BitMEX Conducts Maintenance– Bitcoin Surges, Manipulation Suspected

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

Wed, 22/08/2018 - 16:05

BitMEX Conducts Maintenance– Bitcoin Surges, Manipulation Suspected

Cover image via U.Today

Read U.TODAY on

Google News

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.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He 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.