There has been many rumours and hot gossips in the crypto space regarding the presence of a Cartel in cryptospace and is responsible for the price suppression in the crypto market. This news become viral after an article posted by a person regarding the involvement of cartel group in crypto space. A cartel is a group of people who work together in order to suppress the price of the market in order to manipulate the price and keep control of the majority of wealth in the market .A Cartels are created when a few large corporate,institutions,banks,media etc. decide to co-operate with respect to aspects of their market. Once formed, cartels can fix prices for members, so that competition on price is avoided.
According to that article since the entry of cartel in the crypto space the price of Bitcoin and other cryptocurrencies dropped significantly.The guy was also correlating the price suppression after the CME opened the futures market for the cartel to enter the crypto space. He showed some other evidences of the presence of cartel group in stock market and oil industry.The reason why they are trying to suppress the price Bitcoin and other cryptocurrencies is to gain control of the market and manipulate the price of the market according to them so that they would not loose their financial dominance in the world.
According to that article since the presence of cartel in the crypto space the Bitcoin has seen a correction of around 75%since it's all time high in January.The guy also predicted that the price of bitcoin and other cryptocurrencies can see a major correction of around** 95%** since it's all time high so that the cartel group can accumilate a large stake of Bitcoin and other cryptocurrencies .He pridicted that the price of Bitcoin could hit a new low of $1k and then can explode rapidly towards a new all time high of $50k.
But according to different trade analysis and many crypto experts the price of would not go to 1k but we can see a final correction of Bitcoin near $6k and lower $5000's. several predictions are also made to see a $4k Bitcoin but there is a very less possibility of bitcoin reaching that low since there are many positive news that are coming on daily basis and there is a strong possibility of cryptocurrencies could possibly be regulated by central institutions and governments which can bring the exposure of cryptocurrencies to the masses around the world. Thus the only strategy you need to follow is to hold on to your cryptocurrencies and don't sell them at dips and wait for the market to recover.
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