Bitcoin has lost 30% of its value in the last week. Now, the digital currency has entered in an ugly new phase which is of underperformance, Its latest crash contains a pattern which could release a secret about the manipulation of the crypto exchanges.
Bitcoin’s price was volatile in the previous year. It rushed to a high peak before Christmas 2017. Now, Bitcoin’s price is scrolled down with a low hit by February.
In a brief doubtful period of September, Bitcoin’s performance fell upon cryptocurrency markets. And in September, October and November, bitcoin showed much volatility as a rock, when the crypto markets roared and wept. Every day Bitcoin traded in between US 6200 to US 6600 dollars, but now the stability made bitcoin boring.
Pegs were most popular in the last century. Some of the countries learned how to spend a lot of money to protect the currency. A nail is an Australian dollar that was pegged to the US dollar for a long time and is where the exchange rate is all set in the position of concrete.
Although many of the countries held until their currency dropped, pegs went out of fashion. When there is the peg in stability place, it can be deceptive in outward appearances. It can exist in local currencies because they have the government’s support. Those nation’s governments manipulate the value for some reasons. For this, a ‘collapsed peg’ pattern is seen. Bitcoin doesn’t have any government behind and nor they are supported.
Manipulation is well-established in crypto markets, where price manipulation bots run rampant, bitcoin is assumed of collective free will in a controlled system. It is by the anti-corrupted mathematics of cryptography. The currency collapse patterns request Bitcoin may not be so open.
Manipulation is being performed on you when you are not intended to commit manipulation. Many of the manipulators want to support the high price, but none of them know when the manipulation will stop.