what's the incentive of buying btc by normal people ?
because the btc can hedge against fiat value devaluation ,so the only thing that matters is the price .
if the price goes up stably more and more people would get involved .
But now the situation is dirty chinese exchange are controlling the price , they wants to make fiat money from big volatility .
Recent plummet of bitcoin price was due to the Alibaba's huge amout of IPO. Many traders were dumping their bitcoin holding recklessly on the open market. Don't you read the news? I don't think it is right to blame others' non-exist mistakes without knowing the true.