This really looks like the price got pumped to 8000 (only took a few hundred BTC buys for this) to stop loss shorts & make the fomo people buy, and now whoever pumped is dumping?
Anyone with a few millions to risk can pump and dump when the volume is this low...
This happens too often in crypto and too often people get caught doing it, not to consider the possibility, strong possibility...
This is BS they barely take any risk.
When this gets regulated I'm going to laugh.
2- The scammers come in
3- Regulators start looking
All the short sellers with tight SL buy Bitcoin you are selling at 8000. Some of you probably go long on 8000 break, just sell to them what you bought at 7900.
This happens all the time, regulators try their hardest, but they can't do anything. Simply people that try to make money, nothing's stopping them, and retail
traders keep falling for it. If I had millions to play with I would do the same when I'm bored tbh.
It's possible for retail traders to actually benefit from this. http://swing-trading-strategies.com/forex-stop-loss-hunting/
That sentence "Given that your Forex broker IS the market when a retail Forex trader places a trade, people should know that the broker knows where your stop is located."
I don't think brokers necesseraly are the one that do this, but it would be funny.
They got so greedy on Okex (in the official statement Okex say they have identified market manipulators which are organised):
Oh and then there's the pump and dump groups, they have website, they advertise on youtube even...
You also got Cramer that openly discusses market manipulation on tv, "oh ye sure I loved to do this it's very lucrative" all chill, regulators can't prove anything.
Idk why people think it's a conspiracy theory or keep getting scammed...
The price did not go up because of the shorts being closed. The reason why it went up is speculation.