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A theory about the recent crypto market dip has emerged, according to several crypto influencers, it is related to the arrest of WikiLeaks' founder, Julian Assange.
An interesting theory on the recent sudden dip of the crypto market is postulated by crypto YouTubers, Mr. Kristoff and That Martini Guy.
In 2 videos, both analyzed the market dip timeline and compared it side-by-side with the arrest of WikiLeaks’ founder, Julian Assange.
On top of that, both analyzed and tracked the activities of WikiLeaks’ Bitcoin address, which Assange’s supporters are sending their donations to at the moment.
With 4,042 Bitcoins possession, which is about $20 million with current rate, any moves made by Assange’s team must have had an impact to Bitcoin price, more than just a ripple, which eventually affect the entire crypto market, so they believe.
Their analysis revealed that almost coinciding with the breaking news of Assange’s being taken forcefully by British authorities from the Ecuadorian embassy, the crypto market dipped. Moreover, both influencers suspected that Assange is also behind the market pump happened a couple of days ago.
The Martini Guy also showed that Assange’s wallet has been washed and that the balance shown is those coming from Assange’s supporters, which is only 28 Bitcoins as of the video reporting time.
Read more: Bitcoin donations flowing in after Julian Assange's arrest
So, where has all the 4,000 something BTC gone?
They suggested that Assange or whoever holds the control to his Bitcoin wallet set up shorts via leverage trading and successfully made a profit through a series of sell-offs on BitFinex, which they said to be about $2 million in just a short period of time.
Further analysis on where the funds have gone also revealed a BTC wallet address, which they expected to belong to Assange’s lawyers.
“With Julian Assange getting arrested it makes a lot of sense they needed to sell there BTC in order to pay for the massive legal fight ahead,” said The Martini Guy.
He added further, “I’m not saying for one second that Julian Assange liquidated the entire stack. What I’m saying is, he leveraged it down, he market bought. It’s quite clear from what we have seen that the money that he’s transferred out of the WikiLeaks’ wallet is in the BitFinex’s wallet. And so, he’s obviously been shorting.”
The good thing about the theory, if it’s true, is that it would mean the dip might be short-lived. It has a huge potential to rebound anytime soon, especially if the market sees this as an opportunity to purchase Bitcoin at a cheaper price.
That said, there’s always a chance for the market to have those panicking investors, who decide to sell their possessions, which in turn would bring the price even lower, as reported by The New Paper.
How will the market react? As always, stick with Chepicap to find out.