The smashdowns come from shorters that sell heavily into any price rises. The market won't go up significantly until they are sure the bear market is over. They've been getting burned lately as many of the whales whose coattails they rode all year have covered and are now waiting. Slowly but surely they will begin to turn bull, either by stupidly continuing to short after a huge capitulation and 85% price decrease and losing all their gains from the way down, or by realizing that they are now in the minority and go long.
the bears have the 3600 coins mining inflation on their side. maybe bitcoin did not move from the snb news because no one thinks of bitcoin as a safe place to put money. pm's does not have these problems. it doesnt matter how much they smash pm's down people will buy them and buy more as they get cheaper. that is why central banks have to smash the pm's down because left un-manipulated we would have 2000+ gold and 100+ silver by now. problem is as they become cheaper people buy more of them and they start to have shortages. on the other hand if an economic crisis is incoming along with bail-ins and currency conversions then everyone had ample time to buy pm's (and in this case bitcoins) . it seems we will be stuck in this bear rut until the 2016 reward halving .. still HODLing though .
it's just that the smash downs to lower levels and then trade sideways for weeks smells like the same thing happening in the pms. and when we went to 450 and that was immediately smashed back down to 300 where it was capped and traded sideways again until this most recent smash down to 200 where again it appears to be capped and is trading sideways again is exactly the same we been seeing in the pm smash down's manipulation. it is still up in the air whether it is a good thing or bad thing. low prices great for buying opportunities but if we compare to pms then we could see this shiat could last literally for years. the us govy doesnt want anyone in anything other than usd which is why i starting to suspect something more than just inflation and polar bears.