The future of Crypto has been damaged by Banks and foreign countries no longer accepting it as valid currency...
When were banks ever accepting crypto? (Well, except for Ripple, sort of.
https://cointelegraph.com/news/ripp...rk-partners-with-china-based-payment-provider )
I believe that there are a few countries currently accepting crypto, but I personally wouldn't do business with at least two of them. There was some talk about Australia adopting one but I'm not sure if that went anywhere.
Bitcoin was at $5,960.00 at 3 AM and now it's at $7,200.00 seven hours later. It is obviously being manipulated by Bitfinex by buying up Bitcoin with Tether. And your chart is irrefutable proof that's exactly what they're doing. Every time it crashes, they prop it up again. Bitcoin is going to zero as soon as the government exposes their Ponzi scheme.
Of course it's being manipulated. Everything is manipulated. They're just less sneaky about it in the crypto market due to the lack of regulations.
Now, if the government "exposes their Ponzi scheme" (and again, Ponzi is the wrong term here), how will that make BTC go to zero? You seem to think that any government, or even all governments together, can exert control over the price of crypto except in a very temporary fashion due to hype.
Look at it this way. Say you have a stock that opened today at $5960.00 and seven hours later it was at $7,200.00. Then it drops to $5,550.00 the next morning, but goes back up to $7,000.00 by the end of the day. That would be a HUGE red flag that the stock was being manipulated by someone and it's a stock to avoid. Why is Bitcoin any different? It's being manipulated by someone and that's a great way to lose all your money very quickly. As soon as they give up on trying to prop it up (or regulators stop them), it will go to zero.
You seem to have a good grasp of this. How would regulators stop anything at this point?
So, what's causing the similar ebbs and flows of ALL of the crypto's simultaneously? I understand your rationale for Bitcoin however, there is no way that each and every coin is being manipulated the same way each and every time. It's impossible.
There are a lot of people doing the manipulating now. They simply focus on the "hot" alts that show up on the splash pages of the popular exchanges. So what does this have to do with the small alt coins? Simple: a lot of weak hands and easily panicked investors, which is why you see a lot of cryptos that aren't tied to BTC essentially track BTC price trends. This market is driven by hype. The investors are much more excitable and the trades happen in real time. Since the market never closes, it moves much more quickly than the stock market does.
Do you think the Dow and S&P are manipulated?
Oh yes. And when it's not being actively manipulated, it follows the (sometimes irrational) whims of the investors. People are herd animals. They tend to do what other people are doing, even if it's irrational. When the average investor in any market sees a lot of sells, they sell. When they see a lot of buys, they buy. When a lot of people are buying or selling all at once, it swings the price hard, which then convinces slightly more rational people to join in, and so on and so forth.
Depends on who you ask! Nothing is officially manipulated according to the feds and the bankers hehe.
The crashes we experience every 8-10 years are basically just huge wealth transfers. All that matters is which side you are on when it happens.
Agreed.
Once you understand how the system works on a macro scale, it's not too difficult to get on the correct side of things, right? And it's the same thing with crypto, or oil, or tulip bulbs.
Of course they are, as you can see today. The short sellers need fluctuation to profit. Stable market means no profit for them.
I've got a buddy that's doing pretty well in the short game just for this reason. Every day he sets his buy at ~6k and his sell at ~7k. It's been like clockwork with BTC over the last few days.
