All this dumping and the amount of longs on Bitfinex have increased! Just as I thought they would.
Are we supposed to take that as a good sign?
Well some people here were saying that we wouldn't move up with all these longs attached. That some whale would probably try to squeeze out all the longs by dumping, and buy the cheap coins that would be squeezed. Well it hasn't worked so far, so will the whale keep dumping or give up?
Personally I don't think this is what's going on here.
I have a hunch that someone is in the process of buying the seized coins that are on the move and they are trying to keep the price down on exchanges since they will be buying off market at some price percentage of market value. This person may have only had an account at bitstamp, or maybe bitstamp is the price they are going to use. The people who do arbitrage have done their part to make money on this gap. If this person was dumping for other reasons, say to cause panic or to cash out, they would have done it on multiple exchanges to save a shit ton of money.
Its either that or a bear trap lol.
But who knows? Now, we just wait and see!
Poll
