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August 19, 2014, 08:44:46 AM |
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Now, don't get me wrong, I'm a fan of silver and bitcoin (at the right price).
But aren't bitcoiners supposed to be a little more educated than what the constant calls for the awful 'manipulation' of the bitcoin price indicate? The stories I've been seeing could literally have been ripped from that Silver Doctors site with the word silver replaced with bitcoin! For shame bitcoinland!
Now these stories may or may not be true, but manipulation can go up as well as down.
Consider this:
The ATH we saw was before MtGox went down, with this in mind, could Gox have been pumping the price up for their own gain? We already know that there have been shady goings on on that exchange. This would have been a case of manipulating the price up, but I didn't read very many people calling for the evil manipulation upwards.
But again, this is a story.
So what do we know? I would posit that everything is manipulated to some extent and bitcoin is not exempt from it, if anything it is ripe for major manipulation. Not one market is free of what some would call manipulation. This is business as usual in the financial markets.
Bare this in mind guys, keep an eye on the technicals because while the fundamentals may be strong, markets are irrational. Let's all make some fiat, coin whatever by keeping level heads!
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