Whales or an organised Pump and Dump?I've recently come to the conclusion that there are Pump and Dump occurrences taking place in the market, whether it's organised or just one seller, I don't know. I've highlighted one such area where the price just shoots up and suddenly drops as soon as their limit is hit in what I believe is be a pump and dump strategy. As a result there is a lack of confidence in the market as to the legitimacy of price increases and people are now less inclined to buy, which is why the price has flat lined. This is probably not the first time this has happened. I'm still long so writing this is probably a bad idea but I just wanted to hear what other people have to say on the matter. I do however think it will go up in a week or so, depending on when the next announcement comes.
