most probable explanation: a coordinated chinese attack to trigger stop-loss-margin-calls.
I agree with you about goal to trigger some stop-loss margin calls, but such dumping does not need to be characterized as either an "attack" nor "chinese."
agreed, but it seems like some planned/coordinated attack to shake out some weak hands or to destroy some margins.
What's new about that? Surely, over time, some whales may become more sophisticated in their attempts to keep coins on many of the exchanges, but sometimes, there is just lead and follow going on, and sometimes there may be a lead, but other players are not willing to follow.
Yeah, the overwhelming majority of folks participating in these forums are not whales, and therefore, we can only attempt to extrapolate based on what we see and what seems logical, and the dynamics change over time, including which exchanges seem to be leading and the willingness of traders to follow under certain circumstances and also what kinds of FUD is going to be affective in order to attempt to cause a panic dump or even the kinds of "good news" to attempt to support a pump.
Surely, also some theories and explanations regarding price movement make more sense than other theories and explanations.
the only question is, to what purpose?
I don't know whether there has to be a purpose, except for in the short term, it appears that this specific dump was successful in that some lead and others followed. Surely, some whales have a better ability to predict and to control price direction as compared with others, yet I doubt that anyone of them really know the longer term price direction (I guess what we would characterize as medium term, weeks to several months). I would anticipate that they frequently try to manipulate by either pumping or dumping, and sometimes the pump or dump works and other times it does not.. and when the volume is low, then it is more likely going to yield better abilities to predict for such whales.
Those of us who are smaller fish, just attempt our best to go with the flow and to set up plans that work for us, and some of us are likely better at setting up and tailoring such plans than others. In the end, maybe it does not matter so much what is your plan except that your plan is tailored to your own circumstances.
I don't see any purpose in really attempting to ascribe any kind of deeper or meaningful purpose to these pumps and dumps, except for the fact that they are going to occur and on individual levels we strive to prepare for them, even though they may take place in somewhat unpredictable ways, they are in the end, anticipated to take place and without significant rhyme or reason except for the fact that they are able to take place.
preparing for a takeoff?
I think that in the medium term, we have a fairly decent chance of price appreciation, and I am becoming a bit more bullish in my thinking that we are at least going to experience some shorter term pumps in the near future, absent some kind of hacking event or something like bitfinex in the near future. Anyhow, there are a few resistance points in the upper $600s and mid-to-upper $700s that we have to make it through before becoming too anxious about the price.
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