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RE: Media says Bitcoin drop due to Coinrail hack, I'm not so sure

in #bitcoin6 years ago

I agree, it could have gone either way and I think a lot of institutional buyers and futures traders have vested interest in buying at the lowest possible price for as long as they can. I do not think fraud or hacks of small exchanges are really that significant, it just gives those who have the money and global connections to pull prices down ( to increase their stake and cover their short positions) when it shows any sign of strength. I don't think this kind of hysteria will keep working for long, There is support and when it does recover I think it will be a series of sprints, there's not enough holders for it to skyrocket. But I think that we may have a really decent climb coming.

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