Bitcoin Forum

Yep, these assholes keep on dumping ;)

18000 BTC collected and moved to BitMex, ready for a new dump...


https://www.facebook.com/groups/Ethereum/permalink/1673794702746570/?co%0Amment_id=1675004882625552&notif_id=1534343756195535&notif_t=group_comme

https://www.tradingview.com/chart/BTCUSD/8sgVfkZZ-Bitcoin-Today-18000-%0Atransaction-on-BitMEX-wallets/



We need address this kind of manipulation and these assholes need to be brought DOWN.
Have more info? Please share it here and lets collect as much info we can.

You can't dump Bitcoins on Bitmex :) You can only short or long them. It could go in either direction.

Check out what's Bitmex and how it works here:
https://coincodex.com/article/1960/what-is-bitmex-crypto-trading-with-up-to-100x-leverage/

Let them dump.

The protocol is strong, and the long term perspectives are very good due to global inflation and fiat money printing.

extra info:

Price
From yesterday BTCUSD 3.96% showed a sustainable growth, with a hike in
volume after reaching the Bearish Trend Line and 6250 level. This
growth showed a supportive power of the 6000 – 6250 zone, which gives a
hope to bulls, but still consideration of any reversal will need more
confirmations. The most important requirements to change outlook from
bearish to correction/reversal is to stay above 6250 level. From the
above, 6600 level will be the next resistance. A comeback below 6250
and Bearish Trend Line will send the price to test the next support at
5750 (2018 low). Also, it is worth remembering that the SEC is now
scheduled to decide on the Bitcoin 3.96% ETF ruling by September 30,
so, presumably, we will not see any significant developments until this
date (or premature SEC statements), rather it will be a lateral
volatile trading ruled by rumors.

Today forecast
Trading in the 6250 – 6600 zone.

Latest news

    Comments from Nick Szabo on ETF
    A well-known cryptographer and pioneer in the field of smart
contracts, Nick Szabo on Twitter expressed his fears about the approval
of bitcoin-ETF. In his opinion, there will be more cons than pros from
crypto-exchange-traded funds approval.
    “I for one am not lobbying for an ETF or for Wall Street-managed
money in general. It might cause more problems than it's worth. The
recent sell-off by dumb money has or soon will deprecate many
opinionated know-nothings in this space. We don't need new ones to take
their place.” - @NickSzabo4
    Big whale transaction on BitMEX wallet detected
    Yesterday at 8:50 UTC time, a transaction involving 10 BTC 3.96%
went to a BitMEX-associated wallet. It didn’t seem like much, but less
than half an hour later, another 16 wallets sent 17,990 BTC 3.96% ,
bringing the suspected BitMEX wallet’s balance to a grand total of just
a hair over 18,000 coins, this was a few hours before BTCUSD 3.96%
showed a recovery movement from the 6000 level.
    Such noticeable transactions sparked conversations and fears across
the community in multiple social networks: whether that will be a short
or a long position... Here is the synopsis of the most meaningful
opinions:
    “They have to make sure the price stays below $6150 until futures
close tomorrow.”
    “Shorts are stacked a mile high. Expect volatility .”
    “Aside from the possibility that the exchange is consolidating
coins to a cold storage wallet, it could also be providing liquidity
for its trading platform. Either of these conclusions could be likely,
considering that it just recently posted another record-breaking
trading volume of over 1 million BTC 3.96% .”
    Anyway, one thing stays clear, we should expect a high volatility
soon, and a fall further down stays in a high probability for now.

Whit 18000 BTC damage can be done easily

I'm wondering why the Ethereum support group is interested In the bitcoin dump? You have enough problems of their own? Look at the prices and profitability of ETH mining. If the acne will bring your idea of switching to POS until the end of the ETH have nothing to save. Think about it.

