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RE: Was this week's crash caused by a loss of confidence in Ethereum or are cryptos being manipulated to fail?
everything is manipulated to some extent but you have to remember manipulation is expensive.
anyone 'dumping' millions of dollars worth of stock at the market is not interested in getting a good selling price.. you lose a lot of money doing this.
the recent price action looks like a normal market with some liquidity fluctuations. the price movement is normal.
the reality is their is trillions of dollars of normal currency looking for better value than the current system can offer. a small amount of this money flowing in or out of crypto will cause high volatility depending on the amount of liquidity in the crypto market.. it will stabilise as the cryptos get bigger.
They will get a good selling price if the promptly buy it back. Ethereum went to pennies briefly. Also, if a government agency was involved the goal may not even be to get a good price. The goal may be to disrupt and destabilise. Several million in Ethereum is nothing compared to how much central banks could lose if they can no longer print the nation's money supply. Nations destabilise other nation's currencies all the time, why wouldn't they do it to cryptos while they're still young and vulnerable?