It's hacking the system. Whale used the thin orderbook to his advantage and was likely long on margin and profited from this. He also knew the many shorts work in his favour as they need to be closed. This was a very intelligent move today. My hat off to the btc-e whale. Great move.
Also changed the direction of the market
Topic: Manipulators trying to cause some cascade by pushing the price on BTC-e? (Read 858 times)
April 28, 2015, 12:30:05 AM
April 27, 2015, 05:10:54 PM
BTC-e exchange alone has low prices usually for a reason, yet alone price manipulation.
It usually occurs based on people with the ties of the exchange itself.
I remember reading article on coindesk 2 years back based on btc-e on how the russian exchange operated.
It usually occurs based on people with the ties of the exchange itself.
I remember reading article on coindesk 2 years back based on btc-e on how the russian exchange operated.
Yeah, well... Insider trading sounds like a very possible/likely explanation, could very well be people trying to get out at every cost, because they know that some sort of hammer is going to come down. What did the report you are hinting at exactly say?
April 27, 2015, 04:57:31 PM
BTC-e exchange alone has low prices usually for a reason, yet alone price manipulation.
It usually occurs based on people with the ties of the exchange itself.
I remember reading article on coindesk 2 years back based on btc-e on how the russian exchange operated.
It usually occurs based on people with the ties of the exchange itself.
I remember reading article on coindesk 2 years back based on btc-e on how the russian exchange operated.
April 27, 2015, 04:42:47 PM
So, it's happening I guess - sort of, at least. We're at 227.9 as of this writing on Bitfinex, that means we could be looking at the first bigger shorts being margin-called every minute. This could get green pretty quickly. It just hit 230, it's a festivus miracle!!!
April 27, 2015, 04:34:59 PM
That's possible, but it's giving free money to others as well. Many people profited from this volatility.
By the way, MT4 only shows ~235 as a high, while it was 257.5 in the web version.
I concur that no major short squezze happened as of yet.
By the way, MT4 only shows ~235 as a high, while it was 257.5 in the web version.
I concur that no major short squezze happened as of yet.
April 27, 2015, 04:14:58 PM
I've got a new hypothesis: People are trying to cause some sort of short-squeeze cascade, by manipulating the price on BTC-e. For whatever reasons they might have figured out BTC-e to be the 'right' exchange to use for this. Any thoughts on this?
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