Changing phases in and views about Bitcoin seem weird; it'll likely get weirder
What's been happening around Bitcoin? Weren't many enthusiastic analysts saying confidently it'll soon go up as high as 20,000 dollars just a while ago? Ha ha.
And what the fuck is this kind of stories on its manipulation talking about?
One Bitcoin is now worth a depressing $6,370 following claims that last year’s price explosion was caused by artificial market manipulation. In a paper published today, John M. Griffin and Amin Shams from the University of Texas used algorithms to analyse blockchain data and found that trades of a cryptocurrency pegged to the US Dollar were ‘timed following market downturns’ and resulted in ‘sizable increases in Bitcoin prices’.
This manipulation was ‘associated with 50% of the meteoric rise in Bitcoin and 64% of other top cryptocurrencies’, they said. ( ... )
Here too, in South Korea, not a few people caught in insane crypto-mania were insanely happy just a bit ago to see higher valuation of their holdings in some crypto-assets.
Heaven-to-hell, and then hell-to-heaven changing in value out there and your inner mood is just too hazardous not only for discovering meaningful crypto- (& whatever-) alternative currencies, but also for your mental health.