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 China
Furthermore, 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?
In my opinion its easy to say that when people are greedy and buying bitcoin which drive the price upwards, then it will be the best time for the whales to gaining profits. We've seen a huge increase of bitcoin in a few months and its just a normal investment advice that when people become greedy, then we should avoid it. And people start to feel insecure and FUD began entering the market pshycology, then its the time to entry and looking for cheap coins. Basically regulatory pressures are normal thing when people start to acknowledge something, some will try to take benefit of it or even try to control it. Source: Report: PBoC Quashes Bitcoin Mining Ban Rumor in China
Furthermore, 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?
