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Bitcoin backed down by a big scam, again?


Hello, we are here again; How have you been since the last time? Well, apparently a great scam has slowed the growth of Bitcoin prices; which had exceeded for the first time the psychological level of $ 10,000.

Token Plus

And is that, a Billionaire scam in China 🇨🇳 called as «Token Plus« moved market trends once again.

In 2019, when the price of each BTC token fell below $ 6,000, crypto analysts attributed it to the panic caused in the Asian continent by this scam.

Throughout the year 2019, the important crypto investor, Dovey Wan; He said on multiple occasions that the scam that took place in China had a significant impact on the price of BTC.

According to her, this may have been the main factor for the downtrend that occurred in the middle of 2019.

According to local Chinese news sources 🇨🇳 the stolen value of the naive users who trusted her rises to the astonishing ones; $ 117 million

Recently, the addresses marked by owning a large number of these stolen crypto began to make a large number of movements; specifically 12,000 BTC went on the market.

12,000 BTC moved prices

But, one might ask why in a recent market in which moves billions of dollars in daily operations was affected by this?

The problem, according to the researchers, is that a large part of these tokens were stored in important crypto exchanges such as BitMex, and margin trading operations were also being carried out with a large amount of that $ 117 million.

The big whales, which have control of large amounts of BTC, criticized the recent increase in Bitcoin from $ 8,000 to $ 10,000, describing it as manipulated.

If the entire rally was based on highly leveraged purchase orders; and counterfeit orders are likely that the upward movement is still supported by a lie, crypto exchanges said.

Simply put, a $ 117 million sale in the market is not enough to trigger a sharp decline in the Bitcoin market like the one we saw earlier.

«There was an increase in purchases with fresh money before the Chinese New Year. But not enough to justify the last little bull run. Yes, the movement is driven by Chinese players. His motives are highly dirty, ”says a big whales in Bitfinex.

But, nevertheless, when combined with the fact that the recent increase has seen a lack of influx of fresh money to the spot and over the counter (OTC) markets, it could cause a rather serious problem for the market, and could cause that the price of BTC be reduced again.

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Ernesto Briceño Leonett

Economics student of the UCV. Defender of individual freedoms and of course also of the market and cryptocurrencies.

Ernesto Briceño Leonett

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