Notice how LTC USD price on BTCe is holding but yhe LTC/BTC is going up? As btc/usd is being tested. If you pay attention to the volume It becomes apparent
Sitarow - You seem to have some accurate understanding of how the market is currently operating. I think I'm slowly grasping what you are suggestions but still struggling a bit and want to see if I can confirm this theory. So the price of USD/BTC is pushed higher in value by using the sale of
BTC/CNY and USD When USD/BTC hits the sufficient peak the corresponding price of BTC/LTC is low, so the funds are transferred into this commodity, which in turn once again starts the rise of LTC to BTC and LTC/USD. Then this cycle continues? Basically washing ltc/usd gains in and out of btc/usd to continuously increase holdings by having the two commodities face off against one another. Is this a near accurate grasp? And you are suggesting that you can see
the patterns that start on the chinese exchanges and then finish on btce and so when btce and Bitfinex is at the highest,
The target set by those pumping take average 30mins to an hour one it is started. You can tell when the volume LTC sold for/BTC starts going up and LTC/BTC value goesb down because LTC/USD is artificially pushed down by those selling LTC/CNY on OKCoin and LTC/USD on BTC-e. After the pump and drop the cycle is already complete and or too late to try and join the game. Rinse repeat? Thanks for any insight you can help provide.
That is a fair assessment. However the problem is not LTC or BTC but the manipulators that have colluded to push on all fronts. I made money 1k on Saturday taking advantage of the arbitrage, however after the pumps many including claimed that the price would decline.
It was stalled when huobi went offline Yesturday.
The LTC/BTC trading on BTCe halted 30mins before the lunar coinbase timer stopped and then the target lows were dictated at the time to the $ on the troll box on btce.
So that has been my observation.
Edit: Don't try to move 10k LTC/BTC on BTCe without a bot.
Oh I forgot to add that on sunday 25th those who traded BTC for LTC the btc would be sold at market rate around $255 BTC/USD prior to the pump in order to keep the price low Or it would go up in value 0.01 far to fast for the other exchanges to manage.