Bears movement in crypto market
Bears movement is not a new thing. But after watching the peak in December, 2017, this bear movement was not expected. The analysts of the Crypto Market were thinking that bulls will active till the end of this year, 2018. The scenario is different from the analysis of analysts. The recent analysis from the University of Texas, about crypto exchanger Bitfinex showed that price rise was artificially inflated through manipulation of the platforms.
That is the thing that some of the analysts telling when the bitcoin was on bulls. It seems like artificial manipulation, that is also called pumping and dumping. There are hundreds of groups doing the same thing in some social networks. They are using social networks for pumping and dumping. They don’t only do that with major base currency but also with alt-coins. There are hundreds of thousand coins people are creating on daily basis.
Bears Movement with pumping / dumping
If you want to see the manipulation of market then you will require to join some pumping / dumping groups. Then you will understand their process. They are sharp, they don’t tell you that they are going to pump or dump a coin. They will just give some signals and show you their results that how much they earned just in an hour or two. Normal traders will invest in Cryptocurrency and start buying the same coin, meanwhile the price will go up and up. This is artificial manipulation. (It is recommended to learn fundamental analysis or technical before trading). This doesn’t means that bulls are active in market, this means that some people are manipulating the price and at the peak, they will start taking profits.
When they start taking profits then some other traders also start following them and they also close their trades on high price, they get profits. Other traders think that they will also make money, they start buying to make some profits. At this time some buyers stop buying and start selling their coins. They make money by taking profits. But some traders keep buying and at the end they see that coin sudden crash, this is now bears movement because of profit taking. This is a short term strategy and there will no more bulls in market. This is a pre-planned game and strategy that most of the traders do not know.
Manipulation in market may cause bears movement
The above mentioned story tell our readers that how people are doing manipulation in market. The crypto market is now going to be MLM kinda thing. There is no regulations in the market, that’s why this kinda manipulation is easy to do. Not only two to three groups in social media, there are thousands of groups doing the same job. Coin exchanger are also involved in this crime and that is the thing which was highlighted by University of Texas in their investigation.
Other factors to consider for the latest price crash, according to Mr Peroni, include reports from state-run Chinese newspaper People’s Daily that claim China will continue to clamp down on illegal fundraising through cryptocurrency platforms.
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