Could Poloniex be trying to control SBD price?
I am sure most of you by now have realised that Poloniex has released all the steem funds to it's customers after holding for almost a week.
Poloniex, one of the largest crypto exchanges with a lot of influence, stopped releasing all steem funds around the time when bitcoin started to fall. Everybody knows that when Bitcoin falls, the market as a whole takes a dip and we saw that most of this week with the sea of red plaguing crypto as a whole. This is where I get suspicious, so it's foil hat time...
Is it possible that Poloniex intentionally froze all steem related assets at the time where the most people wanted to sell in order to flood the market when the funds were released in order to drive the price down? Is it possible they did this intentionally in order to buy up a bunch of cheap Steem dollars and Steem with the knowledge that it would almost certainly go back up when the market recovers?
I would say yes it is possible, the timing was perfect! While it is perfectly possible that it was coincidental, it just seems too perfect. If Poloniex purchased a couple hundred thousand Steem just after the dump, imagine what it would be worth in 6 months time or a year!
I am not suggesting that I know anything for sure, and this post is clearly slightly tongue in cheek, but it does make you wonder, if it was intentional then it's a move that could make Poloniex millions and millions of dollars when Steem hits 10 dollars.
Just food for thought, let me know what you think. Any opinions are welcome.
Viking