Lol, I don't think it's a crash. It's probably most likely 2 or 3 whales that have colluded on a correction and re-purchase strategy. I mean I just don't trust any of it any more. It's more or less completely unregulated (not that the regulated market isn't manipulated too)
Do you think the stock market crash was due to a few whales trying to game the market as well? Both fell due to the same effect, people who invested their savings in index funds/crypto now wants top cash out, so they sell.
S&P total market cap is almost $40 trillion. Btc market cap is about $600 billion. One is completely unregulated and not connected to anything physical. It seems it would be a lot harder for "whales" to crash something like S&P due to its high market cap and regulations.
Right, which is why it is ludicrous to believe this crash is due to some whales. That was my point. If only bitcoins dropped but not the stock market he would have a point, but as is its drop looks similar to the stock market.
Occam's razor: if people are selling all other kinds of assets to cash out then people are likely selling crypto to cash out as well. If you believe otherwise you'd have to explain why people would sell their stocks but not sell their crypto.
The manipulation conspiracy is a coping mechanism. The price goes down when a bunch of people are trying to sell their worthless set of bits. There are no more greater fools to offload it onto.
I don't really believe in any collusion. They are still buying tokens which price isn't really tied anything else than future growth... New money must come from somewhere. So who is going to pump it for next round?
