Conspiracy theory behind the April 18 correction

[MrSpasybo]

The big correction has been going for 5 days, but the community is still finding its reason.

The world community is reading information about 2 main reasons why the crypto market has made a big correction in recent days:
+ Interruptions in Bitcoin mining in China;
+ Unconfirmed rumors on Twitter late Saturday night about impending charges from the U.S. government over crypto money laundering appear to have been the initial trigger.

However, I myself do not believe in these 2 reasons. I think all information is to validate market movements, meaning that information is born to make market volatility more reasonable.

The Vietnamese crypto community already knows that the second major correction will take place when BTC reaches around 66K. The April 18th correction took place after BTC reached $ 64,854, i.e. mere1.7% error. We learned this from at least 2 months ago through the sharing of a Vietnamese expert in the crypto field.
So we have the right to believe that correction is not by accident.

So what is the reason?

In my opinion, reason is whales wave!

I think whales want to legitimize the Altcoin season, siphoning more cash into the crypto market instead of continuing to push the BTC price making the market overheat.

Thus, in the time to come, we will likely see the following:
+ Altcoin price recovered and grew impressively while BTC price continued to be kept below 70K USD;
+ BTC.D continues to decline;
+ Market cap increased to 3.5T USSD, followed by 6T USD with a rebound to 90K USD of Bitcoin;
+ November might be where the huge correction takes place, or the start of winter.

What do you think about this conspiracy theory? Do you think the peak price that Bitcoin can reach in this bullrun is just 90K USD? Or do you expect the price of BTC to reach 200K-300K or even 650K USD?

[TomPluz]

When there is a big correction or a series of corrections and yet the market or the people could not decide the reasons for such a dump then most probably there are actually no reasons except that the market is just taking a breath from overheating. I don't understand why we still don't understand that cryptocurrency can go up and down for no reason at all. This is already an established pattern in cryptocurrency.

[Zed0X]

I don't want to dismiss any of the theories floating around because each of them could have contributed to the level of current market correction. It is expected that there will be pullbacks but has anyone really predicted below $50K? I didn't. If it was just a normal cooldown, support levels at $50K would not be broken.

~ I don't understand why we still don't understand that cryptocurrency can go up and down for no reason at all.

Everybody, except newbies, knows that crypto market is volatile. They find reasons just to satisfy their curiousity.

[Rt Kal]

Don’t want to dismiss any theory floating around because each of them can contribute to the current revision market level.  It would be expected to be a pullback but what if someone really predicted below $ 50K.  I do not.  If it’s just a simple colddown, the levels won’t break from the support of $ 50K.

[gurunanakji777]

Even Bitcoin was overbought so we expect this correction. It is well said what goes up must come down for the correction. We should not be panic in the meantime and remain calm and wait for the next move. In the current market buying can bring loss we must wait now But I must say FUD also plays a major role this time newbies easily trap in FUD and thus sell quickly its not only newbies when someone sees 10-20% drop in a single day he/she will definitely little bit panic but experience traders remain calm.

[Callisto]

Unfortunately, along with the bitkin correction, absolutely all altcoins rushed down the price tag. Many times I observe that their price depends on bitcoin and once again I am convinced of this. We are waiting for the end of the correction.

[MrSpasybo]

I don't want to dismiss any of the theories floating around because each of them could have contributed to the level of current market correction. It is expected that there will be pullbacks but has anyone really predicted below $50K? I didn't. If it was just a normal cooldown, support levels at $50K would not be broken.

~ I don't understand why we still don't understand that cryptocurrency can go up and down for no reason at all.

Everybody, except newbies, knows that crypto market is volatile. They find reasons just to satisfy their curiousity.

At least for now, I don't believe that the crypto market has truly gotten rid of whale manipulation. You can check the price chart of DOGE, BNB, ETH, ETH, LTC, NEO, XRP... to see how terrible they are. Movements of market sentiment have not changed so quickly, behind the growth is the whale's money to FOMO and draw more money into the market before taking profits in November this year.

