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Perhaps there is some truth to the dark rumor that this is price manipulation, but not by the mega-whales as in previous sell-offs, but by the institutionals, t

Perhaps there is some truth to the dark rumor that this is price manipulation, but not by the mega-whales as in previous sell-offs, but by the institutionals, the Citadels, the Blackrocks of the Earth, that are now backing up with dumptracks for their clients pensions funds 1% crypto exposure?

MrMan 4y ago
are you joking
chollida1 4y ago
Not even /r/superstonk believes those ridiculous Citadel and blackrock rumours;) Let's not spread FUD without a shred of evidence. Do Blackrock and Citadel even have crypto trading arms to their corps? Common sense dictates that alot of people said they'd reload when it got to $30,000 and after it breached that mark people started buying. Also remember that UST sold alot of BTC recently to try and hold its UST peg, which just meant BTC on sale for the rest of us. I guess one good thing form this is that Tether held its peg for the most part, which should help things find a floor in a gentle manner:)
- deleted 4y ago
  [deleted]
- kurthr 4y ago
  I just don't see how this is common sense. If lots of people actually reloaded below $30k you'ld see buying a day before at $28k and it never would have hit $26k to wander around below $29k all day (it hasn't hit 30 since it hit 26). Replacing FUD with FOMO isn't better. Also, a stablecoin peg that "only" loses 5% in a day is awful. That's 1,800% inflation annualized! Or more realistically look at the scandal and lawsuits when moneymarket funds that paid interest lost 0.5-1% intraday during the 2008 financial crisis.
  - chollida1 4y ago
    or people are human and it takes a day to follow through. We're not all robots that watch for the minute it hits a number:) > Also, a stablecoin peg that "only" loses 5% in a day is awful. That's 1,800% inflation annualized! Or more realistically look at the scandal and lawsuits when moneymarket funds that paid interest lost 0.5-1% intraday during the 2008 financial crisis. Fully agree with the first part, the second part is jsut silly as we aren't talking about this happening day over day as the peg was restored with in hours, so that hyperbole really weakened your argument:(
- sva_ 4y ago
  Gemini also debunked it. So there is evidence to the contrary. https://nitter.net/Gemini/status/1524428615844339718#m https://nitter.net/Gemini/status/1524428615844339718#m
babyshake 4y ago
Or crypto just behaves like leveraged QQQ. NDQ is down 25%.
wollsmoth 4y ago
From what I hear, a lot of pensions, institutions and major banks are already invested in btc. I think it's possible that it helped sustain the elevated prices over the past year. The problem, I think, is that once demand slows the price starts to dive. How long will these professional investors wait around for a return while prices approach half what they paid?
paxys 4y ago
Everyone is manipulating the market by buying and selling.

MrMan 4y ago

are you joking

chollida1 4y ago

Not even /r/superstonk believes those ridiculous Citadel and blackrock rumours;) Let's not spread FUD without a shred of evidence. Do Blackrock and Citadel even have crypto trading arms to their corps? Common sense dictates that alot of people said they'd reload when it got to $30,000 and after it breached that mark people started buying. Also remember that UST sold alot of BTC recently to try and hold its UST peg, which just meant BTC on sale for the rest of us. I guess one good thing form this is that Tether held its peg for the most part, which should help things find a floor in a gentle manner:)

deleted 4y ago
[deleted]
kurthr 4y ago
I just don't see how this is common sense. If lots of people actually reloaded below $30k you'ld see buying a day before at $28k and it never would have hit $26k to wander around below $29k all day (it hasn't hit 30 since it hit 26). Replacing FUD with FOMO isn't better. Also, a stablecoin peg that "only" loses 5% in a day is awful. That's 1,800% inflation annualized! Or more realistically look at the scandal and lawsuits when moneymarket funds that paid interest lost 0.5-1% intraday during the 2008 financial crisis.
- chollida1 4y ago
  or people are human and it takes a day to follow through. We're not all robots that watch for the minute it hits a number:) > Also, a stablecoin peg that "only" loses 5% in a day is awful. That's 1,800% inflation annualized! Or more realistically look at the scandal and lawsuits when moneymarket funds that paid interest lost 0.5-1% intraday during the 2008 financial crisis. Fully agree with the first part, the second part is jsut silly as we aren't talking about this happening day over day as the peg was restored with in hours, so that hyperbole really weakened your argument:(
sva_ 4y ago
Gemini also debunked it. So there is evidence to the contrary. https://nitter.net/Gemini/status/1524428615844339718#m https://nitter.net/Gemini/status/1524428615844339718#m

babyshake 4y ago

Or crypto just behaves like leveraged QQQ. NDQ is down 25%.

wollsmoth 4y ago

From what I hear, a lot of pensions, institutions and major banks are already invested in btc. I think it's possible that it helped sustain the elevated prices over the past year. The problem, I think, is that once demand slows the price starts to dive. How long will these professional investors wait around for a return while prices approach half what they paid?

paxys 4y ago

Everyone is manipulating the market by buying and selling.