A unknown trader nickname "Spoofy" was observed manipulating the Bitcoin markets.
The nickname "spoofy" comes from the term spoofing which means
you place a high volume order below or above the current price and
right before the actual price nears the order, is gets canceled.
With this method, traders try to manipulate the markets by tricking
the investors into thinking a big company is or is not interested anymore
in a coin.
Spoofing is illegal on the Gold and Silver- Markets since years,
but still is tolerated in the crypto markets.
Spoofing actually is widely common in the crypto world, but it is
very unusual, that a single account has such high financial resources.
"Spoofy" trades with volumes up to 60 million dollars on a regular basis on bitfinex.
So be aware if you observe high volume buy or sell orders in order to make a financial decision,
it could be nothing more than a bluff.
