Plus Token Is Liquidating Thousand of Bitcoin Presuming Exit Scam | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
According to an announcement made on Twitter by venture capitalist Dovey Wan on August 14, 2019, the recent dump in bitcoin price is due to a mass liquidation of 200 thousand BTC by collapsed China-based Ponzi scheme PLUS Token.
The Big Scam
In the last 72 hours, the price of bitcoin has taken a big hit down that pushed it for the fourth time to go below $ 10,000 dollars, even though at the time of writing BTC has already recovered and trades around $10,300 dollars. These price swings are quite common in the cryptocurrency market as a direct result of the immature and unregulated nature of the market itself. Many people think that these moves are the result of market manipulation organized by the big players known as “whales.”
However, this time, market manipulation may have nothing to do with the recent fall in prices.
According to a theory elaborated by venture capitalist Dovey Wan, founding partner at Primitive Crypto, the recent fall in prices would be due to the liquidation of a substantial sum of bitcoin by Chinese Ponzi scam PLUS Token.
I mentioned it briefly in my last Coindesk oped but worth additional attention as it may cause further sells pic.twitter.com/uIjgrzwHET
— Dovey Wan 🗝 🦖 (@DoveyWan) August 14,