Yes, I agree. In my opinion, this kind of dump could be explained by one of the follows
1) failed manipulation
2) desperate for cash in urgent (doubt it due to the withdraw problem there)
3) insider trading (I don't know which news can dramatically crash BTC market now)
4) stolen BTCs (I heard Gox needs identification?)
5) arbitrage (are there some big buys that time in other exchanges?)
6) ... just crazy.
Any more explanations?
7) Someone who missed a chance to sell at a profit after the April correction, and thinks it is happening again and panics.
8 ) Manipulation that didn't fail, causes doubt about the market, follows up with more dumps, waits for full on panic.
1-Yepppp
2-Desperate for 5MM? Happens to be at the time when most banks around the world are closed? Extremely unlikely
3-Possibility, but it's already been few hours after the market sell and no news, so he could've at least spread it over few hours. But a day or two should show for sure
4-Yeah, but again why dump all at once like that at odd hours coincidence?
5-No way to move such amount across exchanges, and highly doubtful that he had the same amount at other exchanges to cover. And arb been there for some time no reason to do a market sell
6-always an option, but how many crazy multi millionaires do you know who throw money out like that
7-Timing just makes this too unlikely.
8-True, but if i tried to pull this off i'd be betting on instantaneous panic, plus that wall
BTC1.5k wall was a
BTC1.7k wall at $533 and got moved back once people started to go at it. Smells like intimidation tactic.
9-FBI cashing in on those confiscated SR coins? 10k down 40k to go?
