Or what was maliciously dumped was leveraged longs that were opened long before (and still in the green), along with borrowed BTC they used to short. This way they maximize profit. The OTHER longs that were forced closed were only 650btc.
And at what point might a leveraged long trader have got in before $450-$500 and have their position still 'in the green', especially with compound interest to be paid on the position?
As usual, someone from Bitfinex opens their mouth and nothing but utter shite spews out. At least they are consistent/reliable/predictable.
I still have longs opened from $380 with calls at $220. I won't close them out until the bubble pops. It's worth it to me because I don't pay interest until the long is closed, you just borrow more to cover the interest. My mining gear alone covers the newly borrowed interest, so my accounts will not go under due to borrowing more. When we break 720ish I will double up those longs, and again above the next resistance, and again, and again. So if I'm doing it you can damn well bet manipulators are doing it, and have longs opened from the bottom they set back at 340. You can see on BFXdata a ton of shorts were used to reach that bottom, and from there the longs started rising.
). but it does look like the selloff coins were held on margin. clearly much of the coins sold were leveraged long. my guess is the distribution in base cost is weighted to the upside....