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Discussion Starter · #1 ·
Hey guys, so I just notice an odd occurrence and wanted to know if anyone knew what caused it. I noticed at exactly 8:45 to 9pm EST every single cryptocurrency I clicked on had an almost identical and noticeable steep drop. Now it wasn't market shaking, but it had an effect and I found is really weird that every single coin would act like that in unison in the same way. Can someone explain why this happened?
 

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volitile, and lots of programatic activity.
I was actually thinking of coding a trading bot, it's an interesting challenge, and no regulators to deal with yet.
 

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Price manipulation.

The whales decided to sell a large volume of their crypto stashes which dropped the price. I have read of a private forum "by invite only" to coordinate efforts.

They will re-enter the market by purchasing tiny fractions of crypto, leapfrogging over each other to drive the price back up.

Rinse and repeat in classic market manipulation fashion. This is what happens when there is a lack of market regulatory oversight.

If the whales put all their crypto on the market at one time (they hold most of the available crypto), the prices would plunge to zero.

By doing it this way, they sell a little at a time at manipulated high prices. It is in their self interest to keep the game going until it collapses.
 

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Discussion Starter · #5 ·
Ok, I figured they would do this in a more intelligent fashion with trade bots that would calculate the appropriate times to sell and what not or at least pay someone to do it. This seems grossly unoptimized to pick specific time slots to do it at.
 

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As soon as one whale starts to sell a large amount the price will start to drop......leaving the other whales unable to sell for the same price.

They know that few people buy whole bitcoins at $56,000 each. Watch the live market and observe how few whole bitcoins are actually sold.

The large purchases reported in the media are through private transactions at an undisclosed prices.

Most people buy tiny fractions of a bitcoin so a "wall" of bitcoins for sale ensures the price will drop.

They have been doing this for awhile and know what they are doing.
 

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Discussion Starter · #7 ·
So basically it's not to sell for profit but a mass sale to manipulate the market into lower prices and then buy it all back after. This unregulated space must be so good for these guys lol
 

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Not a surprise. The crypto currencies likely have large holdings by (leveraged) hedge funds, so when it's time to liquidate, they sell all of them at once.
 

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Yea because the stock never falls or rises at the same time

The crypto market is correlated just like any other market
 

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Yea because the stock never falls or rises at the same time

The crypto market is correlated just like any other market
Yeah I think it's the same effect as with stocks.

Someone holds a portfolio of a bunch of stuff (e.g. variety of stocks) or in this case, a variety of cryptocurrencies.

When they start selling, they sell all of them at once.
 
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