Bitcoin (BTC) toll may accept spiked throughout the global market on Dec. 12 due to the actions of a single bagholder — trying to win a $10,000 Dogecoin (DOGE) bet.

In an ongoing Twitter exchange, a Bitcoin whale known as Joe007 and Dogecoin supporter Samu publicly jostled for supremacy as it emerged Joe007 probable bought 800 BTC ($v.77 million) to defend the $7.2K level.

800 BTC to win five million DOGE

The latter is a prominent trader — and last month's leader — on cryptocurrency exchange Bitfinex, with monthly realized profits currently totaling about $2.7 one thousand thousand.

The two originally placed a bet on BTC/USD trading above $seven,100 at 1 p.m. UTC on December. 12. If that level remained, Samu would have had to send v million DOGE ($10,995) to an accost determined past Joe007.

If the reverse occurred, and Bitcoin traded below $7,100 at the time, Joe007 would have to transport v million DOGE to Samu directly.

In the event, Joe007 won, but not before a mysterious price effect suddenly saw Bitcoin break its down trajectory and briefly shoot higher — just before the bet borderline.

A nautical chart uploaded by Bitcoin trader Hsaka alleges the suspicious price behavior effectually the time the bet expired.

Bitcoin price index on Bitfinex as of Dec. 12

Bitcoin price index on Bitfinex as of Dec. 12. Source: Hsaka, Twitter

"Show's over guys, you can proceed with your dump now. Don't be afraid, stupid whales are done with their stupid whale games. Delight comport on," Joe007 tweeted on Th.

...Or 800 BTC for nothing?

The post suggests market manipulation did increase the likelihood of Samu losing. Co-ordinate to further letters, it appears Joe007 never received the 5 million DOGE, as Samu had sufficient cause to believe his opponent cheated.

"Joe007 made me the Apr Fool, but I did it later besides. I got revenge," Samu stated after the deadline.

At press time, the address Joe007 stated was the destination for the payout independent just 10,383 DOGE ($22.83).

The curious debacle nonetheless piqued the attention of social media users, who were immediately curious as to why a unmarried investor would risk a huge amount of money to win a comparatively insignificant bet.

Many conversely decided the 800 BTC move was not down to Joe007 at all.

"All about risk tho, did he actually think that wall would go filled? no, was information technology really him? probably non," fellow trader Sakura responded. Popular trader Squeeze described Samu'due south actions as "shameless."

Subsequently, Samu offered to pay Joe007 a grand full of 6 DOGE ($0.013).

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