- Analysts compare current market conditions to the period before the Terra crash.
- Trader_J says the BUSD stablecoin is being used to revitalize the Bitcoin market.
- Analysts describe the situation as frightening as prices could plummet.
Twitter’s Trader_J, a highly respected Bitcoin analyst, has sounded alarm bells about current trends in the flagship cryptocurrency. He considered some historical data suggesting an imminent crash in market prices may be possible following the recent rally.
In a Twitter post, Trader_J shared a screenshot of a similar trend in mid-2022. During this period, the price of Bitcoin skyrocketed, rising from $38,000 to $48,000 in a short period of time. This surge was followed by a significant drop in Bitcoin’s price, reaching below its recent low of $20,000.
Do Kwon bought $BTC last March. That market went from he’s $38,000 to he’s $48,000. The entire pump was operated. Now the market has completely pushed him from 17K to 23K.
A post Bitcoin analysts suspect of ongoing price manipulation first appeared in Coin Edition.
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