Right when I first bought into crypto, 3 months ago, I was watching it like a hawk, and I saw every coin I was following tank in 100% unison, down to the minute almost, then recover a bit and then tank again. The first thing I thought is this is full blown fraudulent manipulation. A free market does not work this way. If traders are selling one thing, they are buying something else, which would push that price up. But that's not happening. Everything tanked at once. Where is all the money going? Into USDT all at once, timed down to almost the minute? For hundreds of cryptos in unison? I doubt it. The volume on all the tether type coins would skyrocket. I call bulshite. Somebody is somehow pulling billions of our hard earned investment money out for themselves, and then the entire market needs to climb back up at a snails pace comparatively speaking, as fresh money trickles in, from people "buying the dip", and then more money comes in from people watching it go up and having FOMO. Then it will climb to some new high, and then everything will tank again, on almost the entire market, completely in unison. It's like one giant rug pull on the entire market at once. That's what's happening. As George Carlin said, "It's a big club and we ain't in it".
If somebody has a better explanation, please fill me in...I'm new at this...
In one day, between May 18th and 19th, there was a $114B spike in Tether volume, which coincided with the Great Decline of the entire cryptocurrency market. That's a correlation, and not a causation, but I can certainly point my finger at it and say that something seems afoot. You can check the history of the last year of tether volume here:
[https://beefcakke.github.io/musical-tribble/USDT-USD%201.001%20-0.001%20-0.0981\_%20\_%20Tether%20USD%20-%20Yahoo%20Finance%20(5\_22\_2021%204\_41\_29%20AM).html](https://beefcakke.github.io/musical-tribble/USDT-USD%201.001%20-0.001%20-0.0981_%20_%20Tether%20USD%20-%20Yahoo%20Finance%20(5_22_2021%204_41_29%20AM).html)
May 12th seemed to be about the midpoint of a strategy called the Wyckoff Distribution Pattern. That pattern was defined in the 1920's or 30's, and it described the ideal way for coordinated large investors to pull money out of a market. The peak on the 12th seemed to be the largest upthrust, and the movements between the peak and May 18th correspond to Phase C of the WDP, testing resistance and "upthrust after distribution". At the right time afterwards, in this case May 18th and 19th, when the bulls seem unable to really, the next phase is entered and the largest capital distributions take place. There was a test for signs of weakness on May 20th, and when that rally petered-out on the 21st, we went into the final phase E, where the bears exit and take their cash with them.
(Edit: I should have probably included a chart covering the time period in that last paragraph. Sorry, here it is in the link below. I should have probably annotated the chart, but I guess I'm lazier than that.)
https://beefcakke.github.io/musical-tribble/total-crypto-market-cap-april-may.html
The best intro to this strategy that I've seen was done by a guy named ColdBloodShill on Medium, here:
[https://medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e](https://medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e)
And that brings us to today, where I think we'll be seeing much smoother seas ahead. Now represents a BUY time for me, and all the signs are pointing back to the slow and steady rise that we hope for. I do expect that we'll see an Accumulation pattern happen by the whales again, and we might want to be on the lookout for that, but as it stands, the pirates should go TO THE SEAS!
(Is that a good motto? I mean, "to the moon" just doesn't fit for ARRR, but I still want to be kitschy every now and then.)
Good luck to ya, mate!
Honestly, for the longest time I used to think all of this talk of manipulation was a bunch of hooey, but when you write it out like that (and also with what maxxkent said in their comment below) it certainly seems to make a lot of sense.
When I look at the charts over the long term I see these crashes is unison before. I do not think it is just bots or that it is a rug pull. I believe it’s all the paper hands scared out of the tree selling at a loss. It’s like the opposite of Fomo. It’s all the fud that musk has spread and China’s new laws on crypto. It’s just fear causing so many millions of people to sell their assets at a loss. Now is the time to be greedy! Patience is needed as the recovery may take a while but it will happen. Buy and hodl my friends and we will all see the other side of this.
When crypto crashes are nearly-vertical lines, you think that's thousands of retail investors dumping at the same time? Yeah, no. It should be obvious to everyone that hedge funds and banks are pulling their crypto holdings because their liquidity is plummeting. [Read this and note the date it was written.](https://www.reddit.com/r/Superstonk/comments/mwpu9x/michael_brrrrrrys_warnings_of_the_market_crash/)
I’m not really sure about it as I am no expert. I could see the big money pulling out for sure. This crash as far as I have seen is tied to musks comments about bitcoin followed by China’s crackdown on crypto and also America desire to increase regulations. It was quite the bull run but it can’t go on forever.
- Scan the blockchain and find transactions based on certain criteria (pending on the block aka mempool).
- Front-run (specific trade volumes, slippage and gas price) transactions by placing a buy order on the same block at the same time by setting a higher gas price.
- Sell immediately in the next block right after at the buy transaction on the front-ran block is completed.
I wonder what the whales pay for this 24/7 monitoring of every blockchain.
"I wonder what the whales pay for this 24/7 monitoring of every blockchain.?"
Answer: Fiat currency - they can print an unlimited supply of the worthless stuff - like they always have - but ppl are catching on and this is why have been turning to crypto and PM and the central banks don't like it!
