Analytics / Forex and Crypto News
One of the crypto whales hinted that the rise in the price of Bitcoin to $9850 is not the result of fundamental data, but the manipulation of whales. Sharp short-term rallies appear after placing false orders on exchanges.
The crypto whale pointed out that every time a fake order was placed on the exchange, the price of Bitcoin began to rise. At the same time, the market and its players do not learn from past mistakes. They willingly lend themselves to the manipulation of whales, giving out wishful thinking.
@Keith Joe007 also said that a fake rally caused by a fake order should not end quickly. It can last for a long period. Both kickbacks and rallies always took longer than analysts usually expected, and the maximum price could even “linger” for a long time until the correction began.
However, if after placing a fake order real investors enter the market, then a fake rally can become a real medium-term and lead to an increase in the price level.
Joe007 also noted that the inflow of fiat money is not enough for Bitcoin to begin full growth. Compared to 2018, more fiat money is required for growth.
Bitcoin market stories are now increasingly revolving around the long-awaited reduction in miners' reward (halving), which should happen in May 2020. The manipulation of the "whales" may then have every chance to develop into an "organic rally".
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov