Crypto Crash BTC was Manipulated.
I remember past weeks several times in different altcoins, there were huge market purchases, with 100's BTC's worth and more, it produced spikes and even started rally's.
The prices went too high too fast - creating a bubble.
Instead selling at the top, those same large quantities were sold after the action at market price, just before the first crash, when all action was over,, just at a time when it is calm and when there is low volume.
What effect do you think that produces ???
I can't imagine a trader who would do that here ???
I observed it again, in several altcoins when the dump was happening just before the second crash.
Its not China news, its not Chinese new year
But someone wants those prices down !!!!!!!!!!!!!!!!!Wall street's Futures are down - So BTC has to go down, (seems there is more Profit in futures when spending a little money pushing Btc down)
Just like those huge Gold and Silver market orders to sell, were dumped 1.5 week ago.
Crypto dumps looked just like that several times one after the other, and again, then came the crash, this was intentional.
Are we gone let us being manipulated,, Crypto market Up and Down dictated by Wall Street futures???
Bitcoin Futures, looks just like BTC chart.
We all know how the future BTC price will be. Let the crypto market do its thing and it will go up slowly but surely. Start manipulating and it will go down.
This brings my thoughts to a month ago when we had suddenly such movements in BTC, it seemed then that de crypto's were out of balance by something, I couldn't figure out what.
Now I understand that before they agreed to use Bitcoin futures, they had to do some tests in manipulation.
How can we sabotage this manipulation ?? Anybody here any ideas??
Very interesting comment. I have been mulling the same thing myself. The global economy is overdue a recession. In the last century recessions have happened as regular as clockwork every 8-10 years.
When the next recession hits it will make 1929 and 2008 look like a sunday school picnic. Global elites and their central banks have not solved any of the global economys problems just compunded them by adding over $60 trillion in debt while living standards for ordinary people across the world have fallen.
The next economic recession will pop the bond and stock market bubbles and shatter the derivatives market which is being used to control the crypto markets and gold/silver prices.
When big money tries to get out and seek a safe haven some of that will go into gold and silver but I believe some of it may well go into crypto in an effort to diversify risk.
Until then I think we just have to HODL and support each other. I hope that I am wrong and that some means can be found to bring down the derivateives market.
p.s. I have heard rumours that Ethereum will see derivatives next!