Hi, Dear Steemian Friends
The crypto market has touched its lowest yesterday during a massive sell-off. A very sudden sell-off likely to be the result of electronic transactions. Today, I heard many people saying that the fall is the result of the Bitcoin cash hard fork which is very unlikely. Even with all the dramas and battles around the hard fork, which is nearly a daily problem inside the Bitcoin Cash community. To my knowledge, it is more likely a bunch of very big accounts holding mostly BTC who have set their stop losses parameters at the same price target. Those accounts are very likely owned by big institutions and banks. If we look at the news lately it is much more in the interests of those big institutions to manipulate the market once again. It seems that they want to see BTC around the 4000$ and each drop manipulation they've in the recent past, they are coming closer from it at each drop. They want to see BTC at around 4000$ price to buy massively and try to get closer to get the lead in BTC holding. It also seems that they have sped up their manipulations with a drop every week or two because of many news that may bring some big investments in cryptocurrency. Even some of these institutions are the one concerned by the news, they keep trying to get their holdings in BTC a bigger bag. It is not really a surprise as the banks and other financial institutions are doing these kinds of manipulation against the wealth of the people since the beginning of the banking system. As we come closer to a few events that may change the bear period to a bull period, they will try to bring everything down even more, and who knows we may see soon a Bitcoin at 4000$ as they have the money to do it. The only thing that can help to maintain a certain price is the low supply, if everyone keeps holding his coins there will be less availability. So the best is to hold tight and forget a little about the market.
