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Sunday, April 23, 2023

Bitcoin is a manipulated commodity!

We haven't been discussing bitcoin for a long time and we will give an impromptu talk about it now.

In our perspective, Bitcoin is a manipulated commodity because its liquidity and retail activity are declining despite its skyrocketing prices.  What does this phenomenon mean? It means that many retail investors are staying away from bitcoin trading and leaving only some big whales to trade among themselves to prod up the prices.  Thus, the skyrocketing prices are unsustainable without the general public support.

The chart above shows that bitcoin liquidity has been trending down since 2021.
The chart above shows the declining retail activity and this means that retail investors are staying away.

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