Silk Road forums
Discussion => Newbie discussion => Topic started by: UANDiR1 on April 11, 2013, 02:40 am
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Hello,
Today's decline in value for bitcoin (BTC) was caused by a very precise market play where a group of traders, suspected to be from Japan, caused a controlled decline from 266 to x<220 within a time frame that intentionally caused many FOREX-based trading algos to initiate selling, which resulted in further panic from retail BTC'ers (such as the majority of SilkRoaders), causing an even greater decline due to superficial fear, allowing those same Japanese traders from the beginning to re-initiate / add to their BTC positions at the extreme lows of today (today's low was 105).
That's how it works.
And for anyone who cares, I am very, very familiar with derivatives (futures and options) trading, in addition to FOREX trading.
Please +1 Karma me if you appreciate this information as helpful
Warmest Regards,
UANDiR1
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I CAN'T
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How were they able to do that when the majority of the major exchanges were frozen?!? I tried to buy when it was at about 125 but bitfloor was not even accessible at that moment. The people responsible for operating the exchanges would be the only ones that could do something like that...
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It so reminded me of penny stocks today. I wish I had a Level 2.