We saw blood today. And it could have been worse. Yes, it was possible that BTC could have been shorted straight into zero by the major BTC cartels.

The BTC ecosystem is anything but organic. Market sellers and buyers are mostly bots, wash traders, and insiders. There are whales that bought hundreds of thousands of BTC back when it was a dollar. 

And then there are the cartels. 

Enter BitMEX. This exchange is well known for gamblers who want to go long/short on the price of BTC or alt coins. Say what you want, but these trades are fundamentally just gambling. At its been seen over and over again, that should a significant amount of shorts be pilings, BTC will experience a sudden, random green candle that liquidates all those shorts straight into the pockets of BitMEX. The same will apply to longs. 

BitMEX has the capital to move the market in whatever direction it wants. It will deny this to the end of days, but its a fact and that fact only grows as BitMEX liquidates your positions daily. 

It's important to remember that as the organic volume dries up, what is left is just bot traders. And if the number one mover in that game is BitMEX and they are calling for liquidating longs by pushing onto a short, then that's what's going to happen. 

And that's what happened in the last 24 hours. 

BitMEX shorted BTC into the ground, and they had to put themselves offline to stop it, and let the organic volume pick back up, bringing BTC out from 4k back to 5k.

They could have, if they wanted to, sent BTC to zero. Today. This was a REAL possibility. 

At least, that's what this fella theorized on. I'll let you come to your own conclusions. But me? I believe it 100%