Cryptocurrencies

Bitcoin on June 17, 2020

Slight fall for Bitcoin (BTC) today, June 17, 2020: BTC is trading at $ 9,391 at the time of writing. Today’s news is about the rather tense exchange between Max Keizer and Vitalik Buterin, as well as a damning conclusion for BTC Whales manipulating exchanges, to drive up the price of Bitcoin.

Lively discussions between BTC and ETH

Mak Keizer tweeted today, where he says the co-founder ofEthereum ((ETH), Vitalik Buterin, did not understand how Bitcoin, nor its value proposition.

Buterin obviously responded to this attack, asking how Keizer did he come to such a conclusion?

Buterin recently criticized the Stock-to-Flow which places Bitcoin at 100,000 USD – not to mention his attacks on the Binance CEO, Changpeng Zhao.

The co-founder ofEthereum is however constructive by proposing the creation of a DEX to facilitate transactions between networks BTC and ETH.

Whale dance

The CEO of Encryptor, Ki Young Ju, who observed the latest price trend Bitcoin, June 16, 2020, concluded that the Whales BTC tend to spill Bitcoins in the markets, when the exchanges are calm, just to attract attention.

In yesterday’s tweet, Ki Young Ju explains that the more the network is used by exchanges, the higher the price of Bitcoin tends to go up. Whales BTC would therefore be well advised to do belly dancing, to move the markets.

The Whales would tend to discreetly accumulate Bitcoinsand then sell them making sure the transaction (s) are visible.

The unpredictable movements of Whalesremain one of the factors causing concern among traders and investors. Their price manipulation strategy can therefore play very well against them, if the fear of traders and investors reaches a critical level, causing a large liquidation on the markets.

Will Bitcoin and Ethereum eventually communicate? Interoperability between the blockchains of the two flagship cryptos, can only shed more light on the road to victory for cryptocurrencies in general. The BTC Whales, they would have found the combination to raise the price of Bitcoin. Maybe they should calm down because it rarely ends well when you have eyes bigger than your stomach, even for a whale.

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