HIVE Market Manipulation - You Won't Believe Who's Behind It!
So this happened an hour or so ago.
Someone(s) bought a massive amount of HIVE, which pumped the price from about 38 cents up to about 60 cents. Looking at the volumes, you can tell it was one or a few big buyers and then a lot of little sales bringing the whole thing round trip.
Fact 1: The 4chan guy who posted right before the market crash said that China is trying to forcefully liquidate someone's BTC position.
Fact 2: We know Justin Sun is one of the potential targets.
Fact 3: We know Justin Sun claims to have actually added to his BTC position in the past few days.
Fact 4: We know Justin is generally full of shit.
So, here's what I think is happening:
Justin is buying HIVE when needed because a) it's a small market and easy to manipulate as we see in the chart at the top and b) it adds to his collateral against his under-threat BTC position.
This is actually a genius move because it protects his BTC position while building a bag. The purpose of the bag is not to actually take profits. When BTC goes back up, the collateral is no longer needed to be held against the position.
So what does he do then?
He sends the giant bag of HIVE he's accumulated to alts on-chain and takes over the top 20 witness spots (after 30 days of course). Poof, hive gone, revenge complete.
Spread it around to 100 accounts and nobody will be able to stop it.
Buy during times of enormous market volatility and people will just chalk it up to market volatility.
So 30 days after BTC gets back into the mid-40s, watch out!
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you may really be onto something, that's some Pink Panther level stuff sir
but I mean after Wuhan can we really, really be so sure that you didn't just hit the nail on the head?
no, no we can't
..........ironically was eating a veggie patty thing and veggie chinese food dumplings, coincidence? yeah prolly
nice post
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So Trump was right?
A lab that Fauci personally funded? I doubt it.
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Actually, I've known this since soon after the pandemic started. Fauci's funding began at a lab here in the US in South Carolina. The research was deemed either dangerous or illegal so the project was moved or supplanted to the Wuhan facility. Where it continued to receive funding.
More importantly, a huge "dry-run" was done in October of 2019 with Bill Gates in prominent position. It was called Event 201, and it was a simulation for a global pandemic of a corona virus that would halt the global economy. The main focus was how all of the participating corporations would adjust their operations to deal with it. The difference: the virus originated in Venezuela rather than China.
I did not know this... Interesting.
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It's really not that hard to manipulate a small market cap and sadly Hive has a very small market cap. I wouldn't put it passed him but hopefully that is not the case. For sure though there was a MASSIVE quick buy as I saw it spike up to $0.50 and wonder WTF is going on.
Sun is a nobody on China radar man this post is trying to continue the drama of Steem/Hive when really no one outside of both chains gives a crap or even knows there was such an event.
It doesn't take much to manipulate Hive. It's likely someone from within Hive that wants fools to think they missed the recovery to get their pennies together for the next "moonshot".
Maybe even @khaleelkazi jumped ship and doesn't like what happened to Leo? Put his hooker addiction on hold for a minute and wants to accumulate Hive again... lol what is it about those Jamaican hookers that he loves so much. They don't even shave their crack!
What's happened to Leo??
Khal rebranded it to Bambi.
LOL
Interesting theory, i guess that we should be cautious with every new witness proposal or strange move.
By that point, it's really power down and leave. lol
Justin Sun pumps his Steem and hive moves with steem.
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The Internet is so fun!
Na these are auto shorts.
Can have 2 reasons. A monster whale buy ( can be sun but I don't think) or manipulations so the price of hive looks back, but at this point, sometimes the whale needs to buy back.
I'm more for version 1. Why? I track the data for some weeks. In the last 2 weeks, we see a massive buy-out on hive. The buy walls reduce from over 3M (increase 200%) to under 1.5M.
So it could be possible we see next time a massive run for hive. Because nobody would be able to sell :D Because of no coins.
Weak hands sell off already.
In general, it is really unlucky sun does something here. Maybe shorting and pressure price, but don't accumulate hive.
From his view, shorting hive should be the smartest thing to save his face.
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ha you actually wrote it
awesome
Whats all this beating around the bush for? Which accounts made purchases on that time frame?
Your post was promoted by @finguru
It doesn't matter who's behind it, but given that there's a 3x isolated margin , someone is playing the game.
There's no way for price to drop so fast.
Would like to slap that someone, that's for sure.
Well, somebody it is buying it. If major top20 sell like crazy, it is their own fault that there is a market bleed. If Sun is doing it, chapeau, he is smarter then us in here, again.
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If that happens we'll deserve it.
Why do you say that?
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We give the witnesses their power, and we should be doing so wisely. If we're just empowering witnesses who sell everything not bolted down, immediately, then we deserve to lose the chain. Again.
It is like giving the power of a country to a dictator.
Justin Sun has been involved on a lot of issues about crypto
This seems like some next level conspiracy thriller, if it is actually like you say please write a script! I would love to shoot that as a movie. And if it is true team loefinance has to double the efforts to move on its own chain. Soon™ won't do it
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Hive FUD?
