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+--- Thread: SiaCoin Price Manipulation? (/showthread.php?tid=5627857)
SiaCoin Price Manipulation? - xatt - May 20, 2017
So I started day trading (Buying low, selling high) It seems like everytime I sold big, the price skyrocketed and everytime I buy a lot, the price goes down. And I'm talking about amounts that shouldn't affect the market significantly in any way. I thought it was just shit luck but let me explain what happened a few minutes ago.
So the price of a Sia is 0.00000XXX BTC so from now, I'm going to remove those 0's and just mentioned the three X numbers.
I'm sure we all saw the massive rise today and how it went up to 500+. I saw it come down to 495 and thought it's stable. There were sell orders from 495 through 470 and below. As soon as someone made a purchase from the top price, they literally all disappeared and it dropped to 466 as the next one. It looks like they were all canceled.
Now if someone could explain this to me, only way for that to happen is to cancel the active sell orders for each of those numbers. how did they all get canceled so quick? It doesn't seem like everyone bought all of them at once. From what I saw, "whales" are trying to manipulate the price and feed off of smaller holders.
Is this legal? Did I miss something?
* - The Original - May 20, 2017
i suggest you to follow resistence points and sell wall spikes today a big whale put order and fuck the resistence and sell wall i followed him and i made 80$ in few minutes
* - xatt - May 20, 2017
(May 20, 2017 11:22 PM)The Original Wrote: i suggest you to follow resistence points and sell wall spikes today a big whale put order and fuck the resistence and sell wall i followed him and i made 80$ in few minutes
So before the massive spike today, it was peaking at 350 which was an all time high so I'm watching this bitch for like 10 minutes, the second I sold a big amount at 349, it skyrocketed to 378+, I'm talking like within a minute. It's staying up there, and I'm like shit, so I watched it for a while, it did not go down, the second I bought back with all of my BTC, it tanked back down to 350.
What I noticed was fishy was the orders were all in totals of 0.XX like the majority were small amounts when it comes to investing. I'm assuming a big whale like put small amounts into each number to create a so called "rise" and eat other people's Sias. RIP.
* - Legacy © - May 20, 2017
That's why I don't like to day trade, I am just looking few times per day and seeing my profit grow massive.
* - Theo™ - May 20, 2017
I am never a fan of day trading, i'll rather put my investment and let it grow.
* - Dark Skin - May 20, 2017
(May 20, 2017 11:49 PM)Theo™ Wrote: I am never a fan of day trading, i'll rather put my investment and let it grow.
Same, I'd rather leave it and let it Go or let it Grow, too much tension day trading.
* - xatt - May 20, 2017
(May 20, 2017 11:49 PM)Theo™ Wrote: I am never a fan of day trading, i'll rather put my investment and let it grow.
(May 20, 2017 11:52 PM)Christiano Ronaldo Wrote: Same, I'd rather leave it and let it Go or let it Grow, too much tension day trading.
Yeah I learned that the hard way, got fucked over today but I'll just leave my funds to grow. Missed out on an extra $2.5k
* - Sonymous - May 21, 2017
(May 20, 2017 11:27 PM)xatt Wrote: So before the massive spike today, it was peaking at 350 which was an all time high so I'm watching this bitch for like 10 minutes, the second I sold a big amount at 349, it skyrocketed to 378+, I'm talking like within a minute. It's staying up there, and I'm like shit, so I watched it for a while, it did not go down, the second I bought back with all of my BTC, it tanked back down to 350.
What I noticed was fishy was the orders were all in totals of 0.XX like the majority were small amounts when it comes to investing. I'm assuming a big whale like put small amounts into each number to create a so called "rise" and eat other people's Sias. RIP.
There are more and more robot. You sell -> the price drop a bit -> the robot buy automatically. You buy at their target -> they sell -> price goes down.