 | In truth, there shouldn't be any surprise seeing the market activity in crypto. Speculators are abound and on to of that there's retail who simply follows the smart money and insiders and play their role as useful exit liquidity. There's a chart of FTT across the breath of the SBF trial. It does look like a wild graph but it's so wild that the wildest swings of the chart underplay other comparatively less wild swings, which were still big price movements in their own right. Leading up the the trial, the chart of FTT moved like this., which represented a pump of 11%. Then halfway through the trial FTT dumped around 20%. After this, the price pumped 32%. Then the price dumped 10% to the second-to-last day of the trial. On the final day it pumped 7%. And when SBF was convicted on all counts FTT took a hard crash. FTT fell about 9% in the hours after SBF was found guilty. I would say that is shocking considering that we all knew he was guilty. But there seemed to have been some people speculating and holding out hope that the (former) rich would find a way to beat the system like they almost always do. On top of that, FTT fell to a low of 12% below the pre-guilty verdict before rebounding and recovering from much of its losses to today. Speculation abound. [link] [comments] |
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