How do you go from "at intervals below the lowest sell price" to "buy price is locked in at new higher price"?
It sounds like shorting yourself? So how does that end up spiking the price?
You are viewing a single comment's thread from:
How do you go from "at intervals below the lowest sell price" to "buy price is locked in at new higher price"?
It sounds like shorting yourself? So how does that end up spiking the price?
The price goes up at the initial dump of $1,000 to $100,000 into the market (like a reverse coin dump), so the Sell Prices are all knocked way up to 2x or 3x or higher in value. Then they wait a few minutes which allows a few people to start filling in that gap, then Sell, even past the people filling in the gap. This lowers the price but not permanently, it just lowers it long enough to freak everyone out and bring them to the market to see what is happening. Then buy again, just after a few minutes, launching the price way back up, because there won't be many new Sell orders to buy through yet, but at least you can get a few coins bought back at a decent price. Then when you buy all those coins, knocking the price up even higher than the initial 2x or 3x in value. Then you set the price with a Buy wall, and set a Sell wall at different intervals. Not way lower than the new way high price, but just enough to beat all the other sell orders and set up a little sell wall.
Then the market is stable at the new high price. Watch, I have done this before myself when Bitcoin was $1,000 each and I had tons of Altcoins to see if they would go up in Value. I would go to Altcoin markets and do this all the time, and all it takes is a few thousand dollars.
Thank you @marsresident. I must have read it wrong when he is saying the it was "knocking the price down" and "selling at a loss". The two explanations sound conflicting, but you're explanation makes much more sense to me. Thanks!