Every time I see someone refer to a rally as a "pump", it makes me want to grit my teeth.
Pump and dump is a fraudulent stock market manipulation technique. It has nothing to do with Bitcoin.
To be fair the move in December from $700 to over $1000 was a pump.
Pumped by whom? A pump is an action by inside manipulators trying to lure in victims for the purpose of dumping at the top and sending the price back down.
I see no such intent. The December rally was spurred by capital controls in China and India. The January dip was caused by panicky over-reaction to rumors of a PBOC crackdown.
It was not any kind of pump-and-dump scam.
Stop using that word 'pump', please. These are market fluctuations, and what we're seeing isn't the result of a concerted effort by Chinese gamblers, buyers, sellers, or anyone else. The market just ends up doing what it always does, which is moving up and down.
Exactly. Thank you for the voice of reason.