One user predicted the massive May 19 cryptocurrency dump on 4chan but also claimed it was an organized campaign linked to China aimed at a single "stakeholder". As can be seen from the message, the dump was anticipated half a day before the carnage began.
As we know, the cryptocurrency market collapsed on May 19th when the prices of most cryptocurrencies dropped by as much as -50% within hours. Bitcoin plummeted to around $ 30,000 at the time, leading to nearly $ 9 billion lost in liquidated trading positions.
Additionally, reports of "China Crypto FUD", a slang term meaning "fear, uncertainty and doubt," surfaced on the eve of the sell-off.
In fact, the Chinese central bank has released a document asking financial institutions and payment providers to ban cryptocurrencies.
Meanwhile, the anonymous user also provided other important details:
“It all depends on how many other companies get liquidated in the process. This will be great and fast. Limit order of 35k if you want to be sure, but you can probably go as high as 31.25k" (May 18th)
The user's prediction turned out to be quite close to what actually happened. As for the reason, the insider claimed it was to liquidate a single "stakeholder".
He also suggested that the sale will slow dramatically around 13:00 GMT on May 19th. After that, prices would seemingly return to the green zone.
If Elon Musk alone can affect the entire cryptocurrency market, who knows how many other giant whales are hiding in its depths?
I am not familiar with 4chan. Is it possible to modify a message without the notification coming out? If so, things are explained.
Otherwise it really is Insider Trading.
Here you can find the conversation: Hey-guys-insider-here-for-those-of-you-that-are
Was the May 21 dump also planned somewhere? Let me know.
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