Bitcoin Forum

Cartels are dumping Bitcoin at a price lower than last dip to make huge money from "Bitcoin Futures".

They may be losing 4-5k per Bitcoin but making 10-20k profit from "Bitcoin Futures". This must be stopped at any cost otherwise crypto-currency market will die.



This is announcement from OKEx: “Dear valued customers, At 5:00–6:30 on Mar 30, 2018 (Hong Kong Time), a number of users performed unusual transactions to manipulate the price of BTC quarterly futures contract, making it deviate greatly from the BTC index. Based on our team’s investigation, the user closed a huge amount of positions at market price without considering the cost, causing it to drop to an unusually low level. We will disclose the transactions details in further notice”

Source: https://medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a

Bitcoin prices have been slumping hard since a few days and touched a 50 day low today by breaking below $7000 or less than 4.75 lacs INR in India considering a little premium we have here. There are many theories for this drop around the world wide web and we thought we’d share some with you. Bitcoin and other cryptocurrencies have remained in the bearish trend for the entire 2018.

It’s highly unlikely. It’s not possible for cartel to make this much huge manipulation or impact on the market. Anyway, true or not, it’s better to hold the coins or to buy some. Good Luck.         

When the Bitcoin futures investments were initially announced i actually
thought that this would be the case. The investors would manipulate the
price for their own good and because the market is unregulated there
are no consequences.

Whales can do some manipulation in the market. But large scale dumping is huge unlikely.
Now it is 4 months since price dumping started. Any cartel can not maintain a dump that much long time.
Volatility is the nature of BTC. You should understand it.

See my below post.