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Horrific Crypto Market Crash Continues as Analyst Blames Clear Market and Exchange Manipulation
The crypto market is reeling from a devastating crash that has seen Bitcoin’s (BTC) price plummet to a low of $86,000, sparking heated debates and speculation about the cause. As the dust settles, renowned analyst Doctor Profit has come forward with a bold claim: he blames the ongoing crisis on clear market manipulation by exchanges and market makers.
In a scathing tweet, Doctor Profit lambasted the situation as an “obvious bear trap” orchestrated by those in power to manipulate the market. The respected crypto expert emphasized that these manipulators underestimate traders for only the weak-minded will succumb to FUD selling and give up on their assets.
The catastrophic downturn has led many investors to panic-sell, but Doctor Profit’s assertion suggests otherwise. According to him, this is not a genuine market correction, but rather an orchestrated event designed to shake out weak hands and bolster the position of these powerful entities.
This theory has sparked significant controversy within the crypto community, with some experts backing his claims while others have vehemently disagreed. Despite this, Doctor Profit’s stance remains unchanged, stating that there is irrefutable on-chain proof supporting his assertion.
Notably, long-term holders appear to be unfazed by the market turmoil, instead choosing to capitalize on the dip and accumulate more BTC. As reported by Ali, a prominent crypto chartist, these investors have amassed nearly 20,400 Bitcoin, underscoring their unwavering faith in the cryptocurrency’s prospects for the year.
Despite the precipitous decline, this accumulation suggests that some investors see the current market conditions as an unprecedented buying opportunity.
