HOW THE CARTEL IS MANIPULATING THE BITCOIN MARKET

We have 85% buyers and 15% sellers, yet for now the price keeps going down.

If you look on the right of my trading screen, we can see that trader sentiment is 85% bullish. In other words 85% of individual traders are holding long positions (buying). Yet the 15% of traders holding short positions (selling) are able to supress the price downwards. That is because the smaller number of sellers have much larger trades and have the deep pockets to push down the price. They have quietly accumulated large amounts of Bitcoin when it was going up and are now able to dump at will.
The above does not even include the institutional traders that trade the COMEX or CME (commodity mercantile exchange) That`s where the real manipulation takes place.
So how are these whales able to do this?
One way is to pump and dump. The pumper and dumpers are people with deep pockets who bought Bitcoin last year before it went right up. And simply sold Bitcoin on mass when they felt the price and market euphoria as high enough.
The other way, is the way they do it via the futures market, using futures contracts. That is the way the really big whales do it on the Comex market.
So how does that work exactly?
You buy a short contract on Bitcoin. Which essentially means you are borrowing someone else’s Bitcoin for a fee. With a promise to give it back at a later date. You then dump your borrowed Bitcoins and buy them back at the later date and at a lower price.

I found a video on YouTube that explains:
YouTube: shorting bitcoin EXPLAINED!

So who is the cartel? It is believed to be a group of bankers and governments and special interest groups. They work together to supress Bitcoin in order to destroy it. Bitcoin and crypto currency in general is a threat to the Fiat money system. The Cartel wants to protect the fiat money system. As bankers, fiat money has suited them and they don`t want competition from crypto currency.
You may have seen this post on steemit that explains the Cartel and provides evidence:
Google: “4th dimension: Bitcoin-Manipulation “
The post is by ‘supercrypto1’
The big question is will they succeed in the long term to destroy Bitcoin? I believe that they will fail to weaken bitcoin or make it disappear. In the short term they have to cover their shorts. Which means that they have set dates when they have to buy back the borrowed bitcoins in order to return them to their owners. This is known as “short covering”. This short covering will lead to a lot of buying by the Cartel. Which in turn causes a bear market rally. So we can certainly expect a market rally very soon.

In the long term they will also fail to destroy Bitcoin. Sooner or later there will be an avalanche of fiat currency failings. As governments find themselves with unpayable debt. Some governments will have to hyper print in order to pay for gigantic debts. The general population will turn to bitcoin as an insurance against hyperinflation. We are seeing this now in Venezuela. The country has been hit with 13000% inflation per year. The highest volume growth of Bitcoin buying per capita in now in Venezuela. Turkey might be the next candidate for high inflation. All be it not hyperinflation.
In the future there will be many more dominos that fall into high or hyperinflation. Bitcoin buying volume by ordinary people will overtake the buying power of the Cartel. We will then be on the path to high value Bitcoin and other crypto currencies being widely accepted as forms of payment.

INFLATION

In years gone by, before the existence of bitcoin. Throughout history we`ve hyperinflation many times.
Brazil with the Cruzeiro
Argentina with the peso
Germany Weimar republic with the Dutch mark
Hungary with Forint
Zimbabwe with the Zimbabwe dollar
Now a days sovereign debts are far worse compared to past decades. So high and hyperinflation across the globe is inevitable.
I don’t think that crypto currency will ever replace fiat currency, nor should it. I think they will co-exist. Just like online shopping and physical retail shops co-exist.

Images curtesy of pixabase.