BTC Pumping After The Arrest of Sam

[OnZen]

Sam Bankman Fried was recently arrested in the Bahamas at the request of the US government. He may soon be extradited and face the biggest legal challenge of his life as a result of the numerous violations he committed at FTX and Alameda Research. He has a significant probability of going to jail, which might be beneficial for everyone in the cryptocurrency sector by delivering the message that we must all abide by the law and refrain from doing foolishly. 

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest. This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

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[coolcoinz]

This is old news. Sam is already out on bail and is not coming back to jail unless he tries to flee and gets caught or commits another crime while on bail.
If there's any connection between FTX and bitcoin pump it's that the liquidators claim to have found most of the money that used to be considered "lost" by FTX. It appears they still had over $5B in various assets lying around but due to their bad management they didn't know what is where.
I'm just waiting for them to announce that FTX really wasn't insolvent and Sam the idiot forgot where he kept the money

P.S. The real reason for the pump was a short squeeze on exchanges.

[NeuroticFish]

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest.

Actually the arrest was some more time (weeks!) ago.
If we want to link the pump with FTX, a newer update was that SBF has found some $5 billion of the FTX money "in his back pocket" (about 1 week ago).

This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

While some of the politicians and media he was paying would like him stay out and pump more money, the bitcoiners know that
* he ran something between fractional reserve and plain Ponzi scam
* he most probably did scam
* he most probably deserves prison time

Even more, bitcoiners know that
* bitcoin reputation was affected only in the eyes of those who have absolutely no clue about bitcoin
* if people would keep their money in their own custody, this kind of crap would have no fuel to happen

[coupable]

However, this cannot be the reason for the price improvement, because it has occurred since the beginning of last month.  Moreover, stopping him does not solve the crises in which the market occurred because of him, because he simply cannot compensate for the losses because the value of his property and the property of the platform exceeds the compensation that is supposed to be paid to the direct affected users of the platform.
 The improvement in market prices in recent days may be caused by the announcement of the start of disbursing compensation to those affected by the mtgox scam, starting next March, and the announcement of Ethereum about the fork, which will enable the beneficiaries of staking services to withdraw their money.

[retreat]

That's not the reason for Bitcoin to go up at the moment, it's more to the decline in US inflation and the good news from the FED which encourages investors to invest their money in the market and that's what drives the price of Bitcoin to increase significantly from $ 18K - $20K https://cointelegraph.com/news/why-is-bitcoin-price-up-today.

[Osama Maaz]

In my opinion the last dump from 18k$ to 16k$ is directly  the impact of FTX treasury, So when we see some positive news about crypto us inflation numbers then we break the resistance with an extraordinary volume and after the break of 20k price , We pass the physiology briar and now FOMO traders jumps in which takes the price to further fights , So Now its expecting that we might come a little down but we need to see  some further pumps before coming to retest 18,19k levels .

[Erumo]

In my opinion the last dump from 18k$ to 16k$ is directly  the impact of FTX treasury, So when we see some positive news about crypto us inflation numbers then we break the resistance with an extraordinary volume and after the break of 20k price , We pass the physiology briar and now FOMO traders jumps in which takes the price to further fights , So Now its expecting that we might come a little down but we need to see  some further pumps before coming to retest 18,19k levels .

Why do you think Bitcoin is going to retest something? Several years ago, Bitcoin has climbed from 18k to 40k in about 45 days and there we no price drops more than several percent. Not like 10-15% as you say it is going to retest bottom. So why think this time it would be different? Imho, it looks more that we are going to stuck on that 20-21k level for quite a time, and then... Nobody can predict what will be then. Chinese New Year, 1 year Russia-Ukraine war, new sanctions, scams. Anything can happen dude.

[kryptqnick]

I thought it was a new development, following his arrest and bail earlier, but it seems that it's not the case and the op just wasn't aware of the situation. Something fresh did happen, though, as according to CNN, he spoke out for the first time since arrest just 4 days ago, and the price has been on the rise since then. That being said, it's merely a correlation, and there's no good reason to believe there's a causal relation here. Whether this guy is going to prison or not remains to be seen, but it's good that this situation is being investigated, and I really hope that the victims will get at least some of their money back.

[Accardo]

However, this cannot be the reason for the price improvement, because it has occurred since the beginning of last month.  Moreover, stopping him does not solve the crises in which the market occurred because of him, because he simply cannot compensate for the losses because the value of his property and the property of the platform exceeds the compensation that is supposed to be paid to the direct affected users of the platform.
 The improvement in market prices in recent days may be caused by the announcement of the start of disbursing compensation to those affected by the mtgox scam, starting next March, and the announcement of Ethereum about the fork, which will enable the beneficiaries of staking services to withdraw their money.

It's easier to predict the reason to a plunging bitcoin price compared to the bullish bitcoin price. They are many criterion starting from the market makers, whales and individuals in the market who can impact positively to the market price. I think we should be more concerned about how far it'll go and worry about if it'll go back bearish. Guessing over the reason we are making profits shouldn't be a problem as we may be predicting wrongly.

As for SBF's arrest being the reason to an increase in price it's wrong, if he has been tried and accepts to refund affected customers their money then it could help the market go back in place. Since the crash of his company affected the market price, fixing his mistake can help the correction of bitcoin price. I think at the moment, bitcoin price has not moved so bullish to call it a bull run we are still bearish. Wait for 30k

[Woodie]

I remember seeing some headline over a week ago that was saying Sam Bankman was denying the allegations made over FTX being insolvent and I guess his memory did come back after all to help locate where this missing money was.. but going forward some laws should be drafted asap to prevent these guys from playing around with money that isn't theirs.
Btw the recent Pump could be to do with anticipated recession to hit the US in Q1 and people could be looking to bitcoin and other cryptocurrencies to protect their financial situation before it hits.

