BitMEX Conducts Maintenance– Bitcoin Surges, Manipulation Suspected

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Yuri Molchan
Analysts are sure that the Bitcoin spike that occurred during the two-hours’ break on Wednesday while BitMEX took its downtime was set up deliberately
BitMEX Conducts Maintenance– Bitcoin Surges, Manipulation Suspected
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Analysts are sure that the Bitcoin spike that occurred during the two-hours’ break on Wednesday while BitMEX took its downtime was set up deliberately. During this period, traders were unable to make short deals on BTC. Therefore, the bearish dominance temporarily lifted.

The opened short contracts were dismissed for the maintenance period. However, experts believe that this was not the real reason for the BTC rally.

They reckon that big-scale players simply manipulated the BTC market, making the price rise, and just took advantage of the BitMEX downtime to make this inorganic movement seem natural.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.