It looks like a whale is manipulating Bitcoin. He or they are driving down the price of BTC with large sell orders. When they do this they REKT the longs and make profits on the way down. The same manipulators will buy back the BTC at its lowest price and ride profits back up. It looks like they make a fast $80 to $100 Million Dollars when they do this. The whale or group have pulled this stunt several times this spring.
The only real way for this whale to do this is to have connections with one or more crypto exchanges. Yes, hanky panky is going on. This is an inside job. The ones who get hurt the most is the small day trader. Day traders are getting REKT. The whale is stealing millions of dollars each month or two.
The best way to keep from being robbed is to HODL. In the long term, Bitcoin and other quality coins will do very well. Think of holding for two to five years or longer. If HODLing is your strategy, do not look at the prices of crypto every day. Just relax and look at pricing once a month. This works. I never get stressed out and if you look at dollar cost averaging, you never lose.
image from: coincentral.com
Agreed!