As you probably know, several days ago Bitcoin price shoot up to $420. While it's not a big move by Bitcoin standards, it's still highest in the last 4 weeks. A lot of people became optimistic...
And today several things happened:
- price went back to $415, with a week-high volume on bitfinex (massive dump)
- people are reporting that a spam attack is back: https://twitter.com/WhalePanda/status/714791337711763456
- we see blocks are full posts again; skeptical comments are massively downvoted
More about spam attack, as you can see here, for the last week there was no "fee market", many transactions paying only 5000 satoshi per kilobyte were confirmed (red line on the upper graph). Then suddenly mempool size shoots up...
So... is it just a coincidence, or is there a coordinated effort to keep Bitcoin price artificially low?
This idea was formulated before, but today I was able to see it having a predictive power, so to speak: I checked Bitcoin price today only after I saw "blocks are full" article on reddit, and my prediction that massive dump is coming was right.
Of course, this could be just a coincidence. Or there might be a different causal relationship, e.g. there's elevated traffic due to a dump on exchanges.
But these alternative explanations do not look plausible, as both spam and dump are intentional rather than random.
BTW there was another event recently: a day ago we had an NYT article praising Ethereum and trashing Bitcoin (well, kinda). I don't think that NYT is on it, but it might be just a good time for a dump after this article is read.
Submitted March 30, 2016 at 03:50AM by killerstorm http://bit.ly/1RxxJJw
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