Saturday, 30 April 2016

The Bitfinex and Bitstamp Market Maker Manipulation


I have been using Magnr since this last plunge in BTC price. over the last 4 days, I have been glued to my screen and have observed the Bitstamp and Bitfinex MM are deliberately keeping the price down when it should by all technical indicators show the price should have risen. Bitstamp is far worse than Bitfinex as I have seen the spread be as large as $2.00 and the buy price is hyperinflated so margin investors cannot play the bounce with the sell price is extremely low therefore trapping them. Bitfinex has in last couple of hours prolonged the downtrend that should have bounced back. Anyone else agree? via /r/Bitcoin http://bit.ly/1NcYqH7

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