Okay! before someone comes forward, no, it was not! Maybe you are right. But hear me out first. I say that the Bitcoin crash was planned not because of my intuition but because of a thread that has been going viral on the internet. It is definitely possible that it was a coincidence, but the kind of details the thread has is not expected to be present in some random articles or tweets. Jacob Canfield shared this thread on Twitter.
Posted last night at 10pm by an "insider" about dumping #bitcoin on coordinated FUD to liquidate a stakeholder.
Fucking wild. pic.twitter.com/25c2tUse7L
— Jacob Canfield (@JacobCanfield) May 19, 2021
Was the Bitcoin crash planned?
The kind of dumping that happened on 19th May made me think beforehand that this is the job of whales. But the problem is there was no kind of support to the theory. But on the next day, I saw a tweet made before the time of the crash that had minute details of how everything is going to go down. The tweet had an image that read that BTC is going to push as low as possible. This will be to liquidate on a particular stakeholder and leave him bankrupted.
It also said about the China news and the FUD being spread in order to get people to sell. These movements are simply to take holdings from weaker to strong hands. The plan was to push Bitcoin below $30k, and that did happen, and the recovery was super fast. At this time, Justin Sun, who was the guy they reportedly planned to liquidate, bought 4145 Bitcoins at an average price of $36,868. He also purchased 54,153 Ethereum coins at an average price of $2,509.
What should you learn about this?
We all know that the future of Bitcoin is bright, and it is also very scarce. Due to this, it is to be expected that rich people and those who have the power to influence the market will do anything in their ability to get your coins in their hands. And that can be easily prevented just by holding on to your Bitcoin through every up and down and even buy the dip if possible. HODLING is the key to long-term gains, and you might be in red for a short while, but the gains will follow soon.
What are your thoughts on the price movement of Bitcoin in the last couple of days? And do you think that the Bitcoin crash was planned? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
Also Read: Bitcoin dumps to $29k as markets collapse under critical news
