"black swan" taking us lower.
The crash was actually somewhat due to me. The price of BTS on Poloniex is entirely controlled by 2 parties, one single bot and Cagara. I saw the bot dumping into buy walls while putting up sells lower than market rate to try and drive down price on purpose, then right after that, it or someone else removed 100+ BTC buy support so there was like 70 BTC buy support only. I instantly closed my long because I knew something was up and after I did, like 10 people got margin called and price imploded. Then I bought back in at 2200.
If I stayed in, price would have only gone to 2300-2400 probably, but I wasn't going to be the sole person trying to keep BTS up and lose money while everyone else tries to crash it on purpose. Anyone that wants to support BTS price, all you need to do is put some BTC in the margin trade account on Poloniex and put up a margin buy, even at some super low number that will never be filled to give the appearance of support. (i.e. 10btc in margin trade accounts gets you a 25btc buy at 1800 that will never be filled). This is why the Ethereum wall looks so huge, but nobody is doing it on BTS.
r0ach man I appreciate your activism and love reading your analysis on bts. But you might want to stick to that and not trading tips. It's not good for your credibility that you were hyping the short squeeze and also triggered the selloff. Not cool man. By the way I had no margin position at the time, so I'm back on the buy, so maybe I should be thanking you, actually.