The steady collapse of the main cryptocurrency over several trading sessions has caused legitimate questions of market participants. Experts at Arcane Research, a leading research firm, believe that the sharp decline is the result of active market manipulation.
For four consecutive sessions, Bitcoin has been declining. On Thursday, September 26, cryptocurrency No. 1 continued to fall, losing 5% and dropping to $7,800 at the moment. Since the beginning of this week, the leading digital asset has fallen by an impressive 20%, analysts say.
Arcane Research highlights such important fact as the espionage of futures contracts for bitcoin. Experts believe that this is the cause of the downturn. According to their observations, from January 2018 to August 2019, the price of PTS was actively decreasing just before quarterly excesses. This was recorded in 75% of cases, that is, 15 out of 20. Arcane Research researchers emphasize that the asset's value has fallen by about 2.27% recently in the run-up to the exploitation of bitcoin futures contracts.
Most experts believe that in the near future the forecast for the price of PTS will remain "bear" as cryptographic currency No. 1 trades below the $9,100 level. Analysts see the Bakkt Bitcoin futures as the main reason for the bearish trend, which has become a catalyst for sales in the cryptocurrency market. However, many believe that the start of another investment instrument simply coincided with the collapse of the market. If anything, Bitcoin now needs support as never before since its decline may be delayed, experts warned.
Most experts believe that the forecast for the price of MTC will remain "bearish", while cryptocurrency No. 1 is trading below $9100 in the near future.
