Re: Do you think there is institutional manipulation of the Bitcoin price?
We have seen reports lately that the US Justice Department has opened a criminal probe into alleged price manipulation of
Bitcoin and other digital currencies. We have seen for months now that the Bitcoin price cannot get momentum and as soon
as there are positive signs that it is recovering, then it drops down again. In many of these instances there are no negative
news that would have triggered that downward spiral. There are also no Alt coins with significant growth during these times,
for us to say that these Alt coins are the trigger behind this. The only logical conclusion for this is that someone or a group of
people are "killing" the correction phase of the Bitcoin price.
Do you think there are some sinister agenda behind this or is this just Bitcoin whales doing their normal thing?
I find it unlikely that we are going through some kind of manipulation, I mean it can happen but there is no need for it, any investor that had any genuine interest in investing in bitcoin is not going to invest after what happened at the beginning of the year and the huge crash that we saw so the price of bitcoin cannot grow since there is not any influx of new money entering in this market.Bitcoin and other digital currencies. We have seen for months now that the Bitcoin price cannot get momentum and as soon
as there are positive signs that it is recovering, then it drops down again. In many of these instances there are no negative
news that would have triggered that downward spiral. There are also no Alt coins with significant growth during these times,
for us to say that these Alt coins are the trigger behind this. The only logical conclusion for this is that someone or a group of
people are "killing" the correction phase of the Bitcoin price.
Do you think there are some sinister agenda behind this or is this just Bitcoin whales doing their normal thing?