& what stands behind it?
Hola to everyone!
Let’s talk about the sudden BTC downfall and a correction of the entire crypto market following it. Yes, here we are – contemplating about some conspiracy against us from the whales and such big figures as the CEO of Binance and so on.
Bitcoin fell almost twice in a few weeks. Altcoins generally dropped below the bottom.
In general, let’s figure it out – was it all by accident, or was the dump provoked by big players?
I want to remind everyone that big players make money because we are wrong.
Their task is to make sure that we buy when they need it and sell when it suits them. The most important thing in such moments is not to expose yourself to panic and act against the crowd.
It is necessary to sell when everyone is happy and buys. The same works the other way – you need to buy when everyone around you screaming their lungs out that the crypto is a scam and panic selling.
The Possible Cause
But let’s take a closer look at the situation with Bitcoin – what caused its sudden downfall? The answer is obvious – panic and the drain of large volumes and the pouring of bad news into the furnace, which the news channels have spread around the world.
On one of the major forums, a very interesting message (dated May 18) appeared, the author of which had warned in advance about such a sudden drop. Here’s what his message says:
You know what?
In fact, sometime after the message was delivered, that’s exactly what happened.
First, there was news from China that bitcoin began to lose value. Many began to panic and sold their coins and we are inclined to believe that the author of this message was right and thus one side throws the other side out of the game.
But here’s another question – who else could benefit from this?
There is an interesting coincidence here: a few days before the fall, Binance made a proposal – for those users who will trade futures in cross-trading (not isolated, where your deposit can be simply liquidated), but a “cross” one, i.e. when your entire futures balance is involved in trading.
And already on May 19, (2 days after that offer) at the time of Bitcoin’s fall, Binance suddenly froze and did not allow it to work on futures. All people’s money was lost. Moreover, after the 30,000 drop ended, Binance did not give an opportunity to buy coins at a cheaper price.
It reminds me of the situation that happened with Binance a little over a year ago, when in March 2020 there was the same sharp drop in the market and Binance also did not allow buying back Bitcoin at a price of 4 thousand dollars.
And then and now, they referred to the workload of the servers. It’s hard to believe that Binance has bad servers and that they simply freeze at such moments.
So, are you telling me that whenever there is panic and everyone is selling coins – the servers coped, and when the time came to buy, the servers stopped working immediately?
Another interesting coincidence.
We do not state anything, but something about this situation doesn’t look very pretty from the outside.
We’ll keep you updated on future news.