Bitcoin's Price is Still Totally Rigged
- November 29, 2019 at 4:12 am #2407
OK so I finally decided to trade a little bitcoin after not trading any crypto for many months (it feels like months anyhow). I had finally come to accept it was/IS dying a slow death.
I caved and took out a tiny short position (only $1K in BTC total short). Literally within 5 minutes of opening my first position in months it (Bitcoin price) jumped up a couple of hundred dollars and put my account in Margin call. Bitcoin is a rigged game in my opinion. I guess they all are its just that with BTC the rigging is on epic proportions.
Bitcoin was been dying a slow & low volatile death and within minutes of making a trade the BTC/USD price moves majorly. Now that might not seem like a big deal but it goes to show how rigged it really is.
In 2017 when BTC had a major year I think a big part was because I was taking on MONSTER sort positions. Some insiders at the exchange saw my positions and created artificial short squeeze that created realized price movements. Even though I had a tiny position of approximately $1,000 the BOTS are still programmed to pump up the price slowly and steadily until you close the short position.
- November 29, 2019 at 4:18 am #2408
I can’t prove it but I’m pretty sure they (the Cryptoluminati) were able to fake such ridiculous Bitcoin prices partially because of the large short positions I was repeatedly forced out of over and again in 2017. That sucks!
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