Bitcoin sudden 400$ pump to 6800$ within minues! Was it due to Bitmex Downtime ?

in bitcoin •  8 months ago

v2_large_89c87374b4aa1c8db3076d67a731c492c7ff31f7.jpg

Hello Friends,

I am back today with another interesting and informative Crypto blog regarding Bitcoin recent 400$ pump today when Bitmex has gone for maintenance.

INTRODUCTION:

This morning all of us saw a sudden run in the bitcoin price around 6:30 A.M. when the Bitmex exchange had gone for maintenance where mostly leverage trading happens.Before this Bitcoin was trading around 6440$ but a sudden climb is seen in the bitcoin price within few minutes and it is supposed due to whales manipulation right after bitmex downtime.

IS BITMEX DOWNTIME AND BTC PUMP RELATED ?

Bitcoin has recently showed 200-300$ pump in recent times but a hefty 400$+ pump within few minutes after Bitmex went offline is contradictory.Many of the experts are blaming bitmex for btc price manipulation.Bitmex is a platform where people do margin trading on bitcoin and some other coins.It is considered one the major reason for bitcoin price high volatility.Major whales place long and short order accordingly.

SHORT SQUEEZE AND PROSHARES ETF SPECULATION !

A short squeeze is a rapid increase in the price of a stock that occurs when there is a lack of supply and an excess of demand for the stock.Short squeezes result when short sellers cover their positions on a stock, resulting in buying volume that drives the stock price up. This can occur if the price has risen to a point where short sellers must make margin calls, or more loosely if short sellers simply decide to cut their losses and get out. The short squeeze caused heavy losses to many short sellers within minutes due to btc pump.

While Proshares ETF decision was to come on 23 August many investors were taking short positions because there were hardly any chances of this ETF approval.But things went opposite, Bitcoin took a sudden jump and all short sellers got REKT.This is pure manipulation, how can any government agency approve ETF in these conditions.

CONCLUSION:

Bitcoin market is really very manipulative due to bitmex.Next major bitcoin resistance is near 7100-7200$.It needs some serious volume to cross it or we can say another support testing of 6000-6200$.Let's see which side it moves.

See you all in the next blog soon !

Don't forget to comment down your opinion below.

Thanks,
Sumit Kapoor
@moneyguruu

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Good info

Hahaha...may be it's because of Bitmex. Frankly speaking for me Bitmex is the place where gamblers meet other gamblers, kind of like a casino. Too much of anything is bad for our health, and the same applies to human greed as well.

·

Yes my friend Bitmex is highly risky and rewarding too, trade carefully

This crypto market is never gonna shoot up as all claims like in 2020 it will be worth $100,000...It's never gonna happen due to the whales ...the market is now under there control...Nothing is gonna happen good.

·

Sensible traders are still taking profits regularly, dont get on the negative side, good luck

·
·

For small investors like me it's not possible to take profits from such fake manipulating pumps...Bitcoin has become playing thing for leverage traders and big whales.

Wow sumit sir aapka blog dekh kr bahut khusi huyi hai kya bat h
Bahut achha lgta apko dekh kr guruji
Apka apna youtube follower dipendra

·

Same here my friend, i am only writing to motivate you guys. Good luck

·
·

Thankyou so much sir

Bahut hi achhi jankari di hai aapne
Bas esi trh aap humara sath dete rahiye

·

Surely, keep supporting

@moneyguruu yes, you are right big whales manipulating the price of BTC, we are small investor can't handle this situation

·

Absolutely, be careful

@moneyguruu Nice content you have shared with us. Your study about crypto is fabulous.

·

Thanks, keep supporting

Sir, can we see dump when Bitmax will start?

·

Its already started and price dumped thereafter

Thanks for the information.

Posted using Partiko Android

·

Welcome, keep supporting

Since beginning I read many articles related to BitMEX and price manipulation.. but this BitMEX maintenance gives another chance to 🐋.
And here is the chance towards long is showing but whales can do it short while everyone is thinking about long leverage... Bitcoin 😎😎😎

Posted using Partiko Android

·

Yes this is how whales trade, exactly opposite

·
·

See here 70% were thinking about the long leverage with 7200 support but 🐋 change it towards 6400..
And 70% investors gone with 7200 and they loss.

Posted using Partiko Android

Hi sir I like your all post .bitcoin jump next few day.

·

Hope so, keep supporting

Sumit Bhai...Your observation regarding bitcoins is really very good.. keep updating with such contents...

