@bombastic bob
Bitcoin is so thinly traded you don't need to assume someone is manipulating it. Only that the holder of one of the 90% of bitcoins that haven't been seen in the blockchain for years decides now that is the time to start selling them. If you hold hundreds of thousands of bitcoins you can't just dump them all on the market and collect your billion dollars, the price would crash before you sold a few percent of them. So you start small and if the price isn't moving too much you sell more, until the price crashes. Then you stop for a while, let the bitcoin boosters who will say "hey this downturn is a buying opportunity!" push the price back up, then sell more.
I wonder if anyone is tracking which bitcoins are traded to know when ones that haven't been seen for years (or never since creation) have appeared on the exchanges in the past couple months?
Biting the hand that feeds IT
