Traders believe that the price of bitcoin fell from $20 000 due to market manipulation

Despite the medium-term recovery, the cryptocurrency could not test the two primary levels of support. 27.May.18 9:08 PM By Abigail Richards Photo Toinnov.com    369

The group of crypto traders suggested that the price of bitcoin started to decline from the historical maximum at the level of $20 000 in the same period when bitcoin-futures for CME and Cboe were launched. According to traders, using the futures market, institutional investors and large retail traders made market manipulations to cash-short contracts, buying and selling vast quantities of bitcoins. It was also said that the main crypto-wobble had reached a historical maximum on December 17 last year, the day when trading in futures contracts for CME was launched. Traders note that it was evident that smart/institutional money was stockpiled until this date. It was also said that since December 17 of last year the bitcoin market was bearish. According to experts, since December last year, the price of bitcoin is continuously decreasing. Moreover, besides, it was noted that despite the fact that since December 17 bitcoin experienced two medium-term recoveries, the crypto-currency has not been able to test the two primary levels of support, namely in $12 000 and $10 000.

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