It's ok, I even typed things a bit slower than normal.
Such a gentleman
When you think back to my reply (which was trying to just present the information you left out) and then your reply and your then follow up, it is sort of ironic, no?
Anyway, the moving up of bid walls can easily be construed as manipulative when they are followed by a dump.
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I suppose it is yes, although unintentional.
I can see how it can be construed like that though. Do you believe that it is quite a common market practice? (Not specifically BTC)
Yeah, I wasn't trying to give you a hard time with my original reply.
I think it can be done with low float "stocks" easier. Things with high volume require absolutely huge amounts of resources to manipulate.
Again, I'm not saying a "wall" is manipulative. I mean if somebody wants to sell 1000 in one drop, that is their perogative but it would be MUCH better to do so slowly and not frighten people away (unless we are in super bull mode).
But when you watch the video (which is at higher speed), and you see the walls being moved up as the price slowly moves up and yet never really getting close enough to buy, always staying at arms length... Why the heck would someone do that? That basically "means" they are slowly chasing the price to buy and are two steps behind constantly? Just buy at the price or keep your bid there, don't follow the price up.
They are not following the price up to buy, they are doing so to put pressure on the price and buyers that want in.
If you read more of that guys tweets, it is clear he knows a lot about price movements. I didn't know all that he said however. The video put into a picture what the "wall thread" often spoke about but I never gave much thought to. And that is - walls can easily be used to manipulate price (but they also get bitten).
What this all means? Time will tell, but his semi-closing comment is that due to this guy often moving the price up like that, we are overvalued and should be at $93 (I have no idea.)
