free web page hit counter
The crypto market is so manipulated it's astonishing. We need adoption, adoption, adoption TODAY.

The crypto market is so manipulated it's astonishing. We need adoption, adoption, adoption TODAY.

Bitcoin Reddit

Reddit / Bitcoin Reddit 14 Views

Nothing new, we've been saying it for ages, but since I started learning trading a few months ago, spotting it is much easier.

For example, take this recent price move:

Alts had been rising for the last day or so, with some like BCH rising up to ~11% versus BTC (BCHBTC +11%) - many others likewise.

Now, if you have a coin worth, let's say, 0.007 BTC and 70$ in terms of USD, if BTC, being the main trading pair of the market, loses 30% of its USD value and goes from $10000 to $7000, your coin worth 0.007 BTC would lose 30% USD value too, in our example going from $70 to $49.

What we just witnessed was pure manipulation. BTC dropped from ~$10600 to ~$10000 losing 6% USD value in an hour, while ALL alts lost 10-15% USD value, something totally illogical:

ALL alts just lost 4-5% of their ALTBTC pair value at the same time. The logical thing to happen if every alt is being sold for BTC would be for BTCUSD to rise, since all alts (each with its USD price) being exchanged into BTC pumps BTC price and bitcoin dominance %.

What just happened was EVERY ALT/BTC pair was ~4% sold simultaneously into BTC AND BTCUSD price not rising but tanking 6%, a clear sign of an orchestrated cryptomarket dump with market cap losing billions (into a “stablecoin” most likely). Clearly, there is some algorithm controlling the whole crypto market with endless funds (coins) dictating what the market does, selling everything at the same time and so on. This is no group of individual trader whales, this is some huge power bigger than CME or a country, and most likely the one controlling Tether.

Tether was engineered and created as a tool to suppress the growth of cryptocurrencies. It’s not even hidden; its very name is telling you it is the tool used to tether crypto to fiat (air). It works the following way:

  • Tether facilitates the pump of your coin of preference by allowing you to buy it with thin air, much like the same way a “receive 1000000 currency” cheat works in a video game. This was done to BTC after successfully taking over it [Blockstream successful social attack & takeover of Bitcoin, then derail the project so it no longer is a decentralized P2P currency for mankind]). By buying bags and bags of a coin with thin air, you get to dictate "what the market has decided", you control the main crypto trading pair and you get to dump the market later to suppress price growth of other coins (you dump BTCUSD 5% and you suppress any ALTUSD price around 5%).

  • Tether facilitates the dump of any coin of your choice by having allowed you to accumulate huge amounts of it. By being able to dictate the dynamics of the market and pump a coin's price by buying it with air or BTC bought with air, you drive FOMO investors to it, which increases its price and allows you to later market sell some of your bags into them at higher prices in order to accumulate more BTC and create a panic sell-off (this is done to ALL alts in cycles - check historic bitcoin dominance % and see the cycles). Likewise, you get to buy massive amounts of every coin at bottom levels with limit orders, avoiding pumping their price as much as possible), which later allows you to unload huge amounts of said coin at key moments if it is rising and you don’t want that to happen. Compare the BTCUSD daily chart to the BCHBTC one, compare the amount of wicks to the upside and think about if the BCH one seems organic to you.

This is done to each and every alt as necessary in order for your controlled coin to retain the #1 spot. ETH, BCH, whatever might challenge BTC. Tether is not something ran by some group of malicious individuals that have set up an offshore company to make a few hundreds of millions with a stablecoin fraud. This is an operation on a global scale that utilizes corrupt humans running companies (Bitfinex, nChain, etc.) as tools to suppress cryptocurrencies and to prevent the mass adoption of a decentralized, peer to peer currency from overthrowing fiat.

The next logical question is what we do, and the answer is adoption. If you build a closed-loop economy with a coin and start pricing stuff in itself and not in fiat, you become immune to their fiat-value shenanigans. I'm talking about buying food, paying your rent, selling your labour and living exclusively off of a decentralized cryptocurrency. Obviously, at this point they would attempt other things, like a 51% attack with the hashrate they would have purchased with their monopoly money. This is something BCH is vulnerable to, but this beyond the scope of this already long enough post :)

submitted by /u/doramas89
[link] [comments]

Comments