In my opinion, that's pure manipulation.
Some guys with deep BTC pocckets at BTC-e decided to buy low at 0.0005 and pumped the price to 0.00115, that is about 230% profit.
Compare that to the hypothetical case: If LTC went from U$D 2 to U$D 3, that would only be an 150% profit.
More traders at Wall street are coming to trade in the cryptocurrencies markets. They have the knowledge/experience of trading and right now, they have little competition here (mostly miners with lesser trading skill/experience). It's like heaven from them, they could pull all sort of tricks that they wouldn't do in Wall street because Wall street is regulated and could face Jail.
That's just my opinion. What do you think?
Some guys with deep BTC pocckets at BTC-e decided to buy low at 0.0005 and pumped the price to 0.00115, that is about 230% profit.
Compare that to the hypothetical case: If LTC went from U$D 2 to U$D 3, that would only be an 150% profit.
More traders at Wall street are coming to trade in the cryptocurrencies markets. They have the knowledge/experience of trading and right now, they have little competition here (mostly miners with lesser trading skill/experience). It's like heaven from them, they could pull all sort of tricks that they wouldn't do in Wall street because Wall street is regulated and could face Jail.
That's just my opinion. What do you think?
That's what I think too, pure manipulation. It seems like a clever pumping scheme with the news articles praising feathercoin like it's the best alt-coin out there and the price rise that happened around the same time.
