Hi folks! It is so obvious that the whales are manipulating the Bitcoin price since the CME futures started trading in December 2017.
Now, the Bitcoin market capitalization is only about $116 billion, which is almost nothing compared to NASDAQ, which has market capitalization of more than $7 trillion. So the money in bitcoin is only about 1.6% of the money in NASDAQ. That is why the whales can easily manipulate the bitcoin price.
Looking at the Bitcoin historical price chart someone will say that bitcoin is going through its natural price correction as the price of $20,000 was unrealistic.
No folks, this is not a chart of a natural correction.
The Bitcoin price since CME opened on Dec-17–2017 has been manipulated.
The Bitcoin price is being heavily manufactured.
But, wait till the real players with even bigger money join the table.
Look at the bitcoin price dump patterns in chart above.
It is obviously that the bitcoin price is being artificially suppressed (manufactured) since bitcoin bottomed in February this year.
Anytime price tries to recover, a dump appears from nowhere, and all these are high volume dumps and most of them have a price lower than the previous dump price.
Will this price manipulation stop any soon?
No, it will only become worse if you continue to sell bitcoins to the whales at this low price levels.