[AnonBitCoiner]

This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.


There are still many other reason also like MtGox changed his mind. First they given date if repayment in January and now they will make repayment in March Which reduced the fear of traders. New year start will be also a factor for Bitcoin pump because we have seen many times that big investors usually buy in the start of the years.

[headingnorth]

Never trusted Scam Bankster-Fraud and glad I never bought or sold anything on FTX. Very suspicious about why he was always promoting his scam tokens while talking bad about bitcoin.

Why were the major media always praising and promoting this guy as the face and leader of the crypto space when he has no track record to speak of? He just came out of nowhere and no one ever heard of him before but the media were already calling him the next Warren Buffet. This always gave me pause and luckily my instincts were correct. The way he dresses and looks like a homeless person with disheveled appearance was a turn off for me as well. The media should be prosecuted for aiding and abetting this criminal imo.

Bankster-Fraud probably bribed them to write such a good things about him just as he bribed the American politicians, who are mostly crooks themselves.

[Rruchi man]

BTC started has started pumping after many events not only the arrest of Sam. That is probably just the most negative event that you remember. A lot has happened in the past year and this pump is a breath of fresh air to everyone still Holding. This pump has been expected so it is not just because of Sam's arrest. The pump even if it doesn't go all the way up to give a new ATH, it offers hope and reassurance that the market still has the ability to bounce back.

[Mpamaegbu]

Bankster-Fraud probably bribed them to write such a good things about him just as he bribed the American politicians, who are mostly crooks themselves.

That practically answered the question you asked in the second paragraph of your post – on why the media dang his praises. I read about how he doled out cash like a very wealthy philanthropist to politicians, especially the Biden campaign. Show me anyone who doles out cash to politicians and wouldn't do same to the media. Is there any? None. The ilks of Sam Fried (BTW, your new coinage for his name is hilarious and seems to fit well) is the reason this industry continues to get a bad name. Greed won't allow most of the devs and teams do the right thing by keeping it straight and honest.

[Ucy]

This kind of news would not make Bitcoin excited or move up as long as the ones who control it are not excited seeing people arrested or punished.
The bull was actually predicted last year and early this year by Bitcoin Master and it has been moving exactly as predicted.

[Z-tight]

It's encouraging to see that Bitcoin has experienced some solid increases following his arrest.

The small pump didn't have anything to do with his arrest which happened weeks ago.

This shows that many people are endorsing it and may indicate that the King of Cryptos' reputation can now slowly regain its former glory. We can only hope that BTC can close the year with some strength rather than some red waves.

Nobody endorsed BTC because Sam was arrested, BTC has nothing to do with Sam and if people are going to endorse BTC, it is because of what the network is and not about Sam. I believe you are part of the people who think that the ftx dram affected BTC's reputation, i know many people think that way, when an exchange collapses, or an altcoin plunges; people generalize it that BTC had a problem, but it didn't, ftx went down, and many exchanges and centralized services will or can go down in the future, but it has nothing to do with the BTC network that is safe and secure; the price can fall with some of the bad news, but the network is safe from collapse.

[NicNacCoin]

Sam Bankman was arrested a long time ago. The news you posted is almost old news. He was arrested for the crime he committed. But his father bailed him out of jail. He is currently on bail. There is currently market pumping but nothing to do with Sam Bankman. The market is currently pumping a lot due to exchange pressure and some good news. From here, the market may start moving upwards. Those who invested and waited for the market to pump up their wait are now at a much higher level in the market. Those who invested between $15,000 and $16,000 have a huge profit today. If you hold more, the market will definitely increase.

[dunfida]

This may be the one of the BTC down reason, but there are other reasons as well. CZ tweeted as well about this that Btc price has been recovered to the place where from it down after FTX collapsed.
There are still many other reason also like MtGox changed his mind. First they given date if repayment in January and now they will make repayment in March Which reduced the fear of traders. New year start will be also a factor for Bitcoin pump because we have seen many times that big investors usually buy in the start of the years.

Really hard to point up some fingers when it comes to reasons on why price had made out some recovery.People do really love to spot out things specially in prices where it do came from
pertaining into pre-FTX issue price which is totally true on what CZ said but to be exact and precise then it would really be that hard to be precise on whats the actual reason.
This is why im not really that making myself that get stressed on why the market or Bitcoin do make out some pump which actually it is really just a small percentage
basing up on how deep we are speaking with the current value that we do have now as of this moment.

[Vaskiy]

This kind of news would not make Bitcoin excited or move up as long as the ones who control it are not excited seeing people arrested or punished.
The bull was actually predicted last year and early this year by Bitcoin Master and it has been moving exactly as predicted.

Whenever something happens related to the crypto market, people easily makes some connection to the price movement. This something like a coincidence than the real factor behind the market movement. As said by the above user, it is predicted to have a bullish start due to the market getting prepared for the upcoming year's halving. Till now no one is sure, whether the market movement will last for longer time period or not. The market price have crossed $21k and the same could reach around $25k and stabilise for the next breakout.

[Popkon6]

He must face punishment if he does anything illegal in crypto currency.  Because many investors invested here, this money must be accounted for.  Meanwhile, the cryptocurrency will not need any liquidity as the price of Bitcoin has reached the lowest level.  Now that the price of Bitcoin has increased a bit we are very encouraged.  Because investing in the past was very expensive, it takes a lot of time to recover and the price needs to be higher.  Thousands of investors like me are in dire straits.  So the current bull market will definitely increase the Bitcoin price.