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RE: Bitcoin skids amid broad cryptocurrency sell-off

in #bitcoin7 years ago (edited)

I have a theory about this late string of sells offs. I could be wrong but im beginning to wonder if its less about Govt crackdowns and more about currency manipulation from individuals owning large swaths of the currencies. One possibility could be the HYIP scams and ICO scams, its funny how after sites like Laser Online or Hexabot shut down, scamming thousands of people out of their money, there were major buy ups all the coins. Just saying... the price of BTC got to nearly $20K USD. Notably, there is now a pattern in almost all top 100 cryptos on Coin Market Cap that nearly every coin seems to follow. Every 3 or 4 days til about a week, the prices rise up on most of the coins, then theres a sell off, people then follow suit and sell in panic, then theres about a 20% or so buy up, and a big sell off again. This cant be all the people of the world buy up the same coins and selling them off, over and over again. Maybe Im crazy or paranoid. I just dont think Govt FUD is really underlying reason, it may be a part of it to some extent, but after reading and researching on this im beginning to think its more manipulation of the markets.

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