A very well written article with valid arguments and reasons. Indeed a good read! The process it has described, is very simple.
Banks and brokers have accumulated a lot of bitcoins from their OTC market deals. Now they have bought future contracts with negative outlook and started selling the accumulated bitcoins to crash the market. Simple and effective strategy to make tons of cash!
The scenario as described in the article is definitely possible and the way it was written, is very convencing as well. Just thinking about the volume we will require to do such kind of manipulation. Any idea?
Buying all the way from 10 000 to 6 000 then dumping it to reach 4500 is a plausible scenario?
Seriously?
And no words on how inevitable all that money that was poured in those buying deals helped prop the price?
I honestly wonder if it's safe to make a fart without somebody coming with a conspiracy theory why the evilz banks are crushing cryptos because of that fart. I've yet to witness a price drop that is not the fault of either banks, wall street, goldman or the reptilians.
Isn't OTC is like having a buy wall?
Details, details...
The pitchforks were sharpened, the torches are lit, who cares that the ones selling are also the one that bought and raised the price up at that time.
Details...
I'm always amazed how this community swallows up those conspiracy theories like viagra pills.