The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Not only this is the reason for not leaving bitcoins in exchanges, even the exchange are always risky as you are not in control of the wallet where you are storing the bitcoins. So it is always advisable that if you are not trading then better to shift them to your own wallet and when ever you feel you can transfer and trade.
About the current way of bitcoin getting traded in equity or forex exchanges , that is also the main reason behind this crash and i agree that their is a big community who are manipulating the bitcoin and its price fluctuation. Like what you told of they are putting sell order in forex exchange where they dont have to hold any physical bitcoin but it is only a contract and other hand this is driving the price go down and collecting the physical bitcoin in low.
