What is causing the market to pump collectively like it is now? I’ve been watching the market dip all week...

What is causing the market to pump collectively like it is now? I’ve been watching the market dip all week, now this pump. Do humans really sit down in front of their computers and collectively buy crypto all on the same day? Humor me /biz

Some of it is that, yes, but a lot of it is big players dollar cost averaging around the same time.

also people selling their alts for BTC will pump it too

This is what we here on Veeky Forums do.

everyone was pumping BNTY last couple days straight - they just dumped, and all other altcoins starting to rise. btny was only altcoin i was tracking that was constantly rising while all others were down, now its the opposite.

just a factor i suppose.

bots

But why today? Payday Friday, perhaps. That makes sense even internationally.

Just trying to make sense of this Wild West financial revolution we find ourselves in. There’s a lot to take in, it’s overwhelming!

Wow its almost like people are buying at a strong support level for btc.

So you're telling me the market went down over a weekend and a major holiday?

Tell me more

Is my new fag showing? Lulz

There is a cascade effect, both for fast rise and fast fall. A few people happen to place large orders around the same time, momentum traders hop on because that's their cue to get in, more people fomo in and so on. For drops it's a similar deal, few big profit taking orders, traders see and dump their holdings as well so their don't have to bag hold the dip, this is often enough to trip a bunch of stop loss orders which then leads to panic sell offs.

I see cryptocurrency as a way for the people to govern themselves. It’s the most pure form of free market there is. Without the oppression of a centralized monetary policy the free market will decide who survives. Hence the financial revolution. The next few years will be interesting to say the least.

Both of these happen naturally in open market. Artificial pump/dump done intentionally is a different kind of thing, although that can start the cascade as well.

Market manipulation is a part of the free market. But does that call for regulation? If we let the free market run amok, won’t we just end up with Oligarchies as we do now?

I honestly think a lot of it has to do with KuCoin.
...aaaaand my referral link is 1du7Q if anyone wants to use it
I'm not a shill! I actually believe in KuCoin, esp. KCS.

I also think that people are becoming more interested in altcoins as Bitcoin wavers.

It's tether printing another 50 million virtual USDT out of thin air and putting it towards BTC that has the market hyped again. BTC gonna pump again using that tether soon enough. If you wanna do yourself a favour, don't buy any USDT. It's a pretty massive scam DESU.

Maybe the people who call themselves ‘whales’ are actually just slightly larger guppies. The real whales own 50% of the worlds wealth and are a handful of men.

That was suspect. Literally crypto quantitative easing. Which is why I asked who the fuck is pumping this market on a fine Thursday night/Friday morning?

market is a living being it does it's own thing

Pay day.

Mix of whales manipulating the market to produce positive emotions for the rest of idiots in the market

Then they dump on their bitch asses and reset

pic related.

LOL interesting takes. I'm gonna have to say that is the beauty of the free market. The lack of regulation allows Darwinism to take effect, and in the end benefits the human race as a whole.there will be no bail outs in crypto.