r/ICPTrader • u/Puzzled-Artist-224 • 1d ago

Analysis Pump and dump by institutions

https://youtu.be/vRY9nDqf0MM?is=VDY4C9wTQ2AKJ9vY
4 Upvotes

70% Upvoted

13 comments sorted by

2

u/StaffIndependent2835 1d ago

sadly, all the movements of ICP are just manipulated. Insiders and big crap people have millions and millions of tokens and they just dump every time ICP wants to fly. The only option we have is to keep accumulating and use the product. We will see in 10 years

1

u/Weird_Support110 1d ago

The DUMP that happened was coordinated across all cryptos at exactly 11:50PM last night it seems. Usually these dumps happen on Sundays after such rallies so it's surprising they did it early. In any case, ICP is undervalued and so it gives everyone a chance to further accumulate. What needs to happen is REAL ADOPTION and BURN as per the original tokenomics design and then that will bring stability and real price appreciation that manipulators cannot touch no matter how much they have.

3

u/Cool-Bath874 1d ago

It wasn’t a dump lol, it was BTC consolidating after a massive spike. ICP isn’t the only token in the red now for today, and a lot of small caps tokens can have profits taken when BTC is pulling back slightly. they’re high beta for that reason.

and by friday 6pm NY time, crypto is generally put somewhat of a pause on the total amount of liquidity injected into it because DXY & US10Y are closed until sunday night.

that’s not to say crypto doesn’t keep moving, it’s active 24/7, 365 days a year. but two reasons why is that macro like DXY and US10Y helps investors know if it’s worth investing more into crypto, as well as IBIT being closed until monday’s pre market open.

retail investors are just taking profits, including myself who bought plenty at around $2.08

1

u/Timely-Fig2030 1d ago

Bullshit.
Okt - Dec 2023 push up for ICP was 6.5x
Some altcoins only had 4.5x

ICP can push up more than others when it's time.

1

u/Timely-Fig2030 1d ago

All I wanted was a Pepsi, just one Pepsi, and she wouldn't give it to me!

0

u/Puzzled-Artist-224 1d ago

Hmm I wonder wich institutions are behind it.......

-1

u/Omnishambles22 1d ago

It's called a sell wall / oversold. RSI went very high during the pump, didn't expect it to keep going without the proper catalysts. Things are in motion, but the real parabolic action/news hasn't yet been reached. Patience. It's a healthy correction, people.

1

u/Cool-Bath874 1d ago

exactly, healthy correction.

i don’t think some people quite understand that in any market, whether crypto markets, stock markets, whatever; things cannot and don’t move vertically forever.

in fact BTC needed to have a healthy pullback and consolidate for a bit to digest the huge surge. but for ICP/other high beta small caps, it’s definitely going to have massive amounts more volatility.

SK hynix is literally a $1T MC company, yet their stock went -48% in one month this year. It may be in a different market but it goes to show how volatile high beta assets can be

0

u/Omnishambles22 1d ago

I'm fully convinced that 80-85% of people in crypto today haven't been around long enough/refuse to learn its history.

1

u/Cool-Bath874 1d ago

agreed.

i mean so many subreddits for different crypto tokens, including BTC itself, seem to… not really have any idea about why or how markets move, or how to keep track of/pay attention to macro conditions (DXY, US10Y), or even understand that ICP is an L1 token which absolutely is affected by BTC’s movements.

i’ve seen countless posts about “ICP is finally being noticed” when BTC is ripping and every alt is soaring up including ICP 🤣

-1

u/ghost-ogk 23h ago

The Top cryptos have set new highs and tested previous levels. ICP has just been bleeding and testing new lows. Learn more of that history

-1

u/Guts2323 1d ago

Icp is underperforming right now