zycrypto.com
Many crypto market pundits are sure that the Bitcoin price will skyrocket sometime after the halving, they claim six months to two years for Bitcoin to soar past a new all-time high price. However, in reaction to the recent price drop, Gold bug, and Bitcoin-hater, Peter Schiff uncovers the possible whale’s inner sentiment.
The large traders who bought in anticipation of the Bitcoin Halving event are already cashing out, Peter Schiff claims. Per his Tweet, by the time of Halving, many market players would have already sold.
The power of Bitcoin is so strong that even Bitcoin haters are glued to its every price movement. 😂 https://t.co/j8pHZRulSA
— Willy Woo (@woonomic) May 10, 2020
Notwithstanding, Peter is sure that more sellers will erode the event, causing the price to lose power.
However, it is very hard to determine who is right, because no one has the ability to prognosticate expectations. When it comes to the future of Bitcoin, any forecast should be taken with extreme caution.
Changpeng Zhao, CEO of Binance has maintained that Peter is having fewer chances to tweet negatively about Bitcoin. Per the Binance head, the gold bug is ‘best counter advertiser’, still.
Confession 2: not sure about you, but part of me finds Peter's sourness very satisfying. 😂
— CZ Binance 🔶🔶🔶 (@cz_binance) May 10, 2020
He can't stop tweeting about #bitcoin, and only has a few chances to tweet on retraces. Poor guy, but best counter advertiser. https://t.co/79sAfGLhhC pic.twitter.com/LwP4nljgTW
Nouriel Roubini Calls Bitcoin a “Total Scam”
Famous Bitcoin critic Nouriel Roubini is sounding off with a very negative viewpoint. Nouriel asserts that Bitcoin is totally manipulated and controlled by whales, citing Bitcoin’s recent 15% plunge, and reiterating that it’s a ‘total scam’.
Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don't have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!
— Nouriel Roubini (@Nouriel) May 10, 2020
False Volumes On Crypto Exchanges
False volumes can be perpetrated by crypto exchanges sending bitcoins to own hot wallets to pretend there’s liquidity. They enable market bots to emulate buy and sell orders. And they presumably do all that to fake up to 90% of the activity reports. Such a blatant deception could have crashed the market if turns true. However, there are too many reports claiming Bitcoin exchanges are above the lowest standards.
Thanks to the jurisdiction matters, not every crypto exchange can pass an audit or invite users to their office. Every year, there’s always news of a crypto exchange getting hacked, bankrupt, or suffer from inside jobs like data leaks.
Until the regulators and auditors come in, we never know whether Roubini’s reasoning has price changing power. Because as of now, traders are in the game despite several great risks, including the possible stablecoins crash, altcoins crash, Bitcoin price crash, COVID-19 threat burst, and so on.