I Smell A Conspiracy Against Bitcoin

in bitcoin •  8 months ago

BITCOIN.jpg
IMAGE SOURCE : PIXABAY

Yes, I smell a conspiracy against bitcoin. Not just a small but a big conspiracy against it. That too a well planned, well executed and strategic conspiracy.

As you are all aware that the bitcoin price has come crashing down. It has crashed to almost 6700$. I don't know how much further it will fall. I just hope it does not. I feel like there is a conspiracy behind this fall. Some body wanted to short it intentionally to remove the interest of people from it. This is why there is FUD after FUD and another FUD after FUD. I think that banks and government might have found this currency as a threat to their monopoly and might have decided to end the competition. In this article i will be sharing the reasons why this is and why i feel like it is a conspiracy. I will be sharing with you only the points that have come to my attention. There can be other points too, but there is a chance i may have come to know only about a few. I will be arranging all of these in points.

1 . SOUTH KOREA:


SOURCE: PIXABAY

To me the first FUD came from South korea. There could be some other country too but in my knowledge it was south korea to begin in these last 2 months. News started to come from there that some politician's were saying that it is corrupting their youth. Then we started to hear from them that they are going to close all exchanges and ban bitcoin. Later it did not happen like that, but this created a FUD and from here a slow decline started. For me this is the step strategic step the world establishment took against bitcoin.

2 . NEWS MEDIA:


SOURCE: WIKIMEDIA COMMONS

Media comes to me at number 2nd spot. Why because, media is a slave of establishments. Their master's take the first step and then they follow the suit of spreading the propaganda. And so they did in case of bitcoin. They helped governments create a fear in common folks against bitcoin. There are some people who still believe in media wholeheartedly. Media is controlled by government. Many politicians have investment in media and also in banks. So, it is natural for them to attack bitcoin using one of their investment (Tv and print news) to protect another investment(Banks).

3 . BITCONNECT:


SOURCE: WIKIMEDIA COMMONS

I know you are asking why bitconnect is here but since we are talking about bitcoin conspiracy, lets go full throttle. I think bitconnect is also a part of grand scheme of things. Although i 100% don't agree with this myself but still i will put it here to give your something bizarre to think. What if the bitconnect was a conspiracy from the start by the government to make people lose money, eventually losing faith in cryptocurrency along with it. Right now it feels like one of the cards in this particular domino effect placed in such a position that it helps crash the market further. Actually it look exactly like that. When the crash of bitcoin started, texas sends them cease and desist letter and they close their lending platform. Now you see how it fits into grand scheme of things?

4 . CHINA MINING BAN:

SOURCE: WIKIMEDIA COMMONS

I don't know how much damage it had on the market but i think it was a well collaborated news from china at the right time. This was yet another card placed at a right position in current domino effect.

5 . Thether:


SOURCE: COINMARKETCAP

I don't know if this really should be here or not but tether was also responsible for bitcoin crash some days ago. What if tether was planted by the government to crash the market. They were sent subpoena way earlier but the news media published it right on time to further add fuel to the fire.

6 . INDIA:


SOURCE: FLICKR

From government giving very diplomatic statement to intentionally misleading statement(interpretation) from media to mass panic, all are part of this. This is where the major crash started. It was like a big wicket fell. Yes, India is a big into cricket and i think this example suits best here.


SOURCE: PIXABAY

7 . CREDIT CARD BAN:


SOURCE: PIXABAY

Right after FUD from India, it was US credit card companies that took the major step. They banned purchases of crypto using credit card. This further added fuel to the fire and added to the crash.

8 . CHINA AGAIN:


SOURCE: WIKIMEDIA COMMONS

Right after credit cards, China followed suit. It added international exchanges to its big firewall causing further crash. A crash so bad that it took bitcoin price way below 7000$.

CONCLUSION:
Since all these events happened one by one it feels like a planned conspiracy to me to take down the bitcoin and crash it beyond recovery.

Please add your opinion down in the comments. I would love to hear your opinion.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

BTC will be at new ATH's again in the next 1-18 months. Patience will pay off.

·

Of-coarse this market blesses long term investors.

In limited words all the central banks get screwed by this crypto currency thing after it shows some dramatic jumps & get to ATH in December which eventually lured for black investors and all the finance ministries of individual countries caught an eye to the black investments.henceforth to discourage the use of cryptos in black market they buckle up & some of them came heavily to cracked it down.which apparently cause a chaos in the minds of investors & they started dumping all the assets they posses without knowing demand & supply game.that causes the slide.
Though it could be a conspiracy but one can't deny the fact of presence of some crocodile in the market.so my conclusion is all the black investors getaway with huge pockets & governments losses usually filled up by common man's hard earned money.

Keep calm, keep your coins and wait :) or buy some cheap btc while you can because this is temporary

·

yes i am doing exactly that but these thing's were going in my head since yesterday thus shared it here to see if someone else also has a similar opinion.

·
·

Lets see until the end of week... lots of people are worried about their investments

Does that explain the decline in other coins also?

·

When bitcoin falls every other coin falls with it. They all go hand in hand. I wish altcoins were independent but so is not the case here.

·
·

Bitcoin down 65% from highs in mid-December.

Bitcoin's rapid tumble from December records comes amid a slew of negative headlines pushing back against cryptocurrencies' advancement into established financial markets.

yeah!! In the case of cryptocurrency, increased regulation is the reason for the crash. That’s definitely bad news for short-term investors and long-term traders should wait for a successful retest of the lows before buying
Feb. 5, dropping below $7,000 for the first time since the middle of November 2017.

According to Cointelegraph’s price index, losing at least 11 percent of value in the 24 hours to press time, and about 60 percent over the last 30 days.

there correction start date :17 dec'17
correction end date :8 feb'18
days in correction in 48 days
highest price 19,666$(apprx)
low price 8,094.80$(apprx)
decline % (-59)
As of today, the price is down 64.5% in just the last few days.
So that’s a big drop for any market.
However, a price crash in Bitcoin or any other cryptocurrency is nothing new. Bitcoin dies and comes back to life on a regular basis. One website estimates Bitcoin’s death toll stands at 249 and counting, dating back to 2010. but how low will it go? actually i don't know, because Nobody can predict the future but there's no SELL in HODL

Good luck riding the roller coaster no matter what your investment vehicle of choice

First, they pretend you don't exist and ignore you, deny, deny, deny. Then, they laugh at you, mock you, try to make out everything is a joke. Then, they try to destroy you, try to take you down, and do everything to make others believe they must not give you the time of day. And then, you win XD

We are at the third phase. They are trying to tear down Bitcoin and Crypto. And it will hurt. But once the battle ends, crypto will be the victor, and the banking system that is trying to tear down decentrilized monetary systems, will perish.

·

This situation would not even have happened if our fighters ( Investors) were brave and strong. The truth is all the new guys jumped in on this with greed thinking that it will buy them Lamborghini in just 15 days.

·
·

I know! A get rich quick scheme. And that's not how it works. And it went up so much the mroe people bought, buying out of Fear (FOMO). And now people are selling out of fear.

got up voted at 37%

It will come back bigger than ever before remember you heard it hear first we will all be rich one day so don't give up hold on be patient 👌😎👍

·

Yes, of-coarse it will rise again. With mass adoption of bitcoin there is no way anyone can stop it from making us rich. Only those who invest for short period are the one's who lose.

·
·