precisely, the wise one will also ask why it should go up? not many people realize that bitcoin just jumped ahead of its true price due to mass scale MtGox fraud... it wasn't China pump per se but rather well organized MtGox fraud that ignited the gambling fever in China which created this illusion of sudden wealth while distorting true reality... a lot of people suddenly lost their senses and thought that they'd retire rich not thinking hard enough about where all that money needed to come to get them there.... nowadays every bull is just blindly echoing another bull's echo saying "we'll go up soon, this is just shakeout, this is manipulation, 5 digits soon and etc"... At the same time there are other bulls that are finally understanding the truth of the matter that bitcoin is not immune to what's going on outside the world and it's time to cut losses while you still can.. despite bitcoin's innovation it's still the least item on investors' mind when you look around hard enough to see much uncertainty arising from geopolitical tensions, economy indicators that are flashing red, low investor sentiment and etc.. even mighty whales that bulls hail about give up eventually to cover other expenses or diversify into real assets such as gold and silver in times like these..
i'm neither bull nor bear just someone trying to stay sober and i haven't lost a single faith in bitcoin's future, just that i should've seen this coming and reduce my exposure.. oh well i'll hold till at least to a point where i can recover my initial investment.. in my view crypto is just evolving into something better that will suit times ahead of us.. will it be bitcoin? could be but as you can see its very survival is at stake and if it doesn't evolve fast enough and make its blockchain more valuable by introducing more innovation then there could also be alternatives too... hint: invest into cryptos that are immune to shit like bitlicense, regulation, surveillance and wealth confiscation because as we approach WW3 that's the first thing governments will do to fund their wars...
Why did it go up in the first place?
