This was the cause of the Drop that Happens 4 hours ago. Its coincides time and move.
If I was an insidertrader I would dump the market with shorts sellers just like days before and then, when the news comes out, I would use the panic to Buy all back.
But I am an Outsidertrader
It's obvious Bakkt had nothing to do with the dump and it almost had no further impact on the dump because it didn't orchestrate it in the first place.You therefore can't attribute it to the dump, insidertrader or not
Yes I can. See my explanation below:
1º - There are Financial players getting in now. They are manipulative players, professionals manipulators.
2º - Bakkt and SEC are just kind of sectors of financial, Its composed by financial players (people that has knowledge and experience in financial markets)
3º - For Now, it is not forbidden yet insidertrading on criptos
4º - The falls from 6000 to 5500/5000 was caused by the broke support (Traders stopping and investors getting out). It could be because of BCH fight or tecno stocks falls, I dont know, but its happens and stop falling at 5000, starting a wickoff acumulation.
5º - But it was not a acumulation, its change to a re-distribution. Why?
6º - Thats why: Short Sellers. You may study the Exchanges and find out that the ones wich shorts sells allowed had pushed the price down. Just look your self.
They knew the market was tranding down, without demand, High suply... and.. Insidernews that Bakkt wouldnt start at the date promissed. So It was very easy to knock down a bit more. And when the news of Bakkt postponed would cause de suply necessary they need to cover the short.
Lets recapitulate:
Distribution (highs lowers then last highs) -> Price moves above 6000 -> Stops from 6000 to 5500 -> Oversellers from 5500 to 5000 -> Range market -> No demand, high suply -> Shortsellers (insiders positionig 1) forcing a Re-distribution -> Stops from 5000 to 4500 -> Acumulation form 4000 to 4500 -> High Bullish activity price moves to 4750 quickly and stop -> start a distribution top (Here are the insidersellers positioning 2) at 4750 to 4600-> BAKKT POSTPONED NEWS Price goes from 4600 to 4000 -> Cover short position from 4000 to 4300.
Now the market is free to go up, Short sellers are not confidence anymore and There are buyers, buying slowly but consistently... Smart money getting in
So YES, financial players manipulated it