Bitcoin price took a surprising tumble after some inexplicable kerfluffle at BitMEX and traders are now wondering if the current rally has been compromised.
Strong Correction Breaks Bitcoin’s Parabolic Advance
Yesterday’s massive liquidation at BitMEX has the entire crypto-world up in arms and concerns about broken parabolas, fat fingers, wonky algos, and outright manipulation are setting every chatroom and journal on fire.
Despite all the chaos, one veteran trader isn’t the least bit worried, in fact, in an indirect way he appears to have predicted that something like this would happen.
$2,200 correction should prove to be swing trade buy pic.twitter.com/6IBjxgmIs8
— Peter Brandt (@PeterLBrandt) May 17, 2019
Veteran commodities trader and Bitcoin muse Peter Brandt recently tweet shouted a response to a Twitter user’s question about the state Bitcoin’s most recent parabola and according to Brandt it would break down and “morph into a lower sloped parabolic advance”.
While speaking to BlockTV at Consensus…