We all know how Mt Gox manipulated bitcoin price by creating "Willy Bot". I'm wondering what stops others from doing the same? I mean anyone with enough resources can easily develop such bots and manipulate the market as per their need.
Right now bitcoin price is dropping and everyone thinks it's due to the fear of what might unfold on August 1. Is it not possible that some whales might be using this situation as a cover up to manipulate the market yet again?
I doubt this is the case. We were in a bubble. The price rose exponentially in a short time period of a few months - whenever that happens, a crash is inevitable. I thought the price would peak well over $3,000 around $3,500-4,000 however it obviously isn't the case. We are now headed for a long period of decline, not unsimilar to 2014-2017, but eventually the price will go back up and surpass $10,000. I predict this will happen within 5 years.