Before any accusation, let's see something really intersting on chart.

chart:

First is the big crash in 2018. As you can see, the bitcoin Dominance reached an all-time low around 40% on Jan 6, 2018. And many altcoins reached their peak at this time. Then the market crashed. During the long crypto winter and after, the bitcoin dominance keep rising.

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And the recent pullback in September 2021. When the D close to 41%, the price dropped sharply. Then the price rises again with the D. The same pattern also appeared in the pullbacks on Sep 1, 2020 and Nov 23, 2020. I will share charts later, if I have time.

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This one is different. In the crash on May 19, 2021, the price and D fell at the same time (bitcoin lose more than altcoins). And here comes the key information: the cause of this crash was China's mining ban, and most of the bitcoin mining used to be in China before that.

So now we can know the ugly fact that when miners are directly hit and temporarily lose the energy for market manipulation. Altcoins would not loss so much more market cap than bitcoin in a correction.

Not long after, right before the September 2021 pullback I mentioned above, most of the Chinese price prediction groups on WeChat were full of rumors about ‘whales selling off’. It is extremely rare for them to predict such level of correction so accurately. Also, founders of these groups have a well-known good relationship with local miners. It's just a Chinese way to make retail investors trigger a long squeeze and spread fear to whole crypto market, resulted in a significant rise of D.

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I am Chinese and I know lots of Chinese millionaires are obsessed with their money game '割韭菜' and have no vision for the future. It's shown on chart. Chinese retail investors fail to get correct and complete information, they choose to trust unknown people claiming to be experts in various groups on Wechat, 'DYOR' is not popular among them. This makes them extremely vulnerable to massively targeted rumors and eventually become puppets in the crypto market. Turning themselves into tools for increasing price volatility and disrupting long-term value investing opportunities. After the Chinese government cracked down on crypto trading in Dec 2021, Chinese retail investors have significantly decreased. This leads to a weakening of the price relationship between bitcoin and altcoins, which makes the manipulation of D become a little less effective.

This is robbery. For any progress in the blockchain industry, defi nft or others, miners have zero participation. But with the manipulation, they can always maintain btc dominance to rob in every bullish cycle and others cannot get the reward they deserve.

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Sorry, post on the wrong board. And the image insertion not functional.