/biz/ - Business & Finance

Top post on reddit cryptocurrency sub is about bitfinex manipulating prices. It's been known for quite a while but it seems the masses are finding out now.

pic different post posted weeks ago saying same thing

>>8794523

https://mobile.twitter.com/BitmexRekt

>>8739040
This. For every unnatural pump there's an accompanying dump later on.

>>8710002
The end is to make money

Bitcoin price is manipulated to liquidate traders

I've been saying this for weeks, that all of the action is margin trading, and the only "whales" are the exchanges themselves, getting fat and happy off coins the retards here throw at them. It's fucking obvious, look at the fucking charts. That's why TA fags are so funny, they're trying to predict a rigged market, but they don't get that it's rigged, and that the people rigging it are doing it in patterns that can't be analyzed or predicted.
Why do you think they monitor the trollchat on Bitmex? They see everyone babbling about longing - hey guys, engineer a sideways movement for a while. Then pump or dump it, and the liquidation rolls in. Since they're in strange, far off exotic lands, away from pesky laws and regulations, they're free from prosecution or lawsuits.

But I don't expect the no-lambos and true believers here to understand or accept any of it, because they're entitled to wealth they didn't earn, right? They'll cling to the dream all the way to $1, still bleating sadly "12k any day now! 60K this time next year!"

Margin traders should read this.

>>8705391
Legit called this pump just before it happened. The playing field isn't level. Margin traders are being played.

>>8705004
I'm not trading. Just spectating. Crypto is bleeding out and there's money to be made from 'true believers' going long, but the playing field isn't level and people are pumping and dumping the low volume market to benefit from liquidizing margin traders.

We'll probably see a dump today equivalent to the size of the pump yesterday, but it's just as likely all the shorters will get barted once more before that happens.

Your thoughts and opinions?