Bitcoin: Cause of 50% Flash-Crash $6,500 to $3,200
The current financial system is the most corrupt system in place and therefore most difficult to challenge. The crash we have seen so far (20K to 3.5K) was absolutely expected. This is Exactly how it was meant to be!!…I don’t think these are usual “Market Cycles”.
Bitcoin world is full of “coincidences”. I am going to cover 3 “coincidences” that happened during the 50% Flash-crash of Nov 2018.
Doors of the Flash-Crash opened
Since Jul-2018 the Bitcoin volatility had reduced substantially. So much that it had become a stable coin. Experts were confident that $6,000 is The “final” bottom and soon we will start the journey to the moon: 50K by 2018 EOY, 1M by 2020 and so on. Few experts appearing on CNBC were generous enough to cut down their EOY-2018 predictions from $25,000 — $50,000 to $15,000 — $10,000. You were told: Take-it-or-leave-it; this is your last chance to get aboard the “last” shuttle to the moon.
And, something snapped on Nov-14–2018. To everyone’s surprise, Bitcoin started another Flash-crash. The long held support of 6K was broken. Daily, Weekly, Monthly lines were broken. Now experts are looking for the next floor.
First, the Magical 4K touchdown!
1) 11/19 — Tweet on Bakkt & 4K
2) 11/20 — Bakkt tweet — Launch rescheduled
3) 11/20 — 4K touchdown
Emphasis: I am NOT at all claiming I predicted it. All I am saying is: You can anticipate the “moves” if you know how the “news” appear suddenly from nowhere “coincidentally-one-after-the-other” on the Wall Street when the flash-crashes are in progress.
Tree was shaken once again!!
Three coincidences happened during this Crash. 3 important news flashes very close to each other and BAM!!! Bitcoin crashed 40% in 5 days.
1] SEC-ICO Crackdown, 2] DOJ-Tether Probe continues (is this new? but it was published anyways) 3] BAKKT reschedules Launch because of “volume of interest”
The flash-crash is still in progress as you read it. $3,450 hit just today (Nov — 24–18)
This crash initiated in S.Korea
Korean Won (KRW) accounted for 60% of all Bitcoin traded volume on/before November 10th. The very next day (11th), it suddenly dropped all the way down to 0.90%! The markets dumped immediately afterward and lost 40%.
Do you think this was coincidental? This attack was planned long time back. Only idiots would believe this was an un-planned event (image Credit CryptoMedication @ProofofResearch)
Is this normal?
After 11 months of downward journey, many claim this is a “normal” bear market. No one asks why the Bitcoin crash started exactly from the evening of CME Futures launch on Dec-17–2017 and never stopped since then.
First —It’s the BCH launch on Coinbase
Then it was — Sell-the-Futures-news
Then — OMG, it’s the South Korea Regulation
Then —Oh Sh**, Whales are manipulating
Then — Rats, Buffet’s Rat poison & Bill Gate’s doom
Then — BTFD, it’s MtGox selling
Now — Uh, Oh…BCH fork & the hash war
Thus, We started at BCH and have come full circle back to BCH. In the meantime, Bitcoin crashed 80% from 20K to 4K.
There has been ONLY ONE DIRECTION and It’s DOWN. So far we have achieved 80% Crash.
Experts claiming “Market Cycle” in the hind-sight
Experts are claiming: this is “Normal Bear Market Cycle” in the hind-sight. I don’t think so. Experts were confident of 50K to 1M in Dec-2017, why 4k instead?
Puzzle
Here is a Puzzle: Find the reason why Bitcoin crashed since Dec-17–2017? Two charts below have the answer. In the meantime Mastercard is working on Fractional Reserve Crypto Bank.
Previous Flash-Crashes?
Here are first two flash-crashes with the topping of “coincidental-crowding-of-the-news” on the street.
The 3rd Dump started soon after Charlie Shrem’s following prediction.
Within 2 days, Bitcoin reversed its trajectory exactly at $9,990 when Warren Buffet came out with his Rat Poison comments. Few more “no-surprise-coincidental” news crowded and took the Bitcoin to 8K. Since then we have never seen 10K.
Andreas Antonopoulos talked about “Global Banking Cartel”
Finally, after 12 months and 83% of drop people are realizing presence of “Global Banking Cartel”.
How will this end?
Yes, there is light at the end of the long tunnel. I think this is how it will end — “This is not a prediction” Check Bitcoin: the 9 inning game.
About author:
Medium “Top Bitcoin Writer”. Please also visit my Silver view Where is The Future Bull Market — Bitcoin or Silver?
More at my twitter @Super_Crypto
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Bitcoin
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LTC
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Bitcoin Cash
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