Bitcoin going down, BAKKT volume going up.
No manipulation, surely not, no, nope, never...
Or is it just me?Even if it's manipulation, it can't go on forever, and then the game goes in the other direction, right into the parabola of 2020/21.
Me still bearish until mid Q1/2020. For those who are taking too much dec-2019-ATH-hopium: sorry guys (n' girls).
#HODL
It's just you
(and maybe Torque?).
Since BAKKT every significant dip in btc price correlates to volume rise in futures contracts.
Does not smell fishy?
I would hate to attribute too much credit to claiming causal relations to some phenomenons that might be more corollary rather than causal, and really since BAKKT is BTC settled, there would seem to be less desire to use that mechanism to manipulate BTC prices, especially downward, even though there could be multiple mechanisms used to manipulate BTC prices in either direction, including CME and various exchanges, and in the end, sure I will concede that BTC manipulation requires a lot less capital than various other markets to manipulate.
I don't rule out possibilities of some BTC price manipulation going on and being attempted, which seems to be kind of inevitable and a part of what goes on in relatively smaller markets, but some of these matters are just normal market movements within a relatively small markets, and seems problematic to attempt to attribute too much meaning to them or even to try to suggest that only a few players are ultimately causing BTC's price direction (which is kind of the implications of labelling some BTC price movements as "manipulated).
Of course, neither the 42% increase in BTC price on October 25 nor the 3.5x price increase between April 1 and June 27 were feeling exactly organic, yet we might not want to consider those kinds of movements to be completely manipulated but they could have also been in response to some loss of control of down manipulators to have to allow for release of pressures or even loss of control of the amount of UP that ended up happening, so in that regard, we know that these kinds of attempts to move BTC prices in one direction or another above and beyond reasonable expectations is part of our nascent market territory, and sure I will concede again that it is manipulated to some degree, but likely NOT completely manipulated as is implied when making such accusations over relatively small price movements or even trends that are happening (like our current trend to experience a more than 3 week long correction from the excited over-exuberance that had taken place on October 25), because there is likely some fear that some manipulation attempts that go too far will cause a loss of control from those attempting to manipulate too, and the manipulators exist on both sides, so in that regards, one-sided manipulators will sometimes be in control and at other times the other side will be in control, but that still does not really suggest with any strength that the term "manipulation" is really appropriately capturing the free market nature of the battle that is going on between both whales and even how retail can contribute to BTC price direction that starts to move in one direction and cannot be stopped.
In that regard, the alleged manipulators might have to change sides when the BTC price starts moving against them in order to attempt to recuperate their losses in the opposite direction of their original intended manipulation, so would those kinds of behaviors and dynamics be fairly characterized as manipulation or just reasonable and expected dynamics of a relatively small free market?
