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Topic: Could this pump be attributed to Justin Sun or Binance? - page 2. (Read 301 times)

member
Activity: 224
Merit: 62


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.

It is because people are realizing fiat is a joke? They are giving away something Limited(work/time/bitcoin) for nothing.
Did you know water retains memory? Take a positive shower and spread the ripples to the ends of the planet, let your tears and sweat enter the water and evaporate then rain all over the earth, Nature will absorb it.

Also there is a great channel/conference that ended called "understanding bitcoin" they showed off some really cool new tech, it could be amping investors up.

How can a exchange getting hacked because you don`t even have basic command line to stop spam withdraws make the price go up? people would just lose more faith in btc.
legendary
Activity: 2646
Merit: 1106
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
If this was attributed to Justin Sun or Binance Now we could have experienced a downfall with the market. The present market is in the uptrend and it is in the urge to reach $7500 soon. Though Binance and Justin have come up with different plans to back track the stolen funds they're quite strong in funding the market to keep the BNB market stable and keep growing after the sudden crash by the time of hack.
full member
Activity: 924
Merit: 148
Well, that seems like they are possibly buying BTC with some small parts. And then they wait unil people that expect correction would place their sell orders in order to save their profit. And then they would keep buying coins until they get those $40 mln.
But on the other side Binance should probably have such money somewhere in their stash. Just try to calculate their daily profit: take their trading fee % out of their daily volume (ofc if it is not faked).
legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
The $40 000 000 will not make such a big difference in the price, I think there are something "bigger" behind this whole push.  Huh  Justin's generosity is pocket money for him and I think it has something to do with his BitTorrent token that he launched on the Binance exchange.  Roll Eyes

In any way, whatever his reasons are, it sparked some new interest in Bitcoin and it helped to raise some confidence after the hack occurred. Binance also announced that they are willing to cover the losses, so it's not a big deal.  Wink
sr. member
Activity: 854
Merit: 281
Why would Justin Sun or Binance drive up the price of BTC? That makes no sense. What the hack did was to temporarily take the wind out of Binance's sails and perhaps reinforce the immutability of bitcoin - that there will never be a rollback to undo a hack. The hack simply served as a reminder for people to keep their funds out of exchanges as much as possible.
hero member
Activity: 3178
Merit: 977
www.Crypto.Games: Multiple coins, multiple games
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.
full member
Activity: 302
Merit: 100


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.
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