This is not manipulation. If someone owns 18K in bitcoin and wants to sell, that is their choice and there is nothing anyone can do to stop them. If there was a way to stop a sale then I would be selling all my coins as well.  
If you want to see a higher valuation of bitcoin then you are going to have to do something other than trading crypto for fiat, back and forth again and again.  All that does is create wild swings in price and favor the person with a lot of coins. This is the economic model WE built and it is not unfair for someone to profit from that model.

oh nooooo..

i know this adress its donald "lambodriver" drump, he is a petahash trillionaire and owns huge amounts of bitcoin miners, he is effectivly the donald trump of the bitcoin pow cult.  he probably needs to pay his electricity bill again  ;D ;D

https://i.imgur.com/72vBvtC.png

This^

And also, bitcoins being moved to an exchange doesn't automatically mean the owner is going to dump it. What if maybe he/she just put up a sell offer at $7000(or higher) or something? Dumping that much bitcoin on a single exchange isn't a good idea to start with. Jeez. Too much panic.

This.

In a free market you can sell your coins if you want. We have no idea why the owner of the coins is selling - perhaps they're buying  house.

I think this is not the thing to be worry about because I think we all should know that bitcoin is a decentralised crypto currency and moreover bitcoin is volatile in nature and a kind of investment so all these factors contribute a lot in flactuation in the valuation of bitcoin so ups and downs and pump and dumps are very common in bitcoin and this should not to worry about that much , though this time the valuation has deflated to a very low extent but still there are hopes that it will inflate again.

Let them do what they want to do, if they want to dump btc I have no problem with thta, I'll be buying more then. Let's see who will win in the end.

I have heard about that but it seems like few days after a while still having $6,500 price and everything is going quite well and stable, so maybe it was not a signal of upcoming dump.

I don't think selling large amounts of bitcoin is necessary a bad think if you are looking long term.
If the whales start selling, It's bad for the price on the short term, but its great for bitcoin distribution.
In the end price will recover and there will gradually be less whales that can cause huge price swings by selling large amounts.

So in short. I don't mind whales dumping bitcoin, since I'm willing to HOLD for the long term.

These exchanges are built an unregulated space so basically you can do nothing about it even if the owner decides to dump. Moreover, you can't dump coins in a exchange like Bitmex since they are well aware of it and because of it they have changed their regulations, there is separate page on their website about their latest regulations, do give it a look.

with only 18k BTC, I don't think it will hurt the current market
>90k BTC transacted daily in the last couple months, so I doubt that 18k will make big chance in price
just for comparison, there are ~200k BTC transacted daily in january-february 2018
that is when the market crashed from $15k to $7k :-X

Anyone can make a Bitcoin address with "3BMEX" at the beginning.

There is no proof that this is a BitMex address.

Also, the whale can place buy order instead of sell order.

You cannot just predict a dump by looking at someone moving their coins to an exchange. There are other possibilities too, like selling them for their own profit or may be the previous exchange was not preferable to them. Anyways, we cannot do anything about it right now rather than observing the situation.

one thing about a forum that people usually forget is that when you put something in here, it will stay here. even if you later on edit/delete it, the shame doesn't go away :D

lets review what happened with that 18000 BTC and the "dump" OP was talking about on 15th.
by the time this topic was started price was around $6400, then it started rising up towards $6600 in a couple of hours and then came down to $6200!
in other words that day and even in the following 6 days until today we never had anything more than normal fluctuations (3% up and down)!!!

LInk broken but still i was able to get the link from the updated one on facebook. This is truly indeed dumping so much BTC and this will create an impact on the market price down. We could expect things like this to happen because most probably those who let this market goes up like this are these huge investors out there and now they withdrawing so whats left? IT will be the small scale investors. Anyway we should be thankful because without them there could no more huge market price fluctuations in the near future.

That's how speculation works. There really aren't any tried and tested methods to predict how the Bitcoin market will move, so people try to look for anything and everything they can use. A move like this could actually be significant depending on the context (like Roger Ver moving 25k coins to an exchange last November lol), but this one obviously isn't. This mentality about whales being able to freely control the market has become a self-fulfilling prophecy where we allow them to affect the market simply by moving their coins.

We don't want Bitcoin dumped again. This is just a theory, maybe it moved to BitMex for other reasons. I hope my opinion is right so Bitcoin won't dump because of this movement. We will see about that. Fingers crossed.

