I vaguely remember someone using contracts to artificially inflate the price of Bitcoin in 2018. At that time, the price of BTC was in the $6,000-$8,000 range, so that 50,000 BTC position would have been worth $300-400 million… Keep in mind that market liquidity back then was completely different from today. Controlling the market with hundreds of millions of dollars in liquidity during a bear market is indeed possible. In short, it's something even altcoins have already mastered: pump and dump… What I'm curious about is why, after all these years, they're suddenly demanding redress now? #OKX Back when I was researching the 128-day moving average (MA128), the 2018 bear market only saw this one breakout, which genuinely gave the illusion that the bear market was ending, so many trend-reversal traders jumped in… And what happened? The perpetrators are back eight years later… "We pumped the price! Because of this despicable OKX, we didn't make a single penny and even lost money! We have to take legal action!" It's quite disheartening to think about…

Oh, by the way, this guy was rumored to be called "Brother 50,000" online back then... So, considering the information we've gathered so far, it does indeed match up! At the time, the "50,000 Brother/Sister" not only openly pumped the price, but also called on everyone to open long positions and pump the price together on Tieba or Weibo (I can't remember exactly). Many veterans in the crypto know that this was a very famous "shill"... Unfortunately, there weren't many people in the crypto at the time. If everyone had rushed in to buy, Sister 50,000 could have easily closed her position and taken a profit... Later, OKX blocked her account, causing BTC to plummet, and all the complaints were directed at OKEX (its former name). But I think this person's actions are still quite obvious today. If you see this kind of position now, you would just say that the whale is awesome and wait to see the fireworks. But things were really different back then; everyone actually went for it… I bought more BTC after this happened, thinking I'd hit the real bottom at $6,000, little did I know there would be a fork or something that would halve the price from the bottom... Sigh 😑