Bitcoin fell $1500 in a matter of hours, from 9k to 7.5k, once more proving the market is manipulated by few actors, and adoption will be hard due to it.

If we have another correction like that, it will just prove, one more time, the need to control the exchanges.

Recently I read a discussion in reddit about suppressing Satoshi's wallet. Its a constant source of FUD, we know, but it is his private property, so Im against such kind of action, it would undermine the trust people have in bitcoin. There are other whales with similar quantities, should we suppress their wallets too? Of course not, its their private property, and its their right if they want to sell it or not.

Instead, I propose to control the exchanges through some kind of private comitee, because if someone want to sell too many bitcoins, theres the OTC market for that. You can cry me a river about freedom and liberty for corporate interests, I dont give a fuck.

If the exchanges have limits for dumping in a extended period of time, any kind of FUD would have less impact and more people would buy bitcoin. Institutional investors would flow in, without needing the dinossaurs from governments taking measures for them. And no, this would not be a two-way control, only on the way down, because bitcoin is not a ordinary asset, it was meant to be a reserve currency in the first place, so it needs worldwide adoption. People only buy it because it increases value fast.

So, correction or not, TA will be useless against the capricious movements of a few individuals. The centralized exchanges are accomplices to that. Judging only by TA, I dont believe we will have a correction below 8k.