Very vocal Bitcoin Core (BTC) Supremacist, Tone Vays, did not buy the dip. Vays’ lone claim to modest ecosystem fame involves urging all within earshot to never use BTC, demanding they hodl come what may, insisting followers purchase more of the falling asset even if it collapses beyond reason, has shorted the coin. Is reality beginning to rear its unforgiving head within the BTC camp? Was there a conspiracy to thwart Vays’ move?
Tone Vays Shorts Bitcoin Core (BTC)
Cryptocurrency trading is tricky. There are too many variables to take into account. Some of those variables cannot be foreseen, not even with a crystal ball or killing chickens to read their heads. Despite this, some still try to guess the market’s direction.
Veteran traders such as Tone Vays consistently rely on market technical analysis to divine prices. Even Vays, however, could not predict the conspiracy that almost took a great many traders down, with some in the community believing the Rothschild family was somehow involved. For the bitcoin newcomer, the name Tone Vays doesn’t ring any bells whatsoever. Enthusiasts who’ve lived through the golden era of the last few years know Tone well.
He has a reputation for being knowledgeable about trading, and seemed to know a lot back when the market was smaller and simpler. His professional background might explain why. He was a Wall Street suit who traded derivatives for Bear Stearns, and claims to have been at JP Morgan circa 2008.
Shortl? Avoid the Dip?
He is also a fierce critic of Bitcoin Cash (BCH), describing it as a “scam,” and anyone in association a “scammer.” He openly advocates enthusiasts hold and buy only BTC to the exclusion of all other cryptos, and especially warns about BCH. His rhetoric, it appears, doesn’t seem to follow his money, at least in this case, and his short was itself almost shorted in an instant.
Vays did, however, at one point reveal he would be trading BTC. He confirmed his prior announcement to that effect on Twitter, and further declared he was shorting Bitcoin with 5x leverage to $5k. At least for the moment, Vays’ trading behavior assumes bitcoin will continue its path downward in price.
Several trading commentators suggest Tone Vays was not able to see a great conspiracy to take trades such as his down. Supposedly, Tether, Bitfinex, and even the famous Rothschild family were involved as bitcoin started to climb in price near $7,500 levels recently. It could have rekt Tone’s short. But luckily Tone’s trade was not through Bitfinex. where the conspiracy was supposedly not effective enough. He chose BitMEX instead.
As ridiculous as it may sound, there could be some truth in the theory. Tone might have simply found himself in a battle between Rothschild banking interests, crypto exchange Bitfinex, and stablecoin Tether. It turns out an insider told Coinspeaker, a cryptocurrency news outlet, that the incident was, in fact, a planned operation with lots of trading bots involved in the attack.
Trading bot accounts apparently were waiting for such an opportunity, and had not engaged in suspicious behavior until the shorting incident. All of these accounts were posing as normal traders until suddenly funded by a whale account, the theory claims. They began posting sell orders of Tether, creating the panic that spread to all of the crypto world.
The whale account that funded this attack is related to a cryptocurrency named IMMO, a project that seeks to create a cryptocurrency reserve and a stablecoin to dethrone Tether. IMMO has been tied to one of the most mysterious and wealthiest banking families in the world, the Rothschilds. Even Vitalik Buterin alluded to them. Vays might have just been in the wrong place at the wrong time. So much for hodl. ShortL?