·

Thanks, just doing to motivate you guys, keep supporting

Bitcoin is certainly being manipulated and due to overall decreased volume, bigger exchange downtimes increase the possibilty of manipulation. There was $120 million buy order on bitfinx and it certainly shot up the price.

·

Yes absolutely true

nice information @moneyguruu.. BITMEX manipulation shorts quueezed:)

·

Rekt for shorters, keep supporting

·
·

sure as always

bro i follow you and realize how steem works i join steem 5 Days ago your post are really helpful.Your observation regarding bitcoins is really very good. thank you...!

·

Thanks, keep supporting and do hard work consistently

·
·

yep consistency is power.

I think this is totally Scheduled pump by the wheals.
Due to ETF news maximum of traders were taken short position because they were sure this ETF was not gonna be approved or this may be extended. Bitmax has already announced its scheduled maintenance. Whales took its advantage. As Bitmax is under maintenance and trader are not able to exit from there short position whales manipulate the market and create a pump and take huge profit.
I exit my short @6400$ yesterday but dont take long position that is my big fault. lost a big opportunity to take huge profit
what is your opinion sir @moneyguruu

·

No issue atleast you saved yourself from big loss, congratulations

well came back sir.Again your making a good post and important information share us.
I can follow you Youtube and also here steemit.
@aryaan

·

Thanks, keep supporting

thanks for sharing this news #mgsc

Congratulations @moneyguruu! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of posts published

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:
SteemitBoard and the Veterans on Steemit - The First Community Badge.

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

thanks, bro I came to know about this from you by youtube
you are amazing. I am upvoting you. I also have informative content in my account
check this out, I hope you will definitely like this-https://steemit.com/spirituality/@striker91/understanding-the-human-aura

nice post guruji. This post is motivational to all. Acha lagta hai sirji aapke post padh kr. your youtube fan @prashant906

Thank you sir....
Thanks for sharing this information with us

·

Thanks, keep supporting

·
·

My pleasure sir....m a big fan of urs,I inspired from you after watching your few videos on YouTube.... :)

·
·
·

Yes Indeed!!!

Congratulations @moneyguruu! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:
SteemitBoard and the Veterans on Steemit - The First Community Badge.

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Wow. Nice observations, hey guys I'm ICO reviewer can u guys please check my profile if you think my articles are good then you can upvote me.

·

Thanks and good luck

Bitcoin market is really very manipulative due to bitmex
yes mgsc

·

Very true, good luck

@moneyguruu sirji way bitcoin holding grounds around 6000$ and other alts are crushing slowly and slowly, I think massive rally is nearby. Hopes it comes soon enough.

·

Yes almost all alts were bullish a day back

great update sir your blog will help me to know the exact reason for bitcoin pump up and its informative and easy to understand so thank you @moneyguruu sir you sharing your precious knowledge :)

·

Thanks, keep supporting

Hello Sumit Ji. @Moneyguruu

I just finished your total blog , total things described nicely.
Yes this type Spikes in Bitcoin can be Deadly and rewarding to .. but most of the cases small trader will make losses due heavy volatility / demand and supply gets out of balance and spiked up...

Be cautious those who traded bitcoin .. be safe trading....

·

That is what whales do, rekt for short term holders

·
·

We need to be cautious.....

@moneyguruu sir you are great ..
My age is 16 and i am a big follower of you
sir Droshipping videos are helpful
I just want you to look at least one time about my content that isn't i am going on a right way or not. And as i dont know many things about cryptocurrency that's why i supposed to upload that content which i love to write

·

Keep doing the good work, Good luck

@moneyguruu thank you first of all. I am seriously following you since last year. And I am too small to communicate but sir, by sending you this note I really hope my message will boost and you will notice me. And sorry sir frankly speaking I am not in support of leverage trading for the small investors, rather long term holdings are more safe. And ofcourse the formula of trading 3 time in an year is better option ( as per your traiding formula you share on YouTube). Thank you I. Steemit now I am 38 reputation, without investment.

Posted using Partiko Android

·

Great good to see, keep supporting

Hi sir!
I have a Question. As we can see that your votes are very high but why your earning are very low. Besides we see that on another posts have very low votes but those earning are very high? So pleas sir tell me where is the problem?

hi #moneyguruu
you said right Bitmex is now manipulating the btc price

we should for some time btc supporting price

·

Actually whales are manipulating the prices accordingly