Crypto Market Deep Retreat - More to come?

in bitcoin •  9 months ago

Okay, this is my take on the recent massive sell off in the Crypto space. It all started shortly after American Futures were approved for Bitcoin and big institutional money got involved. Since Bitcoin has a finite amount of coins available, the only way big money could manipulate it was to buy all the coins they could, driving up the price, then dumping them on the market and taking profits.

That was stage one. Not only did they make sizable gains but they also shook out newbee investors.

Stage two. I believe the current run up is a false flag set for another sell off to shake off even more traders and investors, making available even more coins at bargain basement prices. Then the institutions will have a majority stake in Bitcoin and other Cryptos to better control and manipulate this space like they do all other financial instruments. The majority of Alt coins seem to follow Bitcoin... when Bitcoin goes up, they go up. When Bitcoin goes down, they go down.

I am not a financial advisor and this is for discussion only. It is not financial advice. I welcome your opinions!

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