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?
Yes, bitcoin do crush but saying this happens occasionally, well somehow. It is almost an obvious given scenario and statement about bitcoin. But knowing how it works could take hard time since it has a lot of factor.Maybe what you have said could be a hint for now.