10 Jun '13, 4am

Wow. The price just jumped from $95 to $110 in seconds. Somebody made a 15,000 BTC purchase. via @Red…

It is all about manipulating people. It is a well known fact that people react with greed and fear with all financial instruments. If the price drops rapidly, people get freaked out and will sell, "before they lose everything." If the price rises rapidly they use greed and want to buy before they are priced out. Just look at the recent boom and bust cycles with bitcoin. Everyone was displaying classic signs of greed and fear. In order to successfully profit from this strategy you need to have a large amount of capital in either cash or bitcoins. 1.5m might do it, but I think you need to have at least 10 million. Basically all you need to do is dump a large amount of bitcoins all at once on to the market. This will rapidly push down prices. As others see what is going on they will panic and sell, further depressing prices. The original seller knows the price which they stop...

Full article: http://www.reddit.com/r/Bitcoin/comments/1g0w4n/wow_the_p...

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