No Bitcoin Manipulation: Analyst protect 2020 Price Surge of 57%
By Jamie Green – Crypto Expert
As the crypto industry anticipates the upcoming halving, people who buy and sell cryptocurrency are weighing in with their opinion. There are many expectations about what the halving will introduce for Bitcoin, some believe this is already priced in, while others are anticipating a strong bullish price movement for the top coin.
Though analysts speculate over the price movement, many believe Bitcoin has been, to an extent, manipulated. A recent post from famous crypto investigator Joseph Young exposes this thought, protecting Bitcoin's natural development.
Young elaborates that in 2020 alone, Bitcoin has risen by roughly 57%, hopping above $10,000 from beneath $7,000. Many individuals think the spike in price is unnatural.
Spot Volume Surge
Throughout the previous three months, the world's most reputable exchanges have documented a significant increase in their trading volumes. As per Young, Binance's Bitcoin/USDT pair bounced by about 94% over three weeks starting from the end of December 2019. The trade's recorded spot volume spiked from 241,000 BTC to 468,000 BTC as people wanted to buy and sell Bitcoin and people significantly increasing Bitcoin trading volumes.
Young says that the direction was displayed through spot trades on exchange and believes it to be enough evidence to dismiss any doubts about margin trading platforms. This is because if you assume margin trading platforms to be susceptible to manipulation, this would not justify the surge in spot trading accounts.
Furthermore, Bitcoin prospects on the CME stage recorded another high of $1.1 billion.