russian bitcoin ban hammer getting closer.
just look how fast profits are leaving btc-e.
soon™.
just look how fast profits are leaving btc-e.
soon™.
They are desperate to get out, must have some inside knowledge.
The withdrawn coins will probably be distributed and slightly increase asks / seller pressure on other exchanges.
As dangerous as this may sound - another exchange possibly going down - this still sounds like one of the more reasonable explanations, actually. Crazy price action was also one of Gox's symptoms before closing for good. Hell, even back in October/November 2013 the price on Gox was almost $100 higher than on Stamp, et al.
Any info on BTC-e solvency?
Nah, I don't know... They've always remained very reclusive about basically everything. People don't even seem to know what country they're located in, apparently. I guess we know nothing for sure about them. They were always supposed to be the go-to exchange for illicit activities and liquidating illegally obtained coins - if that's true though... no one knows, either!
Never considered the illicit activity angle but if someone need a few million dollars in BTC for such an activity. BTC-E seems like the only option and it certainly would produce the crazy charts we are seeing today.
Or the exchange is dying.
With 'illicit activities' I was merely considering the possibility that someone could be pulling an inside job at BTC-e or someone hacked the exchange or some accounts in one way or another. Buying coins in order to buy something illegal... Don't know... slow accumulation would make more sense, I guess.
