I believe that the price increase is the result of the bankers and their controlling cartel deciding that they cannot stop Bitcoin, but they can make it unusable. They can do this by soaking up all the Bitcoin they can find, and not selling any of it.
How many times have we seen this conspiracy theory already?
First there were the Banks, after that the Chinese, the Governments, the Fed, we get a spike in the price, there is an evil organisation who is hoarding bitcoin.
So???
Let them hoard.
Limited supply, increase in price. I don't see a problem. They sell and then demand and offer kicks in and we see the real value.
And nobody is forcing you to sell when they do. On the contrary you can buy the dip and make more money.
The sheep will always panic when there is a red candle on the chart.
They will have to drive the price back to 250 to scare real hodlers.
Mostly, I agree. No one can actually control bitcoin. Even the government can't, no enough amount or revenue to affect the bitcoin market price as a general not unless all the government in the world decided to do this.
Another thing is that it's nonsense that they would manipulate it by dumping and buying because they will be be loosing their place when others starts to eat up during the dump.