NAKED
Highly volatile days like today are when you can SEE appearance of naked shorting in real time. Bittrex is almost all buy-and-holders of #BSV. Other exchanges don't really have any natural buyers/sellers, all large entities pushing things around.
Notice the 6% premium?
Last year I witnessed that difference at > 40% when crypto was getting punished. All buyers on Bittrex, no sellers even at 40% premium to OKex & others.
Notice the denominator to the pair? It's Tether.
Notice demon to buyers on Bittrex? It's USD.
Compare the volumes now.
Any retail US trader has to use Bittrex to buy #BSV, so how is volume 1/100th the vol. on OKex? OKex has whales that own #BSV & are selling at all-time-low prices? Poppycock. Just wash-trade BSV down on OKex w large $ volume & Messari/WorldCoinIndex/etc algos report price⬇️...
...which then scares the hell out of natural buyers on Bittrex, who either panic or hit sell-stop-limits & get sold at loss, which lessens risk of the scheme for manipulator, who goes further with it.
BSV/Tether 100x > vol. of entirety of American retail buyers of #BSV/USD? NOT!
How did today's 6% price differential become 40% last Spring? At some point in downdraft, #BSV buyers refuse to sell, no more stop limits, all weak hands gone. Nothing but buyers (bids) & no sellers (asks) on Bittrex, but other exchanges still going lower (somehow).
FAKE DATA
On exchanges like OKex, BitFinex, Binance (even some who SAY they don't trade BSV but offer it to large institutions) there's 100x the sellers of Bittrex all excited to own Tethers? Sound like a BSVer you know? NOT.
Because the sellers "likely" dont exist.
aTale of 2 traders...
Homework 4U:
Ask your friendly neighborhood cryptoCrap price aggregator website how they calculate which price to show you for #BSV. Ask for the algo, bc remember kids, there's MANY exchanges BSV trades.
Ask @CoinMarketCap @MessariCrypto @WorldCoinIndex etc how they calc price
Will leave u this...
Future joke on #Hilarist app:
What did Spidersam say to Spidersam in the #BSV trading pit?
Let's agree to disagree to agree #BSV's price is lower.
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