Everybody knows that bitcoins 6k support is a crucial one for it's future. If we drop below it we can say bye bye to bitcoin and we can find something else to do. BUT, you have to remember that the crypto market is a billion dollar industry and we already have brokers like bitmex, okex who are already manipulating the markets as they see fit to profit from us. Why am I still being positive about bitcoin? Everybody is starting to lose hope in crypto and considers selling it if it drops below 6k. Now think from the brokers perspective, you know where people will sell their assets, and you know that as bitcoins price goes lower, so will the people holding bitcoin. It is not profitable for them to let bitcoin vanish, but rather, they will let bitcoin go a little bit lower to increase the number of people willing to sell, and they will pump the price up by themselves so that bitcoin would go back to it's usual trend and motivate people to buy again. And in the end, they will have taken every sellers BITCOINS and will have BITCOIN make another big bullish rally, increase their overall value by numerous times. This is how brokers make money from retail traders.
This isn't trading advice, this is just me mentioning of a potential movement that can happen.
Happy trading.
This isn't trading advice, this is just me mentioning of a potential movement that can happen.
Happy trading.
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