Bitcoin Analysis: Mid-Week Update Nov 13 (Manipulation?)
Just a few days ago we concluded with the following: We remain slightly Bearish long-term though acknowledge that the price may be breaking our descending trend line. Still pretty Bearish intermediate term unless we see prices move back into the US$400 range but we are a little optimistic short-term as this up move continues to break small resistance points one by one but now we are going to start approaching more established resistance. We are expecting this move to take a decent pause between now and the 50 day SMA currently around US$375. Of all the times this analyst hopes to be wrong....
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This week has been interesting has been full of surprises to say the least. From January 13th to January 15th Bitcoin dropped from a weight priced of 264.35 on Bitstamp to a weighted price of 178.83 exactly 48 hours later. Equivalent to around a 32.4% drop in price in only just two days, it was a reminder that Bitcoin is still a young and volatile currency. While the price has gone back up a little bit (price of Bitcoin is at $210.58), Bitcoin is still down 22.21% this week, as of January 18th. Most if not all cryptocurrencies went down with the main exception being Nushares, which is up....
Bitcoin price decline is on the cards again and, with it, the question: "Where will it end?" A week ago, the market-wide sense had been that a consolidation similar to late-May's pre-launch contraction was developing - only to shatter at the last moment. The analysis below (Bitstamp charts throughout) outlines target levels to the downside and considers a wave pattern analysis as pointer to where the market might be heading. Update - Wednesday 30 July. Price has made a new low at $560 by throwing under the purple channel and immediately jumping back inside it. A new channel (blue) has....
Bitcoin’s finite supply poses challenges to big banks’ traditional tactics of price manipulation.
On November 9, a writer from the website samczsun.com published a report that shows a number of issues with price oracle manipulation stemming from a few blockchain applications. The researcher notes that price oracle manipulation has resulted in “over $30 [million] in losses so far.” According to the researcher from samczsun.com there’s been a substantial amount of price oracle manipulation in 2020. On Monday, he tweeted: “Price oracle manipulation has resulted in over 30MM of losses so far and it shows no signs of slowing.” The tweet was also retweeted by....
As I mentioned in this week’s market wrap up, the bull run that occurred in the Bitcoin market last week was most likely the result of market manipulation. The Bitcoin price increased from the $220 range to around $260 without any discernible causes, suggesting that the spike in demand came from one person or a cooperative group. A new discovery serves to confirm my belief that the market was manipulated last week. A user by the name of LeakedNews_ on the Reddit sub Reddit /r/Bitcoin leaked an audio recording of a group of whales talking on Team Speak. They mentioned the Bitcoin market at....