The BTC market is tiny compared to most other markets, if someone have put in $50.000 into the market, the would have had 1000 BTC if they bought at $50. They can then put out a sale offer that is slightly above the going rate with one account, and then buy that from the another account. This will make it seem like the market goes up.
This might be done in several steps over a small timeframe. At the same time a high buy offer is put in to illustrate that there is a lot of demand. When enough people have put in orders to buy around the new price, the high buy offer is retracted, and are replaced with a large sell order.
They make a few % surplus every time, and since the input is high, it quickly adds up.
This might be done in several steps over a small timeframe. At the same time a high buy offer is put in to illustrate that there is a lot of demand. When enough people have put in orders to buy around the new price, the high buy offer is retracted, and are replaced with a large sell order.
They make a few % surplus every time, and since the input is high, it quickly adds up.
Wait, if I'm reading that right, this is pretty much what I was doing (sans multiple accounts) to profit from back and forth swings. You're calling that manipulation?? Welcome to the free market!
Watch the order book, any time an order above ~170 appears on the buy side or ~300 on the sell side, it will shortly vanish. They're only there to get speculators moving their bids/asks in front, to push the market up/down.
