From 20 to 6 thousand dollars: the collapse of Bitcoin prices is associated with the manipulation in the market
Source:
Bitcoin Price falls from 17 December 2017. In just almost half a year, the rate decreased with a maximum value of 19 900 dollars to an annual minimum 5 980 dollars. During the fall we saw two correctional wave growth, but they both failed to gain a foothold above $ 10,000. The reason is manipulation in the market, according to .
thethe Fall of Bitcoin is to blame whales
Traders put forward the theory that the sudden collapse of the course the main cryptocurrency is associated with the opening of futures on the Chicago Mercantile exchange (CME). Through the stock market big players manipulate the market by buying and selling the crypt in the right ratio.
Bitcoin reached its peak on 17 December 2017, on this day the CME started trading futures for cash. Obviously, the smart money bought the crypt to this moment to the day of the opening move sharply in a bear market.
Analysts also mentioned the decline in sales of crypts after each wave of a powerful selloff. In their view, a bear trend begins to wane, as large players is less cryptocurrency for sale.
Decrease not only the volume, but the rate of decline in prices. Every new drain is becoming weaker. It also confirms the technical indicator RSI is showing weakness among the bears. Can conclude, that the bearish trend fizzles.
It is possible that manipulations in the market of cryptocurrencies occurs for a long time. However, even if the price of Bitcoin is influenced by the big players through CME, their actions are completely legal. In the long term, it is unclear how you will prevent whales in the future.
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