Bitcoin News
By Sydney TheCMO
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Every lucrative market is characterized by some form of market manipulation, regardless of whether it is traditional finance markets or the highly disruptive cryptocurrency market.
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Market manipulation is particularly evident in the Bitcoin price action. Take for example the recent news that caused the Bitcoin price to go down. Former U.
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It was reported that the FBI managed to recover roughly $2.3 billion used as ransom to pay the Colonial Pipeline hackers.
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Unsurprisingly, the Bitcoin fear and greed index highlights the prevailing extreme fear in the market.
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The latest 24 hours have particularly been interesting because Bitcoin bounced back and recovered above $36,000.
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In the above scenario, the market manipulators saw an opportunity to take advantage of the FUD that would arise if people believed that the FBI managed to hack the Bitcoin network.
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The FBI used on-chain data analysis to recover the hackers’ public key which led them to a specific custodian who then shared the private key for the particular wallet where the…
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The fact that the market did not crash harder is a good thing because it is a sign that most of the people that own Bitcoin are aware of the intricate workings of blockchain and…
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In summary, having the right knowledge will help crypto traders to make decisions that put them on the safe side of the fence.
The Currency Analytics
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