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