A group of traders suggest that Bitcoin’s $20K high in December 2107 was shattered by market manipulation via futures trading. Interestingly, the decline occurred on the same day that BTC future exchanges opened. This could easily be accomplished by institutional investors and retails traders with substantial capital through large, coordinated buy and sell orders of BTC. This theory could also account for the two subsequence market corrections of BTC shown in the graphic below. If true, this would explain why the currency collapsed and has struggled to return to its all-time high.
