- A market analyst is convinced that the Bitcoin is currently being manipulated by billionaires.
- It sees a plan to increase the Bitcoin course in order to make it more attractive as a strategic reserve.
In the past few days, Bitcoin (BTC) has fought to recapture important support levels. The dwindling Bitcoin prices have triggered concern with investors, and several analysts speculate about market manipulations by billionaires.
How billionaires can press the BTC course
In one X-Posting David Wolfe, a crypto dealer, described in detail how billionaires manipulate the market for their profits. He posted a video about the billionaire Jamie Dimon, CEO of JPMorgan Chase, who promised to fire each of his dealers who buys Bitcoin.
On September 12, 2017, Dimon named Bitcoin a “fraud” and a “bladder” during his appearance at the Delivering Alpha Conference. The billionaire’s speech had a major impact on the market and at that time led to a 24 percent drop in the price. This first comment marked the beginning of its publicity skepticism towards Bitcoin.
But Jamie Dimon reported reportedly as the biggest buyer of Bitcoin this weekend. This implies that it manipulates the market to acquire Bitcoin at lower prices. The idea is that he would sell his BTC stocks with increasing prices to make great profits.
Wolfe pointed out that other billionaires are currently manipulating the Bitcoin course in a similar way:
“How billionaires manipulate the crypto market and almost every other market is now happening in cryptocurrency.”
He added that some billionaires plan to push BTC into the range of $ 60,000 in order to buy the all -round inventory. According to Wolfe, the main goal is to get control of Michael Saylor’s microstrategy shares. Meanwhile, Saylor remains a strong BTC advocate.
How CNF reportedSaylor announced plans to raise $ 2 billion through convertible bonds to buy more BTC. Saylor also has Amazon and Microsoft promptTo use Bitcoin to get cash reserves.
Wolfe’s statement has caused mixed reactions in the crypto community. While some agree to him, others consider him a conspiracy theorist and his talk as nonsense.
BTC exceeds $ 80,000
The BTC course was drastically fallen in February and wrote down $ 79,000 on the last day of the month. He soon climbed back in the first week of March after President Donald Trump issued a implementation regulations for cryptocurrencies.
This rally did not take long and the BTC course soon fell less than $ 80,000. How CNF reportedcomes the decline in price because it becomes stronger Japanese yen together with the rising yields of government bonds.
At the moment BTC is over this brand again and is at 82,433 $ traded after it has increased by 0.86 % in the last 24 hours. The day before, Bitcoin was traded up to $ 83,479 before falling to the current level. However, the trading volume has decreased by 20.9 % to $ 47.1 billion which suggests a dwindling interest of investors.
Now that the Yen-Rallye has subsided, the market is expecting a new risk to take risks from which Bitcoin would benefit.
