Why is Bitcoin price down? - Bitmax fraud controversy
As soon as we wrote our Bitcoin price briefing this morning, the 7,800 lines collapsed a little in just a few hours, down to 7784, and are now traded on the 7890 line. Let's write a little bit about Bitmax, which some people say is the reason for the drop in Bitcoin.
To make it easy to say that Bitmax fraudulent, you've seen how to temporarily deny funding and transactions by giving advantage to the business insiders and some minorities.
There are three issues to this suspicion.
- Deny additional APIs (multiple momentary transactions)
- According to deribit, the options available to internal traders are five to ten times as large as existing traders. Can liquidation prices be adjusted? In addition, the market price of Bitmax is always different from that of the existing market.
- These three suspicions have been raised over the Bitmax transaction, with overseas responses as follows :
Most of the time, it is a reaction that is expected to be compared to X. The inflation of the punding force has been expected to some extent, but we can't say anything about it because it's not under the control of the CFTC.
In fact, in our stock market, we do not allow the public to buy and open only to foreigners and institutions.
The only way that you can make money in the up-down market is with this unfair structure.
Whenever the price of Bitcoin went down, we looked for a reason for the decline. However, the time when the article was posted was yesterday, May 22, in Korean time. So it's kind of a little bit of a bit short of being described by today's decline.
If you tell them why it's going down, they can even name a dozen.
Even if the reason for the drop spreads in an instant, there is reasonable doubt that the " short-position " would have been created by those who wanted to benefit.