devonuk

Power of speculation - BTC 12% down in a bit more than 24hours

COINBASE:BTCEUR   Bitcoin / Euro
We are obviously after a massive bull run which resulted that price dived into 9k EUR for some short time, but we had a nice bounce back to almost 11k.
I have to admit that Bitcoin trade in the recent days wasn't very exciting, more like bears playing on shorts mostly, but without another big sell off, price wouldn't be going down that quickly, so what is happening? Speculation. Speculation is always present, no surprise. If you hold enough Bitcoins you can suppress any movements, trying to push the price up, by constantly selling similar or larger amounts than purchased coins - this is what is currently happening on Coinbase Pro.

Let me know what's your view on that?

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