was around $5800 which is almost double the price of the ATL of this year.
We could say that the price started pumping way back than the binance hack occured.
It could be something else. Maybe those who have tether has sold everything, shift to bitcoin or because someone has put a lot of money again, similar to what we have witnessed in April 2. There's a lot of contributory factors but I don't consider to Justin Sun offering to help Binance with the hack bitcoin.
Let's wait early next week though, Binance said that they will allow deposits/withdrawals, so it will have a significant effect.
Let's wait early next week though, Binance said that they will allow deposits/withdrawals, so it will have a significant effect.
nobody in the complete market understands what exactly triggered this pump but it was surely not intentional. as we know binance exchange got hacked but those coins are just moved from one address to another and are not withdrawn yet so it didn't crash the market but looks like bitcoin is heading towards 10000$ price scale.
Is interesting that the pump happen after Binance hack, really i didn't expected but this is it and maybe will grow more and even if will drop i think will not drop to much.
BTC is king - adoption is here - halving will be soon
You could say that, but if that is indeed the truth this price rise is somewhat precarious in nature and someone made a lot of profit by using the long questioned Tether tokens. Personally I think Justin's move made a domino effecy, and if that $40M buy is true, most traders used it as a signal for themselves and collect profits as they please, too. Right now the reason for the rise is somewhat vague, though I don't think it's just Justin and Tether that is at play here.
Well, after the lawyer from New York stated that the tether is a kind of manipulation and I guess Tether actually won against the allegation we have to expect that the Bitcoin's price will keep on going high. I am getting excited about what will happen next. The year 2020 is I guess the time where the market will soar and the bull runs starts in that year. It may sound like a cliche but its the reality. I don't really the thing that Binance is the reason why the market is starting to rise again. We will definitely see and know the reason it is rising.
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