So I was just watching the exchange section at polo and I was happened to be on the AMP exchange page, I noticed something quite incredible and would be interested in what you guys think about it.
So amp was being sold at about 0.00007756 and was at like 10%+(green) and then suddenly there came a sell order of about 60k+ amps with price only 0.00007150
Now why would someone actually sell at such a low price when the price for the moment is quite high?
It looked quite strange to me, what do you guys think?
They are just trying to manipulate the coin's price by placing sell orders at lower price,thus making price to come down,create panic which would result in more price fall and finally they buy it at much cheaper price.Its usually done by big whales to buy potential coins at much cheaper price
It may backfire easily
Before all, to buy "potential coins" at a much cheaper price, they should first sell them, right? That is, they should first have these coins which they are going to sell. But why would they want to sell them at all if these coins have a lot of potential? If the coins do really have so much potential, people will just buy up the sold coins, and the price will remain where it is. If the sellers in question manage to start panic sell-offs, maybe, this coin is not as "potential" as it seems to be? I'm more inclined to think that the reverse scheme is more plausible, namely, when the whales at first start buying up coins in massive amounts and then dump them after the bullish sentiment is close to being exhausted
