Steem Whale Manipulating the Poloniex Price? ( I can dig, I rode the wave with him, like the little fish that live on the bottom of whales.)
So the last two nights.. ( Midnight Pacific time) I witnessed somebody take the price of steem to 20K all the way down to 15K. He/She would put 30 btc walls, and just keep lowering and lowering, until the price of Steem feel like a rock. Then they would disappear, I'm assuming he/she then, bought up a bunch of Steem and sold it when the price rose in seconds back up to 18-20K. He/She did this about 3 times two nights ago and twice last night. At first I was pissed, but then, I decided to just latch on and watch the price drop, and when the buy wall was pulled for good, I bought up a ton of Steem, and Sold right below the wall he/she set again up at the 18-20K mark. Last night I was able to make a pretty penny by doing this twice, mimicking the whale.
But, how upsetting is it when you buy a big amount of a crypto, and then someone puts a 30btc wall up right below where you just bought. haha, it's the worst. So keep an eye out and be the barnacle that latches onto the bottom of the whales.
Do you believe the current Steem price, even the low one of last few days around 18ct is due to whales manipulating Steem prices for their own gain, or you think also some additional lesser temporary money is flowing into our home currency?
To some other post I wrote this comment; Do you somehow agree to my views, or you think otherwise?
I agree we are in interesting times with Steem as we speak. Last week it was pump and for some also dump time in crypto land, and also Steem benefited but lost on it again, however keeping a much higher net result (18ct instead of 6/7ct a week before). Question is: is it 1) pump/dump, 2) shift from BTC to other ALT-coins and/or 3) new FIAT flowing into crypto land? I think to believe the later 2.
Maybe because of EFT thing around Bitcoin, a wider audience of investors are now drawn to crypto land. Last Sunday in one of these Dutch TV investors programs, I saw some more or less traditional investors talking about crypto to be in, not directly in shares to the companies, or buying crypto as a currency, but through trackers. We are talking about investors who invest at the major stock exchanges; A good sign to me more money will be flowing into crypto currencies, from people with deep pockets. Even if it are trackers now, crypto getting attention from a wider audience of investors.
Awesome Reply, I think It's a little of both, to be honest. One thing I have noticed is there is a lot of chatter in the troll box, and even twitter about Steem recently, even right before the big surge happened last week. I believe it was way underpriced when it was sitting at 7-8K sats. The main cause could have been the Shift from BTC to other altcoins. It's opening the doors for a lot of new coins that have been overlooked and under valued. The price of Steem has been steadily rising and everytime I see it drop, it is from manipulation. Somebody dropping a huge amount of Steem on the market causing it to fall. Right now for the future of Steem and the price of it, I'm in the middle of what it could do.
Have the same experience with the trollbox, lot of Steem mentioning, especially when the short term trend is up, maybe just because of that 1 or 2 whales driving the price up. Last week it was epic, the push up to 30+ $ct, that will cause the short term traders to remember Steem and watch it some more, and also open to listen to what Steem actually brings to the table, namely a monetisation service rather than just a currency. I got only positive feedback, when I was chatting this in the trollbox.
Only time will tell what is going on right now, but for some reason I like to believe Steem values is entering bull mode; On the way up of course tips and dips, but in general the way up.