Bitcoin (BTC) Set To Hit $7, 500 This Month Amid Rumors Of A Bitcoin Price Manipulation

Bitcoin price prediction 2019 has been positive since the beginning of the year. For the last two weeks, it has been surging higher and higher against the USD. For the first time since November, Bitcoin crossed the $5,000 level. Other cryptocurrencies in the market followed suit and started rising against the USD as well. The entire cryptocurrency trading volume also reached a 5-month high at $185 yesterday. Things are looking up and the price of Bitcoin is expected to keep skyrocketing. Due to the surge in price, there have even been rumors about a Bitcoin price manipulation. According to a recent Bitcoin news on Ethereum World News, BTC is expected to hit $7500 soon before a downside correction follows.

Bitcoin News Today – Bitcoin Price Manipulation – Bitcoin Price Forecast – Bitcoin to Hit $7500 And Slide Back To $4000

According to the cryptocurrency analyst, CryptoHamsterIO on Twitter, the Fibonacci retracement level is unsteady and it is suggests that the price of Bitcoin will hit $7,500 during the current bull rally. Whether or not a background Bitcoin price manipulation going on, the price of Bitcoin is going to move higher short-term. In the analyst’s words;

“If history rhymes and Fibonacci retracement is a real thing, bitcoin will rise to $7.5k and then will have a massive correction to $4.3k. That will be the last attempt of bears to come back.🔥🔥🔥#bitcoin $BTC $BTC USD.”

If the price of Bitcoin moves as high as $7,500 short-term, the bears will try to comeback one last time and this, according to the analyst, will bring the Bitcoin price as low as $4,300. His Bitcoin price analysis should not be ignored or taken for granted because they are based on the movement of the Fibonacci retracement levels of Bitcoin. Fibonacci retracement has been used for Bitcoin price prediction for many years and it is always accurate. He said that currently, the key support levels are at $23.6%, and $38.2% while the key resistance is at the 61.8% Fib retracement level of Bitcoin. Historically, the Fib retracement has been accurate in predicting the future price of Bitcoin. So, it’s not something to be ignored.

Bitcoin News Today – Bitcoin Price Manipulation And The Current Price Of BTC

The Bitcoin price manipulation rumor isn’t something new. When the price of Bitcoin hit its all-time high near $20,000 in the 2017/2018 bull run, many people suggested that the price of Bitcoin was being manipulated by big exchanges using Tether (USDT). Investigations on the price manipulation of Bitcoin started but there was no evidence to support the accusation.

Some people within the cryptocurrency space are suggesting that the current price of Bitcoin is being manipulated by whales and exchanges. However, there is no prove of this yet. Price manipulation or not, Bitcoin is rising and traders and enjoying the ride. At the time of writing, BTC was trading at $5,210.88. This means that it is up by 1.05% against the USD. The Bitcoin trading volume is $17,400,825,761 and the market capitalization is $91,890,711,278.

Bitcoin (BTC) Price Today – BTC / USD

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What do you think about the Bitcoin news today? Is there a Bitcoin price manipulation going on in the background? Do you think the $7500 to $4300 Bitcoin price prediction will happen? Share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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