[Fivestar4everMVP]

The market can't just continue to go up without some little gallops on the way, so let me just put it that this is like journey, the road is not always smooth, there are some areas you get to where you will have to slow down to pass through then continue at your previous speed if you so wish,.
It's just the same way for the market, people expect what ever that have started going up to continue to go up, and when ever a little correction sets in, they begin to look for reasons to attach to it, very funny.

For bitcoin prediction, I don't think bitcoin will go above $100k this year, I mean this is even if it gets to $100k at all, because if it gets to $100k usd before the winter sets in, I did be very happy with whatever money I've made in the process.

[Ferki]

Don’t want to dismiss any theory floating around because each of them can contribute to the current revision market level.  It would be expected to be a pullback but what if someone really predicted below $ 50K.  I do not.  If it’s just a simple colddown, the levels won’t break from the support of $ 50K.

Cheater

[tvplus006]

Unfortunately, along with the bitkin correction, absolutely all altcoins rushed down the price tag. Many times I observe that their price depends on bitcoin and once again I am convinced of this. We are waiting for the end of the correction.

The fact that the price of altcoins declined after the bitcoin dump is not surprising. It happens every time. But it often happens that after the price of BTC starts to increase rapidly, the price of altcoins decreases even more.

[Jaephoenix]

Considering your information, I have a question that is intriguing me. Are all corrections due to trending news or can they occur spontaneously during trades?

[Zed0X]

~
At least for now, I don't believe that the crypto market has truly gotten rid of whale manipulation. You can check the price chart of DOGE, BNB, ETH, ETH, LTC, NEO, XRP... to see how terrible they are. Movements of market sentiment have not changed so quickly, behind the growth is the whale's money to FOMO and draw more money into the market before taking profits in November this year.

Whales are always present especially in an unregulated market like cryptocurrencies. They are often one step ahead of the game and they take full advantage of any news/rumors be it negative (Government ban, new regulations, or mining interruptions) or positive (market adoptions by governments and traditional businesses, etc).

[Fenix]

If these arguments are correct, then, in general, whales play a positive role for a more harmonious development of the cryptocurrency market. If bitcoin continued to grow in value further, this would cause further price imbalance in the market, as well as form a negative attitude towards bitcoin on the part of states. If someone believes that states will only observe from the outside how bitcoin increases its financial weight, then such hopes are unlikely to come true.
Therefore, it will be better if capital is also proportionally invested in altcoins, which will fulfill a certain useful role in cryptocurrency.

[Freemind]

If these arguments are correct, then, in general, whales play a positive role for a more harmonious development of the cryptocurrency market. If bitcoin continued to grow in value further, this would cause further price imbalance in the market, as well as form a negative attitude towards bitcoin on the part of states. If someone believes that states will only observe from the outside how bitcoin increases its financial weight, then such hopes are unlikely to come true.
Therefore, it will be better if capital is also proportionally invested in altcoins, which will fulfill a certain useful role in cryptocurrency.

Whales always play a positive role, but for themselves . It all depends solely on what the whales want to do at that moment, if they want to buy low they sell and create panic, if they want to sell high they do not sell and Bitcoin rises in price when there is more demand. It's as simple as that.

[Senin]

If these arguments are correct, then, in general, whales play a positive role for a more harmonious development of the cryptocurrency market. If bitcoin continued to grow in value further, this would cause further price imbalance in the market, as well as form a negative attitude towards bitcoin on the part of states. If someone believes that states will only observe from the outside how bitcoin increases its financial weight, then such hopes are unlikely to come true.
Therefore, it will be better if capital is also proportionally invested in altcoins, which will fulfill a certain useful role in cryptocurrency.

Whales always play a positive role, but for themselves . It all depends solely on what the whales want to do at that moment, if they want to buy low they sell and create panic, if they want to sell high they do not sell and Bitcoin rises in price when there is more demand. It's as simple as that.

The whales do not let the market stagnate and this is not bad for traders. True, it is sometimes difficult to predict where the price of a cryptocurrency may turn in the next moment. Of course, whales are guided by their own interests. However, they do not allow the market to rise and fall strongly. Basically, they make money from the fear of people, as well as from their greed.