On September 22, 2018, Coin Desk reported that a Financial Assistant in Gaza estimated that at least 20 unofficial exchange offices have been dealing with cryptocurrencies offering services to local users. Since, there were no local opportunities to put money to work; local clients have been using these services to put their money to work.

One of the currency dealer reportedly seemed to have said, “Bitcoin, in their opinion, is cheaper, safer, and quicker; nothing works with Palestinian banks. Bitcoin wallets are alternative banks.” 

Also, it was stated, that the Palestinian communities revolve around local trust networks and physical assets like cash, because of high unemployment and poverty rates, which create urgent daily needs.

Reportedly, World Bank estimates that nearly 21 percent of Palestinians live below the poverty line on less than $5.50 a day.  Thus, the volatile and illiquid assets are predominately useful for cross-border transactions, but not everyday ones.

Reuters, in their publication on April 26, 2019, reported, “Armed wing of Hamas is using increasingly complex methods of raising funds via bitcoin, researchers say, highlighting the difficulties regulators face in tracking cryptocurrency financing of outfits designated by some as terrorist groups.”

Well, not at this time of Bitcoin manipulation; investors are thinking about what next? It is important to understand that when it comes to the BTC price, it is not just one person moving the levers behind the scenes. There are big whales, and big institutions are collaborating together and are actively working together to execute as if this was the intention of one person. So, all of these people together are working like a combined force leading to the fluctuations in the cryptocurrency market.

In theory, the combined forces sit behind the scenes, and they manipulate the price to their advantage.  If you do not understand the game of these players, it can lead to loss, and if you do understand, it can lead to profit.

It is not all doom and bloom, but we need to understand that the institutions and big players have arrived, and they are pulling the “Deucey” over the general public.

An educated eye will be able to read the behavior and actions of the large, sophisticated traders as well as the average traders in the chart. There is a well-known theory called Wyckoff Accumulation, in which large players try to build positions in a way to shake out smaller fish without causing much of a further drop in price.

The pool operators or the investors who move the price trends are classified as operating from Phase A through Phase E.  It helps to understand these concepts.

The big players have stepped in. It just looks like BTC is about settling for a long haul and not for a while.