BitMex is a new trading site, so it needs to show a lot of trades and, importantly, Bitcoin to start the operation of a completely new trading site. But then, when running smoothly, Bitcoin naturally evaporates.

but we can't really call that speculation because speculation is supposed to be based on facts not based on guesses. speculation itself can be a guess but the basis must be facts. in this case when you see coins move you would be making 2 guesses and them making a conclusion. the first guess that nobody mentioned is that you are guessing it moved to "an exchange". the fact is you don't know where they moved. it may just be to another wallet, or it may even be sold off the market not on exchanges. and the second guess that others also said is that you are guessing they were "sold"! for example when someone moves coins to an exchange it may be to put up a fake sell wall preventing the rise so that they can BUY more.

And it's on an exchange that only allows users to take positions rather than "dump" coins.

Speculation in Bitcoin is even more obscure because of so much hearsay like the OP saying that a massive dump was coming but the price only moved a couple hundred. This market is too wild to have stable evidence in a majority of the cases. A lot of it comes from news pages that want to enforce a certain perception, or from forum posts with dubious validity.

Besides, this isn't even that big of a deal. If someone wants to sell that many coins, that's fine. They're theirs to do what they want with them.

I'm not worried at all. Let them dump, I have no doubts on BTC.
The price will grow in few weeks anyway, do not worry.

I'd say it still fits the definition:


You know the coins moved somewhere (and there are tools that may tell you where), so in the end you're speculating on a possible outcome of an action. I don't think the semantics matter either way though lol. People won't stop doing this for as long as whales maintain their reputation, which they may not deserve to the same extent anymore given the size of the market.

That would be more than 110 million dollars if someone cares for the dollar value. And how do you know that this dude isnt trying to increase his btc stash by selling huge amount of btc and temporarily chrashing the price to buy more btc back?

Ohh the game time starts again. Again the market manipulators are transferring bitcoin to bitmax and the prices of the bitcoin will go down again. These kind of criminal activities should be prohibited and investors should understand the situation before making any investment.

I think the users of other coins should not worry about bitcoin as their own coins are in miserable position.  The quote goes like this “Oil your own machine”. So users of Eth should solve their own problem then point any figure on bitcoin.

No need to worry. We must be prejudiced. Maybe the 18k BTC owner just wants to move the coin. Because I'm sure he also knows that dumps aren't good for many people.

Certainly such a quantity may influence prices in the current market condition, but it does not appear to be the case. The negotiations on Bitmex are based on short and long, and not necessarily on Bitcoin / fiat, so I think the "damages" will be limited.

Yeah no, that's not how it works. That 18,000 btc could have been moved to Bitmex for various reasons,like say exchanging them, trading them.

Dumping isn't really possible and would be pretty obvious.

Yeah, most people don't know that. People like jumping to conclusions without putting actual thought into it.

Because of the ETF and also because BTC is so close to 3 resistance on 4h chart, well, we could have an interesting scenario.
Over 6640 is breakout if high volume (etf approved scenario)
Slightly staying healthy above support at 6472

I am sure about the news but if it is actually happening we should not consider them as dump, it the investors choice if the want to sell 18k with his full confidence then no one have anything to do about this

Now is a very uncomfortable situation on the market for this I'm not surprised that someone is selling large amounts of Bitcoin. I think that this is a temporary problem for the market.

let them do it.. dumping bitcoin. let's see how the market will react

its amazing to me because i want to invest a new coin which are make more profit. i think it will make more profit. because its structure is more strong and its provide very good service.

well the coins could be used to go long also so not necessary a dump .Time will tell

all this market decline will end once do not worry and we will all get our long-awaited arrival again... ;)

crazy at it sounds but does price genetically followed by what price this 18000btc being sold, so much hypothetical mind consuming idea pop out to your brain if you would see something this big being sale on the market.

if it will do it is good for btc. but i have no idea about it. i want to know more about this. it will be do something good. if it is good for trading i will invest here.

I think this news is fake to drop the price of bitcoin. If this really happens then it would not be good for the investors as there are not many BTC available in the market. So if it is a fake news then investors should not worry about it.

