Re:Bitcoin Cash deals frozen as insider trading is probed
by makomk on Wednesday December 20, 2017 @10:34AM
(#15970397)
Coinbase said they would add BCH withdrawals to their exchange (for funds that were on there during the split) sometime before the new year months ago, and then consider whether to add trading at some unspecified point in the future after that. There is a very big difference between the effects of dumping a bunch of formerly-illiquid funds on the market and opening up a new market to buy something.
Re:Bitcoin Cash deals frozen as insider trading is probed
by avenoir on Wednesday December 20, 2017 @10:49AM
(#15970545)
Bitcoin price started to tank on December 18th @ 00:00 UTC while BCH started an up-climb at right about the same time. This could be explained by the anticipation of the announcement from Coinbase. But then shortly after Coinbase stopped all trades for BCH, I saw this on Twitter [1]. I don't know, but this last bit is definitely looking very odd.
Re:Bitcoin Cash deals frozen as insider trading is probed
by thisisit on Wednesday December 20, 2017 @12:03PM
(#15971369)
Here's a question - What was the end game of the guys during the accumulation phase? To pump the price and sell, right? So we see the pump in action. Then there should be the sell/dump. What happened to that?
If I scroll to a week ago between 13th and 14th there is an identical pattern. There is accumulation and then a pump followed by sell: https://imgur.com/a/Hysfc
Is this also related to Coinbase?
Re:Bitcoin Cash deals frozen as insider trading is probed
by altocr on Wednesday December 20, 2017 @12:07PM
(#15971426)
I might be an insider but I bought BCH before the pump. The news was everywhere in the crypto space (telegram, tradingview, twitter) last week.
Ps: I don't trade, I'm a hodleur
Re:Bitcoin Cash deals frozen as insider trading is probed
by mancerayder on Wednesday December 20, 2017 @12:22PM
(#15971609)
What do you mean, you might be an insider?
Re:Bitcoin Cash deals frozen as insider trading is probed
by lawlessone on Wednesday December 20, 2017 @11:18AM
(#15970892)
There have been bitcoin forks before, i don't see why bcash is so special that coinbase felt the need to add it.
Re:Bitcoin Cash deals frozen as insider trading is probed
by jorisw on Wednesday December 20, 2017 @12:28PM
(#15971685)
As Bitcoin Cash proponents put it, it's not a fork, it's what Bitcoin would be been without the forks (SegWit and others) that are present day BTC.
I don't know if that makes it special, but it does mean it's something different from, say, Bitcoin Diamond or Bitcoin Gold.
Coinbase had said they would add BCH to their exchange before the end of the year months ago. And people had noted BCH appearing in their API a day or two ago, and then the trading pages were up for an hour or two before the official announcement, with some very large orders being placed in advance of trading going live, with the price already set at $1000 dollars higher than any other exchange was offering.
Add to this the fact that anyone who held BTC on Coinbase in August receiving BCH, plenty of people still holding BCH from the last time the price spiked, and the exceptionally deep pockets of certain people/groups who are supporting BCH.
You didn't need to be a Coinbase employee to know this was coming, and that it would, at least short term, have a significant effect on the price. Crypto traders live on big news and swings like this, and it was inevitable that it would be a big event.