That is a very good point. I hadn’t really considered that, but it is still possible. I definitely am drawn to conspiracy theories. If you stand to lose far more than $4 million by people moving their money into crypto currencies then it could be considered a calculated gamble.
The crypto market had been growing by billions of dollars a day up until the last few days. Probably a large part of that is coming out of the same big banks.
I know it is a bit of a stretch, and I did mention that. If someone did plan on buying out the entire order book in order to win back the ETH they spent for a fraction of the cost then I think they knew exactly what they were doing.
RE: The mystery of the $13 ETH - My theory about what happened on Coinbase/GDAX today