Analyst: There is no evidence of bitcoin price manipulation Trader …

Analyst: There is no evidence of Bitcoin price manipulation

Trader and technical analyst Peter Brandt is confident that convincing evidence Togo, that the bitcoin rate was manipulated with side of the “whales” can not be.

Commenting on various posts about Tom, that the fall in the bitcoin rate could be caused launching futures on cryptocurrency sites CME and CBOE in December 2017, Brandt wrote: “No evidence Togo, that the “whales” were shorting the cryptocurrency market. Weakness in May seems, was due to liquidation of long positions of small individual traders “.

Brandt also notes that the futures market can render limited impact on the bitcoin rate, since the number of long and short contracts is limited. “The number of short contracts always corresponds to the number of long contracts. Always. Whatever from market “, – explained is he.

Analyst: There is no evidence of bitcoin price manipulation Trader ...

If the futures market provided this the same influence from the beginning of the year, as in December 2017, then bitcoin would demonstrate the same volatility and accelerated his decline, Brandt said. Instead of this on market 3 major corrections occurred, moreover each next of they differed more low volumes for sale.

Brandt’s view is shared by a group of traders, which draws attention to the fact that a decrease in sales volumes during corrections after initial price drop in January, suggests that bears are “running out of fuel”.

“Have not dropped only sales volumes, but and the falls themselves became less deep. Each element of each new descent is less steep, than on the previous decline. RSI, momentum indicator, also shows sales were less active. By in our opinion, the trend is leveling off, and the bearish trend is running out of fuel “, – writes Group.