Owwwww really? Do you think someone like Justin sun is after destroying HIVE while running the risks of loosing lots and lots of his own money? I tell you, its Elon Musk doing this. He wants all possible good crypto projects to trend to zero, leaving DOGE only for many crypto traders and investors to find their home.
Though I do respect your opinions (seen a few of the LEO AMA's), I'm against creating FUD based on nothing, ie no proof at all, not even circumstantial evidence. Sorry, on this one I can't have your back :)
Great detective work! This is fascinating and I'm glad you brought it to light. As someone trying to build a profile on this platform I'm invested in Hive's progress. I guess I've been naive in thinking market forces are purely behind Hive's price movements, when the truth is it's not yet large enough to be resilient to people's efforts to manipulate it to their own advantage.
There is no evidence for any of this.
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Looks like you at least got people talking about it like you were hoping! :)
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Interesting!
I wonder how close to reality this is. I'm not saying it's not true but it's speculation and we cannot really be sure of it.
One thing we are sure of is that are always the koreans buying from upbit! (Maybe it's Justin, who knows)
This is why i'd probably only buy something like bbd coin
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So, how do we prevent this from happening again and again?
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How do we prevent Hive from mooning and getting a bunch of free money?
It's not like he can buy 80M Hive on the free market.
The Steemit Inc stash was the problem.
We already fixed it.
It's a relief. Thanks for the reply.
Maybe. 35 million has changed hands in the last 3 days on binance.
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If I sell 1000 Hive at 60 cents and then buy back 1000 Hive at 50 cents, 2000 Hive has "changed hands".
Volume is not an accurate representation of value transfer.
Bots are constantly washing money back and forth.
But you already knew that.
A small "CZ loan" with customer funds.
jk
Nice post.
This post has your Toe Fungus article beat by a mile. Thank you for the late morning laugh. And I thought that Trumpman was the funniest guy on Leo Finance! You are a contender for the crown.
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Very interesting take on the whole situation, who knows what he could truly be up to but what you say could be very plausible indeed
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I doubt that would be the case. He's too stupid to do it and even if he buys that massively into HIVE how much does he need to take control and what can he do with that control?...
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Well, here you can see that justin's revenge against hive would be complete.
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I have to say, some how I knew what you would write about before reading the post. Justin does not have enough weight to have a country targeting him.
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Hmm, quite interesting. I was strongly surprised to see the price rise very quickly overnight.
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Hive basically shrugged off the entire blood bath which was very strange it basically did nothing. Now its pumping really strange. You might be on to something he has the money that is for sure, we just need to find a way to make sure he cant do it.
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It's mathematically impossible to stop.
Integrity and ethics, 'not code is law', is required.....yeah, right - that's gonna happen! lol
Can somebody take a joke
with a grain of salt?
What if Elon Musk says go buy Hive.
I think we are all in trouble.
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Don't worry, if Justin Sun or somebody else takes over Hive there's always LEO or POB.
Oh, hang on......
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Pump and dump will certainly occur again within the coming weeks. We can encourage Hivee to keep powering up to ensure that the community benefit in the long term.
Peace
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The chart above Is only for the day. I observed the same last day as well. It happens just before the market close candles. 5AM (GMT+5) here. I observed the same thing yesterday and today when woke up. I didn't tried to look into the matter but I had thought someone is just trying to get higher market closes at the end of day for hive in order it to push higher later or something like that.
It may be koreans, as Upbit is having around 10x more volume than Binance usdt pair. Whoever it is, we will see. & I don't think SUN is up for another fight to overtake HIVE as we can always fork and transfer the network. It can just make us a bit slow but we are going & building.
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yeah its been happening late sunday night early monday morning for weeks now. Its defo the Koreans maybe they just enjoy the fun.
Personally, I don't think hive survives another community fork
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PoF (Proof of Fail?) Poof!
I hope this is not the case.
Chain hopping gets me dizzy.
The divisions can't afford more..
...divisions...
!popcorn
popcorn!
Hopefully someone is powering up a ton of HIVE so they can stomp out HiveWatchers and the other on-chain authoritarians.... 👀
lol what is this
FUD, FOMO, Coincidence that HF25 is scheduled for the same time. Perhaps it is someone that thinks Hive will rise after the fork, perhaps like 99% of all the other crypto it is just speculation, or perhaps it was someone that bought the wrong Hive and then resold it after learning their mistake.
30 days after HF 25 we will see how the witness list stands, it may change it may not.
Yes I agree. I have been noticing these occasional massive spikes and crashes in Hive value, which look like whales manipulating. And China comes to mind and particularly the Sun factor. He definitely would want Hive to stay suppressed below Steem value and will be anti-Hive. And since we are such a small market cap, Hive is easy to manipulate and either score some profits or perhaps something even more nefarious, as you suggest.
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Probably he’s too busy with aave/bsc farming to care about other projects