/biz/ - Business & Finance

>>53471584
>"ftx crash"
>still thinking BTC dumped because of FTX
>>>/reddit/

>>53383936
>FTX dump
No such thing. The dump which occurred around that time had already begun before the "FTX" news. The chart at the time looked bearish as hell, the Stoch RSI was very high and a multitude of other indicators were bearish at the time, so buyers were lacking, hence it was obvious that a dump was coming.

Events like the FTX shit function as a sieve which filters out the high IQ anons from the low IQ anons. Low IQers always latch on to the event/news and always think dumps happen due to that, and never look at the charts.

Happenings/events/news is almost always either a coincidence or - more often - a smokescreen set up for planned "manipulation" trading. Like for example lets say some whales want to dump the price and they KNOW some negative event is coming thanks to having insider knowledge, and so they're waiting for that happening and when it happens then they do the dump. Then normalfags just think the dump occurred due to the happening/news. Very cringe, but many such cases.

Sometimes the players involved in the dump, or pump, even cause "the happening" themselves. The same is done with pumps too of course, for example when BTC pumped after Elon Musk put "Bitcoin" in his twitter profile description text, the price most probably didn't pump only due to that. Sure, Elon doing that contributed a little bit to the price going up but most likely some whales (maybe Elon himself or some of his buddies, maybe Saylor) had planned to do a big pump to prevent the price from organically falling further due to too many sellers (in that specific moment it was actually very close to going under a critical support level), and so to cover up what would've looked like very obvious manipulation he put Bitcoin on his twitter so everyone would think that's why it pumped.