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Bitcoin (BTC) Price Analysis: This Pattern Keeps Showing Up Everytime BTC Gets Manipulated

Published 06/04/2019, 06:31 AM
Updated 06/04/2019, 07:41 AM
Bitcoin (BTC) Price Analysis: This Pattern Keeps Showing Up Everytime BTC Gets Manipulated

Today’s Flash Crash


Two sell orders placed during the Asian trading session appear to be the root cause of the crash. The first sell off, placed at 00:00 (UTC+1) this morning, caused Bitcoin to unravel over 4.5% from $8,478 to $8,093. The second sell off followed an hour later, and sent Bitcoin packing a further 4.5% down to the dizzying low of $7,730.

What’s interesting is that a Whale alert was raised moments before the dump happened, signalling that somebody had moved 21,560 BTC ($213,365,390) from a wallet on to Coinbase. Suspicions have been already raised that this Whale/entity could be the culprit, and that the first crash used only half of the amount moved to Coinbase, which means that a second crash could come later.

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This article appeared first on Cryptovest

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