ETH BUBBLE IS OVER BTC BEING TAKEN OUT OF POLONIEX

[synthgauge]

Great selling pressure has been shown in eth for the past 5 days and it seems like downtrend gets stronger as the time goes by. Eth gets hammered and sold for btc or fiat and even though it doesnt justify such massive outgoing transactions. In one moment amount of bitcoin in eth orderbooks exceeded the poloniex cold storage and this fact alone let me into conclusion that the bubble could be bursting now as profits being converted into btc and pulled off exchange. I think this pump was timed in such a way that they could take advantage of the time left till halving regroup and get prepared for the btc advance.

[galdur]

Yeah, and there are other wondercoins that have pooped up lately and are being valued in the hundreds of millions of dollars presently. It seems to be pump and dump season.

[synthgauge]

Their plan was spot on from the beginning. Start the pump in january, get it over 0.035 before the end of march and afterwards slowly dump what they have been accumulating for the past 6 months. Huge bitcoin being withdrawn means its considered unnecessary for leveraging the post-bubble market. Which in turn suggests that there might be nothing to leverage as long as they finish this rally. They did withdraw whats redundant and left whats necessary to provide support.

[galdur]

Yeah, and miners have piled into it as the price has ballooned. Probably among them some notable operations close to bankruptcy after the huge Bitcoin difficulty increases. Too much supply for the bubble to last long.

[The Sceptical Chymist]

Yeah, and there are other wondercoins that have pooped up lately and are being valued in the hundreds of millions of dollars presently. It seems to be pump and dump season.

In spades.   Yobit even started that whole IOU thing with Lisk, as if there weren't enough coins to speculate with.  Eth rose too high too fast anyway.

[b1007]

Seems like Ethereum is on her period     I think next bubble will be bigger than the previous one though...

[galdur]

Seems like Ethereum is on her period     I think next bubble will be bigger than the previous one though...

It´s still priced at almost 700 million dollars. That´s some serious money. Maybe it´s really worth it or even more, I have no idea. The market will have to decide.

[LEONPATTON]

The ETH rinse and repeat was fun you gotta admit. Next up Lisk.

[poochpocket]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

[synthgauge]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

[sofu]

The ETH rinse and repeat was fun you gotta admit. Next up Lisk.

Not instantly. Hope they shake out some IPO buyers first with some trolls and FUD 

[poochpocket]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

Those 8 addresses alone total $16.8 million USD. That's just the few I listed, there are many-many more like that, all with perfect 5k BTC chunks in them.
What do you think is most plausible:
 - A single customer withdrew well over $17 million USD from polo
 - More than 8 different customers each withdrew exactly 5k BTC each (~$2 million USD)
 - Poloniex is moving some coins to multi-sig addresses. (Notice the old cold storage was single and the new are multi-sig)

[orryde]

I must say, you do have a lot of clear evidence to support this claim. Looking at that chart its undeniable. People are taking their btc and moving them far far away from poloniex. ETH pump is over.

[cryptomann420]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

Because if you go to https://www.walletexplorer.com/wallet/48042905b227a946?from_address=3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW    You will see see that its part of poloniex !                          

[AtheistAKASaneBrain]

ETH still got a very solid marketcap and volume in crypto standards, but it doesn't take rocket science to know that this massive pump was planned to get as much BTC out of uninformed hands and in general dummies that buy on the FUD about the blocksize nonsense and other anti-Bitcoin propaganda. Of course money was all going to go back to Bitcoin before halving to take positions, what did you expect? Bitcoin is the undisputed champion.

[TPTB_need_war]

Investopedia 101

Seems like Ethereum is on her period

It´s still priced at almost 700 million dollars. That´s some serious money.

ETH still got a very solid marketcap and volume in crypto standards

Market cap is not a measure of anything real such as liquidity because for example if just 1% of the supply of Dash was sold it would cause the price to drop 99% whereas only 20% for Monero.

Market cap is not even a measure of how much has been invested in the coin. For example, I create 1 million tokens, then execute one transaction to buy 1 token from myself for $100. No one invested $100 million. Duh!

Much of the volume can be fake due to insiders buying from themselves to create pump of the price, which is especially likely (presumably always) in ICO and insta/premine coins (i.e. scams).

ETH is not even a hundredth of Bitcoin's market adoption:

I thus suggest an idea for a new metric for ranking altcoins.

Sqrt(M x H)

M = Mean transactions fees paid per unit time to decentralized proof-of-work miners
H = hash rate (normalized in electricity cost per hash to SHA256).

Using M = Sent avg. per hour, H = Hashrate (normalized):

Coin |	Relative Adoption |	Ratio |	Adoption-adjusted Market Cap
1.Bitcoin	6.5×10¹²	1	$6.4 billion
2.Namecoin	8.6x10¹⁰	1/76	$85 million
3.Ethereum	6.6x10¹⁰	1/99	$65 million
4.Litecoin	1.3x10¹⁰	1/500	$13 million
5.Dash	9.8x10⁹	1/663	$10 million
6.Blackcoin	7.4x10⁸	1/8784	$0.7 million
7.Dogecoin	6.1x10⁸	1/10656	$0.6 million
8.Auroracoin	5.8x10⁶	1/1120690	$5,931

I edited the table above so readers can see the "Adoption-adjusted Market Caps".

You can see how pitiful the altcoins are.

Edit: your investment money is being siphoned off into the pockets of the insiders of these coins. None of it is achieving any significant adoption.

[jeremy grol]

People are moving into VIPTOKENS and DECRED.

[orryde]

And Gamebet coin.

[Attilaloe]

People are moving into VIPTOKENS and DECRED.

Decred price is very low now, i think anyone want to invest, the time is right now for that.

[BellaBitBit]

People are moving into VIPTOKENS and DECRED.

Decred price is very low now, i think anyone want to invest, the time is right now for that.

Everything is low now.  All of them.  I see the market cap is down to 7billion - it has been riding the 8billion market cap for awhile.  Interesting movement what does it mean?