I was trying to explain myself why someone made those spikes in Ethereum..
Here an Idea..
The spike down yesterday night completed correction to down..
The spike UP completed the rally to its upper target
leaving the current price levels as the Retracement of the 380Eur. spike..
If the the ETHEUR will not correct lower than 160 to 120 , than I am right with my explanation.
So why would someone do such things..
Ethereum jumped from 8 Eur to 180 eur in just 2 month.. So people collected the coins at the previous levels sit on huge unrealized profits..
With this trick they can now sell their ETH s to the public, since they will not allow the price dropping below 160..
So people who invested 1 Million sit now on unrealised profits 255 Millions.. If they bought his ethereums as they were costing 1€..
To get Profit, Ethereum may not correct and others must buy the 18 times inflated balloon...
評論
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Of course you must have made some profit realisations to run such operations..
評論
ligaa
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Better explanation IMO, liquidity ran out on Kraken for the second time this month and positions that were in loss were margin called one after another, forcing market buys, forcing higher price, forcing more liquidations on illiquid market etcetcetc. Check eth/usd graph from about 1-2 weeks ago when it went down to 28usd same thing happend
hkmh
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Reading The comments..l accept that my Interpretation might be exaggerated.
I will retrain in future Form smilar comments
QJames
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same kind of spikes in XBT/EUR.
codename47
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When ETH was around 40ish there was a spike with $98. There were rumors that JPMorgan bought and cleared the short margins. It was called a fail pump, but it seems it was not a pump at all and JPMorgan never lose money. I interpret this as it may correct to 98 then go to 380 euro in time.
codename47
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@codename47, every week around 5billion flows in to the market. Wallstreet guys want nerds bags for all costs.