The Crypto Times
Image default
Bitcoin Ethereum News

Cryptos Have Rough Week due to Market Manipulation

Over the last month, the total market capitalization of the cryptocurrency market has dropped from $110 to $70 billion. The price for all the cryptocurrencies, whether we analyze Bitcoin or Ethereum, has been falling for the last several days. A large part of the reason for this is market manipulation.

Traditionally, Bitcoin has been dominating the market, but it also decreased to $2,042 as of the moment of writing. No wonder investors are concerned of low prices – especially in reference to amateur investors who bought at a higher price.

Experts talk about three possible reasons for such price drops:

The Bitcoin Network may split in two

The network is beginning to split into those who support the change in protocol and those who stick to the current protocol. This split looks like it could result in massive Bitcoin devaluation.

Uncertainty regarding August 1st

August 1 will definitely be an important day for Bitcoin and other blockchain-based cryptocurrencies due to the looming Bitcoin hard fork.

An unregulated market

A great deal of the problem lies in the unregulated cryptocurrency market. Actions that that would put individuals in jail in stock market trading are completely unregulated and therefore legal in the world of cryptos.

No wonder traders manipulate the market to cash out. Add market manipulation to the panic that constantly arises among amateur investors once the price falls and you will understand the reason behind the current price fall.

As we step back and look at the blockchain market as a whole, not all the cryptocurrency and blockchain startups are meant to disrupt the financial system. Some certainly have the chance. Yet, the more mainstream the cryptocurrency market becomes the more market cap and prices grow. This is just the beginning.

Related posts

Dubai’s Chamber of Commerce Partners with Emirates NBD to Bolster Digital Silk Road Program

Viena Abdon

Bitcoin Rally Stalls at $10K But Dip-Buyers Should Watch These Levels

Sierra Sanders

Crypto Platform Coinbase Investigating Support for New Assets as Part of Its Expansion Plan

Viena Abdon

Despite Recent Crash, Cryptos are Still Bullish

Miles

Why All Eyes Should Be on the $9,000 Bitcoin Price Level This Week

Sierra Sanders

Cryptocurrency Market to Reach $5 Trillion Say Investment Legends

Hootie

Leave a Comment