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Never said it was evidence of anything shady, it just doesn’t feel right to me, it might feel super good and normal for you, that’s fine Is just that while NA
by firekvz 6y ago
Never said it was evidence of anything shady, it just doesn’t feel right to me, it might feel super good and normal for you, that’s fine
Is just that while NA markets sleeps you see some candle of +600 USD at plain 4am with a volume of barely 80 coins on most used exchanges, its clear orderbook spoofing so when everyone wakes up, it's happy about the price again
Also, I really wonder, how its such big news that MicroStrategy buys 150millions of bitcoin, cause it's a "big amount", yet, tether it's printing the same 150million 3 or 4 times per week, woah, is there so much money coming into bitcoin, people putting 600millions weekly specially into tether so they can buy bitcoin? who are those people, if MicroStrategy hits the news for 150m purchases, why aren't those buying 600m hitting the news?
My last comment about hands shaking it's because the uncertainty it gives me, I can trade everything, I have no problems with it, problems come when I am able to see by myself all that there’s wrong with those exchanges, yet, I'm still part of it and I acknowledge those problems and I am aware of the risks however there’s people making justifications over it.
- keymone 6y ago> its clear orderbook spoofing so when everyone wakes up, it's happy about the price again sorry, you have to provide a tad more solid evidence for claims like this. when sentiment changes, exactly 0 volume is required for that to reflect on the price. buyers/sellers at price X just go away and proceed trading at price Y. > tether it's printing the same 150million 3 or 4 times per week that's about $25-30 billion per year while entire tether's market cap after operating for 5 years is at $19 billion. obviously you're wrong and need to crunch the numbers some more.
- raziel2701 6y agoHe's right about tether printing those amounts in recent times. Tether started printing heavily after the March crash, particularly in August there's been a significant uptick that you can see here in the blue curve: https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- keymone 6y agoOk, so there’s correlation between tether market cap and cryptocurrencies market cap. But that’s expected. How do you demonstrate causality?