That is what many of you may think now. Bitcoin has hopped up roughly 40% compared to the start of the month, with even higher prices in between.
Normal market movement? Hell no!
I am convinved that Bitcoin prices are 90% "managed" by speculators, and this is one time more where I can "proof" that.
About three weeks ago or so, when the Bitcoin rally begun, there was a sort of syncronized movement of the cryptocurrencies. For me it looked like someone was preparing for something. But I did not want to bath in speculations on that and didn't wrote a post, too bad :D
Anyway...
The sudden spike in Bitcoin price is going together with price spikes in practically all other currencies. Here number 110-120 (or so) on coinmarketcap.
More than 80% of all coins had a ~10% spike at nearly the same time, at least half of them at 5:00 UTC, the rest a bit sooner or later, but that may just be the price averaging mechanism of coinmarketcap or some trades not going as planned.
Fact is: ALL Alt-Coins rose at exactly the same time point as Bitcoin (see first screenshot), both in $ and BTC price.
In other words, it was no exchange crypto for crypto and no normal trade of a billionaire getting into that Bitcoin thingy. Someone put in a lot of real money into the whole market in a concerted, automated effort.
Who that is... you are free to speculate. But whoever that is has now a lot of ammunition for price manipulation. Be prepared for a hot summer, eh!