I think that is the issue here. How can we know who is doing this? Will BitMex share identification information of these people with law enforcement authorities ? I don't think so, because then BitMex will lose customers. This kind of market manipulation is nothing new it happens in traditional stock market but the fact that cryptocurrencies are decentralized and anonymous  it is very hard to pin point the bad guys and penalize them.

The price of bitcoin for today was the cause of people that has enough profit expectation when it was pumped a while ago. But to be honest, I guess bitmex has something to do with the pump as well.

Let them dump, naivety in bitcoin is the cause of their panic dumping. They will bite their fingers when bitcoin start mooning.

Its not true news for me because no one can dump bitcoin on bit ma. Here investor can do only short and long. So its very simple that it could go any direction.

Those signals can be considerable, but we cannot rely on them as on the firm thruth. The only thing that we can predict for sure as that bitcoin will be volatile, up and down cycling.

I think Bitcoin is a free market system, where any investor can withdraw or retain his investment at any time. In that case, we have to be careful about our own investment.

Hopefully nobody will ever dump Bitcoin. Many such attempts have come from the previous phase. But Bitcoin is in its own position. Looking forward to seeing what happens in the future.

It may be that someone has accepted the bitcoin and is preparing to sell at the next level. So we should be careful about this market so that we can keep our investments safe.

I'm afraid this move was calculated. Might have been in relation with that sudden move of btc to 6900 on bitmex? Someone needed the bitcoin at the right place at the right time... What i dislike a bit is uncorrelated data, if that bitcoin was just a portion on the pie one had on another account or company, for bitmex long and short business, then we are looking at a mouse, and cat at the same time.

I find nothing suspicious here to be honest because I have seen quite a few pump and dump cases and none of them were as huge as dumping 18,000 BTC altogether. May be the owner wanted to move it to a new exchange where he might be able to sell it for a higher price. I personally, don't think it has anything to do with manipulation.

We cant control them whenever they want to sell some of there bags , Yes it could impact and manipulate the market price still its their game. Us tadpoles could only whine and see price falling after they dump their bags.

Actually 18k bitcoin is big enough to move price in 1 market, especially if not a big volume market. Well, i think the owner wouldn't dump it at all. Or maybe that is bitcoin that sent to cold wallet or something that exchange want to save for back up.

Let's see how the market will react. Because its structure is stronger and provides very good service. Time will tell. All this decline in the market will end once no worries and we will all get our long awaited again, lots of ideas to consume hypothetical ideas appear in the brain if you see something big is being sold in this market.

If I were holding 18k BTC, with the current price, I get to sell systematically! Being a currency that has established itself I should have less to worry about compared to one PnD tool I stumble over! I would make the much I want, but it would be 2BTC a day, not in a rush at all, and when I do I divert it to somewhere safe in an investment out of crypto! 18K BTC dump with the current low on the market can send the price of BTC to $3k, Lets wait and see what the market makes of itself in a few days!

no need to worry about this, if indeed 18000 BTC is ready for sale, I will also definitely wait when the BTC price is cheap,
buyback, then wait for prices to recover and feel even greater profit
remember, that Bitcoin is a decentralized asset

to you and all the rest who are bumping this topic up today:
in case you missed it, this topic is already 2 months old and it was pure FUD imagination of the starter of this topic. he had no proof of funds moving and also even if there were any transaction of that size it still couldn't affect anything as you can see  clearly on the charts for the past 2 months.

It still has relevance, because it stands as proof that dumping of coins on an exchange does not necessarily guarantee a dumping of coins on the market and also that it gives us a opportunity to reflect on the outcome of this discussion, even if it is 2 month down the line.

A whale might deposit the coins and gradually start selling the coins in small quantities without having any significant impact on the price. Yes, it might not be that evident on the price, but it still have a minor impact over a longer period. <Price stagnation>  ::)

Many people still hold and waiting to sell their bitcoin. I think many account still hold bitcoin with amount above 1000 coin. Just hoping they not selling at same time and make the price drop again

Daily Bitcoin circulation is over 21000 BTC