The debate around the Bitcoin price manipulation resurfaces
A 15% price drop last Tuesday rekindled the argument
As the third quarter of winds down, the momentum of Cryptos which was set ablaze by the rapid rise of Bitcoin in Q2 has all but fizzled. The recent ‘flash crash’ took the premiere digital coin below the all-important support level of $9,000 that it had held since mid-July. Flash crashes are not that uncommon in financial markets. Being a trader myself, I have seen a fair share of those in Forex markets & stocks.
Considering the Cryptos are not as liquid as the other two financial markets & unregulated to a large extent, every time an incident like this happens, it triggers a debate whether the price of Cryptos in general & Bitcoin, in particular, is manipulated. Before we move on to address this issue, here’s the performance of the Top 10 Cryptos in the month of September.
Bitcoin has been the sole driver of the Crypto rally earlier this summer and held its gains relatively well. Alt. coins, on the other hand, remained anemic for the most part posting steeper falls & anemic gains. September seems to have turned the trend — at least for…
