The market is officially deep in the red after Bitcoin fell from almost $7,500 to today’s low of $6,400 in a new massive sell-off. However, no one knows who to blame for this major decline.
After the news that Goldman Sachs is sidelining plans of opening its cryptocurrency desk, the market took a sharp downward turn. The main reason for the drop, however, is the fact that someone took 10,000 BTC in a short position while the entire market sentiment has been positive.
According to the top analysts in the field, no one knows why someone would short $74,000,000 (10,000 BTC) in a position so quickly. It simply doesn’t make sense unless the trader knew something that we all didn’t.
Other analysts speculate that this could have been someone at Goldman Sachs themselves, taking the $74 million short position, waiting for 2 days and then announcing that they are pulling out of crypto.
Obviously, these are all speculations. However, technology can help us see the real victim here. According to one AI technology that always keeps a watchful eye on the cryptocurrency market, there is clear evidence that the drop points to a deliberate market manipulation.
When the crypto drop occurred, at first, no one knew what was happening. Later in the day, the catalyst was found – in the form of Goldman Sachs pausing its developments on its rumored crypto trading desk.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post