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/biz/ - Business & Finance

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5586751 No.5586751 [Reply] [Original]

What is causing the market to pump collectively like it is now? I’ve been watching the market dip all week, now this pump. Do humans really sit down in front of their computers and collectively buy crypto all on the same day? Humor me /biz

>> No.5586774

>>5586751
Some of it is that, yes, but a lot of it is big players dollar cost averaging around the same time.

>> No.5586800

>>5586751
also people selling their alts for BTC will pump it too

>> No.5586812

>>5586751
This is what we here on /biz/ do.

>> No.5586868
File: 112 KB, 435x468, 1507457169050.png [View same] [iqdb] [saucenao] [google]
5586868

>>5586751
everyone was pumping BNTY last couple days straight - they just dumped, and all other altcoins starting to rise. btny was only altcoin i was tracking that was constantly rising while all others were down, now its the opposite.

just a factor i suppose.

>> No.5586884

bots

>> No.5586886

But why today? Payday Friday, perhaps. That makes sense even internationally.

Just trying to make sense of this Wild West financial revolution we find ourselves in. There’s a lot to take in, it’s overwhelming!

>> No.5586887

>>5586751

Wow its almost like people are buying at a strong support level for btc.

>> No.5586895

So you're telling me the market went down over a weekend and a major holiday?

Tell me more

>> No.5586949

>>5586895
Is my new fag showing? Lulz

>> No.5586997

There is a cascade effect, both for fast rise and fast fall. A few people happen to place large orders around the same time, momentum traders hop on because that's their cue to get in, more people fomo in and so on. For drops it's a similar deal, few big profit taking orders, traders see and dump their holdings as well so their don't have to bag hold the dip, this is often enough to trip a bunch of stop loss orders which then leads to panic sell offs.

>> No.5587047

I see cryptocurrency as a way for the people to govern themselves. It’s the most pure form of free market there is. Without the oppression of a centralized monetary policy the free market will decide who survives. Hence the financial revolution. The next few years will be interesting to say the least.

>> No.5587076

>>5586997
Both of these happen naturally in open market. Artificial pump/dump done intentionally is a different kind of thing, although that can start the cascade as well.

>> No.5587287

>>5586997
Market manipulation is a part of the free market. But does that call for regulation? If we let the free market run amok, won’t we just end up with Oligarchies as we do now?

>> No.5587311

I honestly think a lot of it has to do with KuCoin.
...aaaaand my referral link is 1du7Q if anyone wants to use it
I'm not a shill! I actually believe in KuCoin, esp. KCS.

I also think that people are becoming more interested in altcoins as Bitcoin wavers.

>> No.5587333

It's tether printing another 50 million virtual USDT out of thin air and putting it towards BTC that has the market hyped again. BTC gonna pump again using that tether soon enough. If you wanna do yourself a favour, don't buy any USDT. It's a pretty massive scam DESU.

>> No.5587399

>>5587287
Maybe the people who call themselves ‘whales’ are actually just slightly larger guppies. The real whales own 50% of the worlds wealth and are a handful of men.

>> No.5587449 [DELETED] 

>>5586751
its an artificial pump to bait bots into buying, happened from 13k to 14k to 15k to16k then they sold at 15-16k when there wasnt any buy pressure

get out now theres literally no news rumor or anything that can be said as good news rather than the world bank saying all cryptos are backed by governments

>> No.5587510

>>5587333
That was suspect. Literally crypto quantitative easing. Which is why I asked who the fuck is pumping this market on a fine Thursday night/Friday morning?

>> No.5587664

>>5586751
market is a living being it does it's own thing

>> No.5588208

>>5586751
Pay day.

>> No.5588246

>>5586751

Mix of whales manipulating the market to produce positive emotions for the rest of idiots in the market

Then they dump on their bitch asses and reset

>> No.5588259
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5588259

pic related.

>> No.5588667

>>5588259
>>5588246
LOL interesting takes. I'm gonna have to say that is the beauty of the free market. The lack of regulation allows Darwinism to take effect, and in the end benefits the human race as a whole.there will be no bail outs in crypto.