Crypto News of the Day (12.3.)|Do whales manipulate the BTC price? • Bloodbath continues, in addition to USD-bound stablecoins and other news
4 min readTable of Contents
Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
Markets
In the last 24 hours, crypto markets have experienced another very sharp drop, even below 15% or more. The only exception are some USD-bound stablecoins, which show slight growth (USDT, USDC, PAX, TUSD, DAI). Investors are now converting their altcoins and bitcoins into stablecoins. Bitcoin has fallen by more than 25% and is still continuing to fall, such a slump is enormous even for very volatile cryptocurrencies.
You can monitor the current cryptocurrency prices – here.
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Cryptocurrency
- Whales allegedly manipulate the BTC price to get it under $ 6,000
- Mati Greenspan went all-in to Bitcoin, selling all the altcoins
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Cryptocurrency exchanges, Banks
- Kraken starts trading with fiat currencies
- CME will close its trading center due to coronavirus on Friday
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Blockchain, Technology
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Whales allegedly manipulate the BTC price to get it under $ 6,000
According to some analysts, today’s free fall of the BTC is due to price manipulation by whales, which wants to get below $ 6,000, before the next bullish market, of course except for concerns about the global economic recession and the collapsing traditional financial markets.
@SinkTrader has reminded the community of the current global market recession with the coronavirus narrative as a major trigger. He believes crypto whales are pushing the Bitcoin price down to $6,000 in order to buy the dip before the next bull market breaks out.
$BTCUSD
— SinkTrader (@SinkTrader) March 10, 2020
– Markets collapsing
– Global Economic Recession
– CoronaVirus fears#Bitcoin is being manipulated down to below 6K for whales to buy in at the bottom before the next bull market.
Trust me, I won't be wrong. pic.twitter.com/qwZ8ZyrVmj
Others point out that this is the first time that crypto markets operate at a time of sharp decline in global financial markets and panic sales, and it is difficult to predict how BTC will behave.
CT opinions about #BTC dump:
— Feras_Y (@FeraSY1) March 10, 2020
Normal GAP filling/correction#coronavirus related panic Sell off
Plus token
Whales manuplation before halving
Reality(imo):
This is the very first time for #Crypto markets to witness global markets sell-off, so NO ONE knows how #Bitcoin will react
Mati Greenspan went all-in to Bitcoin, selling all the altcoins
Mr. Greenspan admitted that he moved all of the assets he operates via the EToro trading platform to only one asset – Bitcoin (BTC). According to his statement, he made this decision due to the end of the ‘altcoin season’ and in lieu of the coronavirus pandemic.
Altcoins are out of season…
— Mati Greenspan (tweets are not trading advice) (@MatiGreenspan) March 11, 2020
In lieu of the #coronavirus uncertainty, I've moved my entire portfolio @eToro to $BTC until further notice. https://t.co/GNNTCIrm7P pic.twitter.com/bRzyCMCw38
Kraken starts trading with fiat currencies
Kraken will offer nine trading pairs, primarily between the most popular and active fiat currencies. The pairs include USD/GBP, EUR/USD, and EUR/JPY. The fees will be competitive, and based on those of its stablecoins when traded against cryptocurrencies. Margin trading will not be offered, although Kraken does enable it on its crypto platform. The exchange has not said if it plans to open it in the future, which is relevant as most forex traders do so on margin. Kraken says that it plans to launch more fiat pairs at a later date.
The exchange will offer the trading on its global platform, but will block the United States. It is unlikely that the U.S. ban will remain in place permanently, as Americans represent the largest share of forex traders. Although it does not appear that Kraken is offering anything unique to the forex space, its team appears to put together a solid, competitive service.
More details.
CME will close its trading center due to coronavirus on Friday
CME Group, the U.S. firm which launched Bitcoin futures in late 2017, plans to close its trading floor in Chicago. The derivatives exchange, which facilitates the trading of contracts tied to oil, agriculture products and U.S. stocks, said it made the decision as a precaution due to the spread of coronavirus. In a statement the exchange group said:
“No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available.” More details.
FarmVille creators launch Gala game platform on blockchain
The creator of the popular Facebook game FarmVille, Eric Schiermeye, has transitioned to the blockchain gaming industry. Blockchain Game Partners, for which Schiermeyer is the founder and CEO, has announced that it is developing a blockchain-based gaming platform dubbed the Gala Network. The platform seeks to cater to the innovation of developers, and will afford players full ownership over blockchain-based in-game items represented as non-fungible tokens. The items will be usable across multiple games built on the Gala Network.
“Just like networked games and social games, I believe that blockchain games are the next evolution in gaming. Pretty soon, nobody will play a game that is a black hole of time and money, if they have good alternatives that allow the player to retain ownership of their time and money.” More details.
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