/biz/ - Business & Finance

>>55611855
>But how does this relate to wash trading?

Wash trading is more for getting a pump & dump going. You know those failed attempts at a bull run you see every once in a while? That's wash trading. Every successful bull run? Triggered by wash trading.

Tether is for keeping the BTC price from crashing below a certain threshold, it all seems to be highly coordinated.

>Griffin suspects that a similar dynamic is operating today. He says that collusion to prop up Bitcoin would mean that a clique of buyers agrees to purchase together when the price nears a floor. Let’s say that trigger is $16,000, a figure Bitcoin almost always remained just above during its time of extreme stability. If Bitcoin experiences heavy sales threatening to drive its price below $16,000, in our example, the whale club enters en masse. “That $16,000, for example, could serve as a coordinating mechanism,” says Griffin. The manipulators could drive the price up to near $17,000, then sell part of their winnings in many small trades that don’t move the market. They could pocket big profits just letting the price bounce back and forth in the tunnel between $16,000 and $17,000

>Growing confidence that Bitcoin won’t breach $16,000 would encourage more speculators to join in the buying. Then the group can agree to set a new floor at $18,000. “In crypto, a group of manipulators can push Bitcoin to higher floors unless a big party moves against them,” says Griffin. But it’s much harder to short Bitcoin than to short stocks or bonds. We aren’t seeing evidence of another group moving to drive down the price, giving a stronger hand to any possible club of bulls. “Most of the players in the space have a strong incentive to maintain a price floor,” says Griffin

Muh price action