Bitcoins failing price could be caused by $2B Chinese Ponzi scheme dumping its crypto ...
However, the firm made it clear that while it does indeed conclude that PlusToken cashouts correlate with drops in Bitcoins price, correlation doesnt exactly mean causation.
What Chainalysis does say is that PlusToken dumping causes increased volatility in Bitcoins value, as well as correlates significantly with Bitcoin price drops.
Keep in mind that PlusToken cashouts are just one of many potential influences on Bitcoins price. Media stories, concerted market manipulation efforts, algorithmic trading errors, or any number of other factors may have contributed to volatility as well, said the firm. https://thenextweb.com/hardfork/2019/12/17/bitcoin-cryptocurrency-price-dump-ponzi-scheme-plustoken/
Forbes wrote yesterday that "the bitcoin price might struggle over the short term due to the $2 billion PlusToken scandal", but I tend to agree with the words from thenextweb's article, namely with "correlation doesnt exactly mean causation". I think the current market can easily devour 20,000 BTC, that is, according to the article, "is still waiting to be dumped", without even noticing it.
What do you guys think?