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Author Topic: Mt. Gox Market Manipulation  (Read 762 times)
Razick
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April 12, 2013, 01:55:39 AM
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Mt. Gox announced earlier today that all trading would be halted until 2013-04-12 02:00am UTC. When I first found out about the freeze, the Mt. Gox USD last price was $120, however, the next time I looked it was around $123.00. It is now $129.00.

Trade is halted, so how is the last price rising? Not only that, but what are the odds that at least two of the times I looked the price would be $---.00 - no decimals?

First of all I think the freeze is wrong, but no big deal as long as they allow withdrawals, but now manipulating the price? You have to wonder: how much of Gox's money is in Bitcoin form? Is Mt. Gox trying to drive up the value of their Bitcoins so they can sell them at a higher price when trading resumes?

I may have it wrong here, but something's fishy.

EDIT: Never-mind, trade has resumed since it's now 2am UTC, but the price was changing during the freeze $120 to $123.-- is what I observed.

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