On 4Chan they want to have foreseen the Bitcoin Flash Crash. But it could also have been just a coincidence.
There are moments when the strings of the world seem to come together on imageboards like 4Chan. But often the theories spread there (so as not to use the obvious term conspiracy myths) do not stand up to closer examination. It’s something like this with one post of the 4Chan user with the ID “ti0XB + Fa”, who is currently making waves in Bitcoin circles.
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Said post on Tuesday, May 18, speaks of a “large-scale announcement by the Chinese Communist Party […] which is designed to get the Bitcoin rate as low as possible ”.
Hey guys, insiders here. […] there will be another announcement from China soon. The picture is halfway appropriate. I can’t tell you which company I work for, but the announcement is HUGE. The purpose of today’s press release along with all of the FUD postings is to get BTC as low as possible before 7 a.m. UCT.
First there will be a coordinated sell-off to drop prices below a certain threshold and liquidate a certain stakeholder (can’t directly tell who he is but he bought a lot on the dip he was partially responsible for) .
Once he’s liquidated, the plan is to buy up all of the reserves and essentially make him bankrupt.
If you want to get rich, have a coffee and wait for the big dip. Once it happens, things are going to turn green really fast (we forecast 70k).
According to the 4Chan user, the flash crash is the result of the Chinese. But how credible is the message? First of all, 4Chan is well known as a platform for crude conspiracy theories. Movements like QAnon or Pizzagate have their origins in 4Chan. Of course, it is noticeable that the events that user “ti0XB + Fa” was able to predict so accurately actually occurred. After all, the Bitcoin Flash crash to $ 30,000 caught even long-established market observers off guard.
Bitcoin market too big to be tampered with
But it is more than unlikely that the Chinese government really acted as the mastermind behind the scenes. After all, with a market capitalization of $ 750 billion, the Bitcoin market is still big enough. Individual players such as whales may be able to exploit certain market situations to their advantage with clever leverage positions; Crash the market by double-digit percentages within minutes, but even the richest Bitcoin owners cannot. In addition, it is completely unclear which company the KPD has become unpopular with the Post is supposed to be about. 4Chan is anonymous. Why does the use not make its statements more concrete and thus falsifiable?
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The only thing left is a contemporary document that was able to predict the historical Bitcoin crash. In the end, it could just have been a coincidence.
On 4Chan, wild theories about possible price crashes and moonshots are discussed almost daily. Of course, only those make it to the surface of serious reporting who, for once, were right.
How wrong you can be with 4Chan is shown by the following screenshot:
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