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RE: Curious what is causing Bitcoin to surge? I will tell you...
If it was anyone misinterpreting anything, it was bots...which people might forget, actually do read the news and tweets now days. Well...some of them do anyway. And no one talks about the crypto bots that regularly move massive amounts of money. Can't say it was likely a bad investment though. Perhaps a bit quick...and probably a very bad day for traders that had sales in too low.
That is true, they do scan headlines, but usually from places like Reuters or Bloomberg or some other major news outlet. Not crypto blogs...
Well...people putting way too much money behind a stupid bot that's following different sources in a dumb way is not new...but I do seriously doubt it. Of course, before a bot crashed the market based on a tweet that Obama was dead forever ago, I wouldn't have though that was possible. Well...I do think it was probably people putting way too much money into a stupid bot...but not one that reacted to a blog. It could have totally be a few dumb bots reacting to each other though.
Maybe by some sort of crazy, it was fully intentional though. Maybe someone was buying a ton because they knew it would be worth it, and didn't care much about if they bought it too high, because they're gonna be selling it way higher. Or they were manipulating the market.
Ding ding ding... that very last point is the one I think is most likely the most accurate one.
In my opinion, someone loaded up knowing where were on the charts, that if they pushed the market up a bit, the bots would run with it.
So they did just that...
Lambos for everyone!
These people must have a whole list of manipulation techniques...
You'd be surprised... or perhaps you wouldn't. :)