Cryptocurrency Market Analyst Calls Bitcoin Growth Manipulative

One of the cryptocurrency experts, who posts on Twitter under the pseudonym Trader_J, spoke about why the growth of the flagship cryptocurrency can be regarded as whale speculation. In his opinion, bitcoin may collapse in the near future.

Trader_J shared a screenshot when a similar situation was seen in the market. At that point, BTC quickly went from $39,000 to $45,000 in mid-2022.

At that time, many investors and traders might have mistakenly thought that the cryptocurrency would continue to grow, but in reality it turned out that the founder of Terra (LUNA) Do Kwon bought large amounts of BTC. Subsequently, the flagship cryptocurrency fell first to $40,000, then to $29,000, and even later sank to $19,800.

The trader's words have a certain meaning, but he still received a lot of criticism from representatives of the cryptocurrency community. The analyst also said that his words do not claim the right to be called the truth in the first instance, and he can also end up wrong, but recalled that in the cryptocurrency world, you must always be vigilant and remember the risks that exist in the world of cryptography.

Trader_J said that the sharp pump from $17,000 to $23,000 looks too intimidating. In his opinion, this is nothing more than manipulation with a subsequent dump. Another point in the piggy bank of this theory is accrued due to the fact that large purchases of BTC were acquired exclusively at the expense of Binance's stablecoin, BUSD.