Free Fall

in cryptocurrency •  6 years ago 

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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.

@ricko66

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BCH hard fork is only one part of the picture - as some tool of money war between countries. have to see also other things in bigger picture, like ASEAN in SIngapore and at the same time Fintech meeting there, people from IMF were talking about Crypto made by central banks. economic war between China and US. many countries make their own national crypto, try to avoid dollar and bonds. also all stock markets crash around the world. some big bankers not long ago warned about many events to happen soon and even suggested to almost do war with China.
situation is serious - crypto market is only small part of that. hopefully no big war will happen. but bearish market is feared to continue for a long time. and also change from old global financial system to a new one - where will be no more cash money, everything digital. so that they can control all the money and tax every transaction, even small - like buy some food or fruits or drink on the road...

Hopefully, war with China will not happen, it too close from my home. Sure there is many things that happening and crypto today is a small thing but all banksters know very well that it is the next big thing in the economy. All the news that coming out from institutions at the moment are very oriented crypto. For the replacement of the US dollar, it is a very good thing and it must happen on a global scale, but for sure US sharks from the FED will not let it go without a fight. After the crash of three days ago it is very possible that the market will fall a lot more and can go on for quite some time, but a bullish move is also possible soon.

Good advice! Thanks a lot.

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