Mt Gox and Mr Kobayashi selling : Dump & Pump scheme here ...

in #crypto4 years ago

Here a link to a detailed article about Mt Gox bankruptcy and selling of BTC / BCH : https://cointelegraph.com/news/effects-of-mt-gox-trustees-400-mln-sale-on-bitcoin-market

They say there is no correlation between a drop in BTC price and the selling, and that's true, but we have a dump & pump scheme here.

Hypothetic explanation : Mr Kobayashi want to sell huge amount of BTC, he advises some 'friends' he will do so, he sell and they short, then, when price has dropped (because market is bearish and the dump worked), they long, what makes BTC price go up for the day. The day after they repeat. Note the 8 february they did'nt or some buyers were'nt ther, but were back the 9. If they were smart they maybe wanted to hide (sic...) one of the pumps ...

If you make the math and calculate the correlation coefficient for a d&p situation you should obtain the INVERSE of a dump situation, just because a dump & pump make price go up instead of going down, especially if they are some d&p planned for the following days and/or if the d&p take the market in an oversold state that will induce a lot of buys.

Just be aware of how some people can make numbers lie, all they say here is that the selling of Mr Kobayashi did'nt drop the price FOR THE DAY, but intraday the dip was there and it implies an huge intraday rally has occured. What make sense is a dump & pump, even if the naive could conclude that the selling only induced the traders to buy, I think the movement was too fast to not be backed by some pumping group.

Have a great day and think by yourself 😉😉😉

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Thank you for sharing. I feel angry about them though