Quote from: RoommateAgreement on July 12, 2017, 04:21:52 AM

if it was a Willy bot then price would have been rising still!
the only reason why price stopped rising back in 2013 was because Mt Gox stopped woking and they scammed and ran away. otherwise it kept pumping it for longer.

we are not in a bubble either. the bubble stopped at $2900 and was corrected when it fell down to $2100 and recovered to a stable price of $2400-2500. this is only because of BIP148 split panic

Willy Bot didn't just work in one direction, during the last days at Mt Gox, Willy Bot was reversed to dump coins into the market to generate liquidity of Mt Gox and Bitcoin price crashed due to that, ultimately Willy Bot failed to generate sufficient funds and Mt Gox had no choice but to file for bankruptcy.

What I mean is bots like Willy can be engineered to dump coins into the market and once the Bitcoin price falls the person behind it can buy lots of coins and then activate the bot to pump the market, sell coins, make the profit.

The bubble that you talk about could have been created by a bot by buying loads of coins without spending any real fiat money and since there is not enough liquidity in the market to justify such high Bitcoin price, the result is what you call price correction.

Logically, the people who hold most number of Bitcoins are experienced investors and I don't see too many experienced investors selling off their positions as yet. I find it hard to digest that newbies are having so much coins with them that they are effectively crashing the entire Bitcoin market with their actions.