The reasons why Bitcoin is falling down
Bitcoin fell down in price lower than 6000$ before Black Friday, and further the support level was coming through one by one. Later the prize tried to hold on the 4400$ level, and even did it for a few days, but Bitcoin collapsed again on November 25th, and at this time it decreased lower than 3600$. People could not bear it anymore, and not everyone could cope with this, we mean the investments into cryptocurrency of course.
So what exactly happened on November that made it the most horrible month for Bitcoin in 2018? There are three versions of what pushed it to be in a long crisis.
The first version is two enemies starting the hash rate war, and renting for it the power from Bitcoin miners during Bitcoin Cash had been broken apart into two cryptocurrencies on November 15th. Nevertheless, any product requires to be paid for it, that is why both of the teams were intensively selling out Bitcoins and personal cryptocurrencies.
The second version is based on the 6000$ prize level being critical for miners, and when prize went down the majority of it started to work in disadvantage turning off their equipment. Eventually Bitcoin`s hash rate immediately became worse, same as in the summer of 2018, the reason why the worries of society at the market has increased.
The third and the last one version why Bitcoin fell down according to our editors is the planned sell-out with a purpose to establish new minimums. In other words, we are dealing with a market manipulation. Who needs it and why, we will try to figure out now.
Bitcoin and conspiracy theory
It is all begun one year ago, when American exchange houses CBOE and CME had started a trade with futures for Bitcoin, and thereby launched it on a high level under the name of 20000$. Therefore, just a small amount of people listened to the voice of minority about futures trade causing a lot of problems to Bitcoin
Anyway when Bitcoin collapsed by 1/3 part during New Year holidays everyone decided it is just a correction. Another version appeared afterwards that the market is still falling down because of Chinese New year, meaning that people spend cryptocurrencies to buy gifts. The market continued to go down, and new excuses about reality had always appeared, it was so until we have got to the place where we are now…In other words It is around 4000$ rate.
So who has been oppressing the market all this time? Was it pillars, bankers or mysterious cartel? You can call them as you want, but after the trade of futures for Bitcoin having been started, owners of a huge capital received a perfect tool for making private investors bankrupts. They just buy Bitcoins at off-market, which is overrate the capacity of the cryptocurrency exchange trades according to the rumours.
Afterwards they make contracts on futures and count on a decrease in value, and they start to sell cryptocurrency at exchange house by the time of shutting down in order to provoke the prize fall to the required level. Such scheme is simple and genius at the same time. Therefore, a big amount of money let’s call it in a simple way bankers who collect cryptocurrency and meantime earn money due to market falling.
When shall we wait for ToTheMoon?
The whole year the market is ruled not by usual bears (people, clients) but ruled by grizzly bankers wearing expensive suits, and if our theory is correct then Bitcoin progress is not expected in the near future. We don't need to panic as well, cause the main target for any banker is multiplying the fund and they are not interested to destroy cryptocurrencies.
Nowadays crypto market is not controlled, in contrast to the same stock market where for such manipulations with rates you can quickly get a criminal term with confiscation and employment taboo in the financial sphere. Therefore, pushing Bitcoin to the maximum gives opportunity for its value increase and strength at least in order to continue earning money. Likewise, such disbalance will be there until this loophole is closed, and the last summit of Great 20 made clear for us that rules of ‘Wild West’ at crypto market will keep on going likely until 2020. That exactly same year was chosen for appearance of international legislation. Anyway regulators and states will be trying to get ICO until it happens, they also disturb the work of decentralised exchange houses and warn about risk of investment into cryptocurrencies. All this time they whatsoever will not interrupt bankers to get more reach, perhaps they are part of it or receive salary from them, but that is another story.
There is an assumption and it is just a theory that next year Bitcoin will set a new value record being uplifted to more than 20000$. Through this to involve new investors among bank clients to the market. When situation will be clear nobody knows, but for today almost everything was taken from crypto investors, and bankers is going to force everyone to join this market for earning more money. The market needs something new. New hamsters, new actions…