{"id":463877,"date":"2021-05-14T18:39:27","date_gmt":"2021-05-14T18:39:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=463877"},"modified":"2024-06-11T13:55:46","modified_gmt":"2024-06-11T13:55:46","slug":"bitcoin-crash-this-4-theories-beware","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/","title":{"rendered":"Was Bitcoin Crash Orchestrated? These 4 Theories Scream Beware"},"content":{"rendered":"<p>With so<a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bear-phase-fractal-warns-of-pain-bitcoin-bull-market-to-remain-unbroken\/\" target=\"_blank\" rel=\"noopener \"> much FUD floating the Bitcoin and crypto market<\/a>, many have wonder if the recent price action was the result of a \u201ccoordinated attack\u201d. \u00a0Writer Rob O\u2019Neill believes there are 4 potential main theories that could possibly explain recent events with institutions and \u201cthe ultra-rich\u201d as the main catalyzers.<\/p>\n<p>O\u2019Neill claims these entities feel they \u201cmissed out\u201d on the early days of cryptocurrencies and <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/microstrategy-discloses-a-15m-bitcoin-purchase\/\" target=\"_blank\" rel=\"noopener \">BTC<\/a>. Thus, they are looking to gain more control over the space as they acknowledge that cryptocurrencies are here to stay. The new wealth created by BTC could be a threat against the establishment. O\u2019Neill <a href=\"https:\/\/twitter.com\/iamRobONeill\/status\/14483717\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a>:<\/p>\n<blockquote><p>(\u2026) prediction 1. Over the next few years there will be numerous repeat efforts to crash crypto markets. These will be coordinated, and institutions + wealthy people will buy enormous amounts on the dips. We just saw one of these happen.<\/p><\/blockquote>\n<p>At this point, these institutions and wealthy could try to increase their crypto holdings for every major project, such as Bitcoin and <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>. In addition, they could receive government backing in exchange for the protection of fiat currencies. O\u2019Neill said:<\/p>\n<blockquote><p>Prediction 2. Government will be used to strong arm &amp; scam retail in order to advantage institutions &amp; prevent retail from creating serious wealth. There will be taxes, coin seizures, and numerous regulations that inhibit retail from profiting &amp; gatekeep on\/off ramps.<\/p><\/blockquote>\n<h2>Bitcoin\u2019s Proof-Of-Work Under Attack?<\/h2>\n<p>The third prediction involves centralized exchanges and platforms with Know-Your-Customer (KYC) policies. In the past year, regulations have been proposed in the U.S. to try to obtain more information from these platforms and the so-called \u201ccovert wallets\u201d.<\/p>\n<p>Non have been approved so far and have received a push back from the crypto community. However, O\u2019Neill said:<\/p>\n<blockquote><p>If you have coins on exchanges, especially KyC ones, you need to seriously consider this. They will tie names to wallet addresses &amp; all the sovereignty of crypto will disappear&#8230; Unless you are smart &amp; anon.<\/p><\/blockquote>\n<p>Another potential epicenter for an attack could be Bitcoin Proof-of-Work (PoW) consensus protocol. O\u2019Neill believes narratives could be placed on energy consumption, e-waste, and other anti-environment arguments that could turn the public towards <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/463717\/\" target=\"_blank\" rel=\"noopener \">Proof-of-Stake-based projects.<\/a> This could be \u201ceasier\u201d to control by seizing a large amount of a cryptocurrency&#8217;s total supply.<\/p>\n<blockquote><p>In the end, I don\u2019t know what will happen and I can\u2019t tell the future. This is simply my analysis of what I think are the obvious plays against crypto from the \u201celite\u201d and the kind of outcomes they will be looking for. Will they succeed? That depends. I think we\u2019ll see a mix&#8230;<\/p><\/blockquote>\n<p>At the time of writing, <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-nosedives-10k\/\" target=\"_blank\" rel=\"noopener \">BTC trades<\/a> at $56,670 with 4.5% profits in the daily chart. Higher timeframes remain at a loss after this week\u2019s crash.