So, as many of you are painfully aware, bitcoin crashed around 30% over a couple of days, reportedly due to regulatory pressures in Asia, and a potential ban in China due to energy wastage and tax evasion risks etc. Reports suggest that China contributes as much as 70% of the worldwide hashing power, and yet we only saw a 30% drop.
Source:
Report: PBoC Quashes Bitcoin Mining Ban Rumor in ChinaFurthermore, we saw 30%+ drops in other cryptos, even unminable, non-decentralized ones. So, conspiracy theorists, why do you think bitcoin
really suffers these sporadic crashes, could it be large-scale market manipulation? Or is it simply FUD leading to a wide-spread panic selling?
We could not assure that the main reason why bitcoin getting crash these few weeks, maybe it's because of china's down full from their miner and also banning in other countries just like Indonesia and South Korea. Or another reason it's being normal of bitcoin crashing down it because of being volatile it may fluctuated by itself high and low price movement. This is not first time crashing out with bitcoin then in this scenario now i did not surprised besides i keep holding on bitcoin.