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?
[/quote
We can see bitcoin crash right now as normal thing. We can not predict the market situation. The market is not stable. Whether we expect that bitcoin always higher but in this crypto world anything is possible. We must be ready and never panic.
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?
[/quote
We can see bitcoin crash right now as normal thing. We can not predict the market situation. The market is not stable. Whether we expect that bitcoin always higher but in this crypto world anything is possible. We must be ready and never panic.