The Christmas crypto correction. What really happened

No sources, vague circumstantial accusations. It makes for a good story, but without more information it's just another theory. Not saying it isn't true, but it's presented as fact without very much real assurance. I don't doubt that there's market manipulation, but I have strong personal doubts it's this nice and tidy. This sounds vaguely like a conspiracy theory at times.

I’m sure there’s plenty of market manipulation but this is definitely more conspiracy theory than fact. I highly doubt Coinbase as a company was trying to insider trade on Bitcoin Cash with predatory bots to pump the price. They make enough money off all their fees, and they already have more users than Charles Schwab; they’re not some shady exchange based off-shore.

The bit about not being able to cash out over $1k is flat out false.<p>The order book history from GDAX (I maintain a personal level 3 copy) also doesn&#x27;t suggest market pressure at $12k beyond a lot of opportunists (myself included).

...Meanwhile another cryptocurrency called Ripple basically jumped up 500% during the past week. I think some people might&#x27;ve been cashing out of Bitcoin and moving to the next big thing.

Sounds plausible, but he didn&#x27;t give any evidence.

&gt; Obviously, no human would be flooding the books with orders 3X above the current market value only a minute after release.<p>Whenever such claim is made, I wonder if people in cryptocurrency have heard of the terms - market order, slippage and latency in context of trading.

This is like second rate &#x2F;r&#x2F;bitcoinmarkets fanfiction. It’s pure speculation and hand waving.<p>Although I do find it interesting that dumping $200 million worth of tethers into the market didn’t move the price.<p>There is going to be hell to pay whenever the run on tethers starts.