What’s the deal with Bitcoin and Crypto this month (September 2018)?

The price of cryptocurrencies took a serious dive after the manipulation game started to get even stronger. No wonder why the U.S. Securities and Exchange Commission turns down Bitcoin-backed ETFs citing "Manipulation" as the number one issue.

The crypto community managed to blame a lot of factors that influenced the recent dump, one of the main being that someone made a $74 million short on bitcoin right before the drop. Rumors has it, that the unidentified investor had insider information about Goldman Sach's notice to halt its decision to create a Bitcoin trading desk.

Goldman is ditching its Bitcoin trading plans: sources tell that they are continuing to put off trading actual Bitcoin, but they are still moving ahead with trading crypto futures and forwards for clients.

The investor took out a 10,000 BTC short last Sunday, roughly equalling $74 million at the time. This short brought the total market short positions on BTC up to 32,000 BTC, which has since surged to more than 37,500 BTC during the recent downturn.

While there are no hard evidence to demonstrate that this was an inside trading tip, actions related to the facts, state the obvious.

Adding even more fuel to the fire, Shapeshift, a popular platform for instantaneous Bitcoin exchange, will introduce obligatory memberships where users will provide their personal data.

"ShapeShift has big news for our users! We are now offering a new membership program, which will provide users with more benefits & better user experience," the official announcement says.

Even ShapeShift's CEO Erik Voorhees admits, that the compulsory registration is a painful measure, dictated by the unclear regulatory landscape.

This indeed turns out to be a manipulation game where recent stats from Bitmex showed massive liquidation from the Longs side, roughly about $693 million.

Good luck in your trading and/or investing!!

I wanted to quickly call out my favorite Cryptocurrency Trading Bot called Cryptohopper. This bot allows you automate your trading and/or investing based on several strategies.

I’ve been using the bot now for many months and will continue to do so. If you’re not familiar with Cryptohopper, checkout a write-up I did on it HERE. Also, if you want an in-depth user manual on how to setup and configure the Cryptohopper bot, I’ve written a 40-page user manual you can download HERE.

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