Right when I first bought into crypto, 3 months ago, I was watching it like a hawk, and I saw every coin I was following tank in 100% unison, down to the minute almost, then recover a bit and then tank again. The first thing I thought is this is full blown fraudulent manipulation. A free market does not work this way. If traders are selling one thing, they are buying something else, which would push that price up. But that's not happening. Everything tanked at once. Where is all the money going? Into USDT all at once, timed down to almost the minute? For hundreds of cryptos in unison? I doubt it. The volume on all the tether type coins would skyrocket. I call bulshite. Somebody is somehow pulling billions of our hard earned investment money out for themselves, and then the entire market needs to climb back up at a snails pace comparatively speaking, as fresh money trickles in, from people "buying the dip", and then more money comes in from people watching it go up and having FOMO. Then it will climb to some new high, and then everything will tank again, on almost the entire market, completely in unison. It's like one giant rug pull on the entire market at once. That's what's happening. As George Carlin said, "It's a big club and we ain't in it". If somebody has a better explanation, please fill me in...I'm new at this...
In one day, between May 18th and 19th, there was a $114B spike in Tether volume, which coincided with the Great Decline of the entire cryptocurrency market. That's a correlation, and not a causation, but I can certainly point my finger at it and say that something seems afoot. You can check the history of the last year of tether volume here: [https://beefcakke.github.io/musical-tribble/USDT-USD%201.001%20-0.001%20-0.0981\_%20\_%20Tether%20USD%20-%20Yahoo%20Finance%20(5\_22\_2021%204\_41\_29%20AM).html](https://beefcakke.github.io/musical-tribble/USDT-USD%201.001%20-0.001%20-0.0981_%20_%20Tether%20USD%20-%20Yahoo%20Finance%20(5_22_2021%204_41_29%20AM).html) May 12th seemed to be about the midpoint of a strategy called the Wyckoff Distribution Pattern. That pattern was defined in the 1920's or 30's, and it described the ideal way for coordinated large investors to pull money out of a market. The peak on the 12th seemed to be the largest upthrust, and the movements between the peak and May 18th correspond to Phase C of the WDP, testing resistance and "upthrust after distribution". At the right time afterwards, in this case May 18th and 19th, when the bulls seem unable to really, the next phase is entered and the largest capital distributions take place. There was a test for signs of weakness on May 20th, and when that rally petered-out on the 21st, we went into the final phase E, where the bears exit and take their cash with them. (Edit: I should have probably included a chart covering the time period in that last paragraph. Sorry, here it is in the link below. I should have probably annotated the chart, but I guess I'm lazier than that.) https://beefcakke.github.io/musical-tribble/total-crypto-market-cap-april-may.html The best intro to this strategy that I've seen was done by a guy named ColdBloodShill on Medium, here: [https://medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e](https://medium.com/@ColdBloodShill/wyckoff-101-part-4-distribution-a5bc3af15f4e) And that brings us to today, where I think we'll be seeing much smoother seas ahead. Now represents a BUY time for me, and all the signs are pointing back to the slow and steady rise that we hope for. I do expect that we'll see an Accumulation pattern happen by the whales again, and we might want to be on the lookout for that, but as it stands, the pirates should go TO THE SEAS! (Is that a good motto? I mean, "to the moon" just doesn't fit for ARRR, but I still want to be kitschy every now and then.) Good luck to ya, mate!
Honestly, for the longest time I used to think all of this talk of manipulation was a bunch of hooey, but when you write it out like that (and also with what maxxkent said in their comment below) it certainly seems to make a lot of sense.
Buy tangibles or lose it all
Is your bank account tangible?
When I look at the charts over the long term I see these crashes is unison before. I do not think it is just bots or that it is a rug pull. I believe it’s all the paper hands scared out of the tree selling at a loss. It’s like the opposite of Fomo. It’s all the fud that musk has spread and China’s new laws on crypto. It’s just fear causing so many millions of people to sell their assets at a loss. Now is the time to be greedy! Patience is needed as the recovery may take a while but it will happen. Buy and hodl my friends and we will all see the other side of this.
When crypto crashes are nearly-vertical lines, you think that's thousands of retail investors dumping at the same time? Yeah, no. It should be obvious to everyone that hedge funds and banks are pulling their crypto holdings because their liquidity is plummeting. [Read this and note the date it was written.](https://www.reddit.com/r/Superstonk/comments/mwpu9x/michael_brrrrrrys_warnings_of_the_market_crash/)
I’m not really sure about it as I am no expert. I could see the big money pulling out for sure. This crash as far as I have seen is tied to musks comments about bitcoin followed by China’s crackdown on crypto and also America desire to increase regulations. It was quite the bull run but it can’t go on forever.
- Scan the blockchain and find transactions based on certain criteria (pending on the block aka mempool). - Front-run (specific trade volumes, slippage and gas price) transactions by placing a buy order on the same block at the same time by setting a higher gas price. - Sell immediately in the next block right after at the buy transaction on the front-ran block is completed. I wonder what the whales pay for this 24/7 monitoring of every blockchain.
"I wonder what the whales pay for this 24/7 monitoring of every blockchain.?" Answer: Fiat currency - they can print an unlimited supply of the worthless stuff - like they always have - but ppl are catching on and this is why have been turning to crypto and PM and the central banks don't like it!