China could be moving the price as we see it now, but CNN fails to understand that the big spike to 1200 was caused by the willy bot at Gox
I'm sure we'll see continued exponential growth maybe even above 1200 but no spike like before. I also don't believe this "bubble" will last. We will see a correction in February or March.
The halving next year will cause a bubble though
Oh good, another willy bot reference. This usually comes up when people talk about price. Here's the real deal, from the actual person who discovered the willy bot.
Reddit user paleh0rse explains Willy's lack of influence:Willy's small buys did not apply any upward pressure on price during the entire three months of its existence.
If you understood the math involved with Willy's algorithm, and the dynamics of the Muppet Exchange exchange, you would also understand why what I'm saying is true.
You're absolutely wrong about Willy's impact (or effect) during last year's rally -- or, more accurately, the lack thereof.
Willy was a very slow accumulation bot, nothing more. His total daily purchases didn't even keep up with the number of coins being mined every day, and said purchases were spaced out throughout those entire days in tiny 10-20 btc increments that barely moved the needle -- even when there were lulls and nobody else was trading.
I discovered Willy and studied him in real time very extensively for more than a month...
