Topic: Why would someone use an exchange to shift $1.2 Billion worth of bitcoins? - page 2. (Read 256 times)
September 26, 2019, 08:25:37 AM
In my simple thought someone is behind this price drop and one of their strategy was to deposit a huge amount of bitcoin into an exchange. Possibly the purpose is that they want the market to go down so that they can buy more bitcoins at their disposal. Or possibly you are right that it is a strategy to discourage people to buy bitcoin futurescontract on bakkt. But let us hope that bitcoin will recover its value very soon and people will start to appreciate bitcoin futures contracts.
September 26, 2019, 08:20:11 AM
Do you think it is a coincidence that someone would transfer $1.2 Billion worth of bitcoin on a exchange for everyone to see?
Source? Txs?
Other than a Reddit post with a screenshot!
I don't see a spike in average transaction value:
https://bitinfocharts.com/comparison/transactionvalue-btc.html#3m
No spike in total volume:
https://bitinfocharts.com/comparison/sentbyaddress-btc.html#3m
There was nothing even from whale-alert...
September 26, 2019, 07:58:35 AM
Do you think it is a coincidence that someone would transfer $1.2 Billion worth of bitcoin on a exchange for everyone to see? Normally such large transactions are done on OTC platforms, because people know what these kinds of dumps are doing to the price. 
The end result was a total of $5.3 Billion transacted in 24 hours
Source : https://www.reddit.com/r/Bitcoin/comments/d8znbv/12_billion_transferred_at_3pm_bst_yesterday/
My observation was that this was done on purpose to trigger a drop in the price and it was done to discourage traders on Bakkt to buy Bitcoin futures contracts on the much publicized Bakkt platform. Whoever did this, knew exactly how institutional traders would react and they timed it perfectly with the launch of this platform.
Are we seeing yet another attack from the Fiat masters to extinguish the Bitcoin wildfire
The end result was a total of $5.3 Billion transacted in 24 hours
Source : https://www.reddit.com/r/Bitcoin/comments/d8znbv/12_billion_transferred_at_3pm_bst_yesterday/
My observation was that this was done on purpose to trigger a drop in the price and it was done to discourage traders on Bakkt to buy Bitcoin futures contracts on the much publicized Bakkt platform. Whoever did this, knew exactly how institutional traders would react and they timed it perfectly with the launch of this platform.
Are we seeing yet another attack from the Fiat masters to extinguish the Bitcoin wildfire
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