Bitcoin lost $800 in minutes yesterday 27 July in a sharp move that broke the $10k support level.
The price dropped from $10,110 to $9,419 without any known reason leaving analysts are commentators without words while trying to understand what is going on the crypto market.
Among with the other theories about the sudden drop is that of the “invisible hand” that makes these sudden moves up and down.
“Invisible hand” has refilled Bitcoin again. “They” are not using the ammunition yet. As of now, “They” have just stopped buying
I am a “conspiracy theorist”
I believe men & women of wealth & power conspire
If you don’t think so, then you are what is called idiot@DavidBCollum pic.twitter.com/OQlxZnEswO
— Bitcoin, Gold, Silver & Geopolitics (@Super_Crypto) July 27, 2019
Manipulation is a common thing in thing in the financial markets where big players play the cat and mouse game with retail users. Even in the biggest markets like gold and other precious metals big players have been caught doing market manipulation. But crypto being a small and unregulated market is the heaven for market manipulators.
July has not been a good month for bitcoin which is down nearly 16% this month, however bitcoin outperformed altcoins. This month Ethereum dropped 24 %, Litecoin dropped 34% and Ripple dropped by 32%.
Another interesting thing is that bitcoin is hovering at the levels it was when Libra whitepaper was released while altcoins crashed.
Charts source zerohedge.com
What are your thoughts about those sudden moves that happen in minutes without any obvious factors.
Feel free to post your thoughts in the comments below.
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