I was afraid the inevitable would come to crypto as it has been in the forex market of years gone by. Finally and sadly market manipulation is here to stay. I believe it'll drop just as fast it went up and a bottom hasn't come yet.
This was a flash pump by Bitfinex who used their own tethers to buy $100 m of Bitcoin in 30 min. Why? The day before, they saw a flood a new investors opened new account registrations in Bittrex. This indicates a bullish sentiment with new blood new money coming into the crypto space. Many of the new pend up investors who opened accounts in Bittrex 2 days ago bought HempCoin who booked the biggest daily gain of 40% in Bittrex exchange. Chinese like to exploit North America market with HempCoin. Israel announced they may legalise Cannabis and this coincides with the pump in BTC. Is God revealing the money in crypto is in Cannabis crypto...HempCoin?
HASHWAREHUB just over 24 hours ago made a video about the shorts and showed how the amount invested in shorting the market is at an all time high and rising exponentially. It was looking like those shorts would cause huge losses and the only way that those people could hedge against such huge losses was to buy. I like this as a reason for the sudden pump. The great thing is that the more people buy to hedge against the shorts the more likely that the shorts will fail and the more the pressure to buy.
JPM, Rothchilds, Zoro... they might be old but the thing that really bothers me is that these guys went on tv and announced that they would be investing in crypto. why? why would they say something like this unless they were alrdy in. this recent breather that btc and alts have had feels like bullshit. *waits for next dip* i dont trust this...
Come. on.. pure speculation.. they tested the market see if i can rally .. obviously too early..
Only explanation would be an imminent crash in price. taking it down to 6k. One speculator cannot move the markets medium term.. This move was disrespectful to Mr. Market.. so it will kick back really hard.. That's my 2 cents.. However the news is that we will see the bottom soon.. no matter the resistance level. if it does not go down a lot then the bull move has begun. but will go down first..
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