Did China short the Crypto Currency Market?steemCreated with Sketch.

in #cryptocurrency7 years ago

We knew Bitcoin went on a parabolic curve all the way up to 5000 points and then China banned ICOs and then told the exchanges to close. After the market took a serious dive and shed nearly 30% of the capitalization, reaching 2700 points at one point, and then took a reversal and scaled up back to 4000 points over a span of a day.

This is odd and is taking the staircase down and took the escalator up, which is not what the market usually does. It does the reverse most of the time.

Hence, this begs the question. Did China deliberately created DUF (Doubt, Uncertainty, Fear) in the market so as to short the market and gave it a short squeeze and then buy up the market and cash out?

Food for thought.

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