This Bitcoin manipulation cartel article was published on Medium in February, strictly not sharing this to spread FUD, but simply to get an insight into the possibility of a coordinated effort to suppress Bitcoin price by a cartel (Government/financial elite).
Since Bitcoin market is highly speculative, this cartel might just be a conspiracy theory, obvious/natural price correction/bear market after a bull run, low Bitcoin futures trading on CME, but if you look at the market behavior since the launch of futures, the possibility of a cartel functioning to suppress Bitcoin price can’t be completely ignored.
There are some comparisons made on how the cartel suppressed precious metals market through futures.
What is Cartel?
Cartel is collection of entities that work together to attain certain goal on behalf of the financial elite. Their goal is to control-the-price or suppress-the-price of a particular asset as desired by their ultimate boss (mostly government). Who is Government’s boss? It’s the financial elite.
They consist of Government agencies, big banks, Regulators & Media.
They all work in a perfect synchronization to pull coordinated attacks to attain the goal of price-suppression.
See what happened on Jan-30–2018 and Mar-07–2018? (many bad news hitting the market within hours of each other as Bitcoin was sitting on a critical support at 10K).
Once 10K was broken the Cartel took over and started shoring Bitcoin like HELL.
Why do they do this?
It’s all about Dollar Hegemony and money control.
Bankers and governments have recognized that Bitcoin and Crypto in general is a threat to their existence.
What do powers do when they see anything as a threat or enemy?
You got it, they try to destroy the enemy (by all means). Therefore, It is extremely important for the Financial-elite to stop bitcoin’s rise so their show can continue.
Why only Gold, Silver & Bitcoin?
Why not Stocks, Bonds, ETF, Index funds, Mutual funds etc?
The answer is in the previous question. “It’s all about Dollar Hegemony and money control”.
When money flows into Gold, Silver and Bitcoin it shows that governments are bankrupt and their “Fiat” money is worthless.
If these assets rise, all money will supply dry up and move into these assets.
World will know the King has no cloths. When money stays in Stock and bond markets it supports Dollar trade.
Therefore, it is very important that stock and bonds markets remain intact and have been kept elevated artificially.
In fact, you know what? There is a counter-party to Cartel in stock market and it is called — Plunge Protection Team — PPT.
Cartel’s job is to keep Gold, Silver and Bitcoin markets suppressed while PPT’s job is to keep the stocks and Bond markets elevated.
Most of the Crypto community does not even believe Cartel exists or there is any kind of coordinated attack going on at Bitcoin.
At the most they think it’s Whale or manipulators. They consider everything as “Coincidence”, and that is because it follows Technical Analysis (TA).
Of course it will follow TA.
The Cartel is investing trillions of dollars behind such efforts, do you think they don’t have highly paid chartists on their payroll?
They pay $700 pa for their chartists. How may on Twitter-Bull have that income level?
So why did Bitcoin start going down exactly on the evening CME opened?
It’s “Coincidence” according to the Bitcoiners.
At 20K they were pitching for 100K, but now they say the correction was due anyway and we are seeing that normal 50% dip.
This correction will soon be over and we will be going to 20 first and then the moon…so they say.
First they said the correction is because BCH was listed at Coinbase, then they said its Tether subpoena, then they said No, No its Mt. Gox selling.
Later on Mt.Gox changed his dates of selling. Market is still falling.
Cartel Feeds on FUD and Propaganda.
An EPIC war is being waged against Bitcoin.
Eventually people’s money will WIN. But for now its going to be uphill task for bitcoin.
One day Cartel will lose control of the markets. That day will be EPIC. The prices of Bitcoin (and Gold/Silver) will rise astronomically.
Do anything but please DO NOT sell your Bitcoin to the Cartel.
In fact, ADD more as they DUMP it on the market.