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

Cover image via U.Today

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 is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
Bitcoin (BTC) and Gold (XAU) Benefit Amid Plenty of Fear and Blood: Dan Tapiero

Bitcoin (BTC) and Gold (XAU) Benefit Amid Plenty of Fear and Blood: Dan Tapiero

XRP Price to Reverse After Reaching $0.20: Trader Explains Why

XRP Price to Reverse After Reaching $0.20: Trader Explains Why

Bitcoin (BTC) Price Targets $7,600 with Chance to Hit $8,900 Later

Bitcoin (BTC) Price Targets $7,600 with Chance to Hit $8,900 Later