<\/p>\n<figure id=\"attachment_463882\" aria-describedby=\"caption-attachment-463882\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-463882 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/bitcoin-btcusd.png?resize=860%2C424\" alt=\"bitcoin btcusd\" width=\"860\" height=\"424\"><figcaption id=\"caption-attachment-463882\" class=\"wp-caption-text\">BTC with signs of recovery in the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>With so much FUD floating the Bitcoin and crypto market, many have wonder if the recent price action was the result of a \u201ccoordinated attack\u201d. \u00a0Writer Rob O\u2019Neill believes there are 4 potential main theories that could possibly explain recent events with institutions and \u201cthe ultra-rich\u201d as the main catalyzers. O\u2019Neill claims these entities feel they \u201cmissed out\u201d on the early days of cryptocurrencies and BTC. Thus, they are looking to gain more control over the space as they acknowledge that cryptocurrencies are here to stay. The new wealth created by BTC could be a threat against the establishment. O\u2019Neill said: (\u2026) prediction 1. Over the next few years there will be numerous repeat efforts to crash crypto markets. These will be coordinated, and institutions + wealthy people will buy enormous amounts on the dips. We just saw one of these happen. At this point, these institutions and wealthy could try to increase their crypto holdings for every major project, such as Bitcoin and Ethereum. In addition, they could receive government backing in exchange for the protection of fiat currencies. O\u2019Neill said: Prediction 2. Government will be used to strong arm &amp; scam retail in order to advantage institutions &amp; prevent retail from creating serious wealth. There will be taxes, coin seizures, and numerous regulations that inhibit retail from profiting &amp; gatekeep on\/off ramps. Bitcoin\u2019s Proof-Of-Work Under Attack? The third prediction involves centralized exchanges and platforms with Know-Your-Customer (KYC) policies. In the past year, regulations have been proposed in the U.S. to try to obtain more information from these platforms and the so-called \u201ccovert wallets\u201d. Non have been approved so far and have received a push back from the crypto community. However, O\u2019Neill said: If you have coins on exchanges, especially KyC ones, you need to seriously consider this. They will tie names to wallet addresses &amp; all the sovereignty of crypto will disappear&#8230; Unless you are smart &amp; anon. Another potential epicenter for an attack could be Bitcoin Proof-of-Work (PoW) consensus protocol. O\u2019Neill believes narratives could be placed on energy consumption, e-waste, and other anti-environment arguments that could turn the public towards Proof-of-Stake-based projects. This could be \u201ceasier\u201d to control by seizing a large amount of a cryptocurrency&#8217;s total supply. In the end, I don\u2019t know what will happen and I can\u2019t tell the future. This is simply my analysis of what I think are the obvious plays against crypto from the \u201celite\u201d and the kind of outcomes they will be looking for. Will they succeed? That depends. I think we\u2019ll see a mix&#8230; At the time of writing, BTC trades at $56,670 with 4.5% profits in the daily chart. Higher timeframes remain at a loss after this week\u2019s crash.<\/p>\n","protected":false},"author":535,"featured_media":463878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-463877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Was Bitcoin Crash Orchestrated? These 4 Theories Scream Beware<\/title>\n<meta name=\"description\" content=\"With so much FUD floating the Bitcoin and crypto market, many have wonder if the recent price action was the result of a \u201ccoordinated attack\u201d. \u00a0Writer Rob\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Was Bitcoin Crash Orchestrated? These 4 Theories Scream Beware\" \/>\n<meta property=\"og:description\" content=\"With so much FUD floating the Bitcoin and crypto market, many have wonder if the recent price action was the result of a \u201ccoordinated attack\u201d. \u00a0Writer Rob\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-14T18:39:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:55:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Bitcoin-BTC-BTCUSD-13.jpg?fit=877%2C583\" \/>\n\t<meta property=\"og:image:width\" content=\"877\" \/>\n\t<meta property=\"og:image:height\" content=\"583\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Reynaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rl_m\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reynaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/\"},\"author\":{\"name\":\"Reynaldo Marquez\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\"},\"headline\":\"Was Bitcoin Crash Orchestrated? 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Was Bitcoin Crash Orchestrated? These 4 Theories Scream Beware","description":"With so much FUD floating the Bitcoin and crypto market, many have wonder if the recent price action was the result of a \u201ccoordinated attack\u201d. \u00a0Writer Rob","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/bitcoin-crash-this-4-theories-beware\/","og_locale":"en_US","og_type":"article","og_title":"Was Bitcoin Crash Orchestrated? 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Was Bitcoin Crash Orchestrated? 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