It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference.
The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
An inside job like this was how Bitcoin cracked $1,000. Or, it was kind of like an inside job but it was more like runaway bots that kept a positive feedback loop going. Mt Gox was the first example of this, and the massive manipulation was very obvious after the market got corrected, as Bitcoin had slumped to just over $100. How we wish that it was like that still, or at least have the chance to purchase entire BTC for just over $100, lol.
I personally think that this is the same situation as what we've seen in the past; I don't have confidence that this will be any more than a pump n dump like we've seen every new ATH. It may be slowing down now, looking at the market, so it's possible that we're going to see a correction before everything gets out of hand. Slow and consistent growth is the key to have a strong and robust currency.