I've been warning Bitcoiners for over a year about the dangers of the big, centralized exchanges like CoinBase, BTC-E, and BitStamp.
These exchanges are manipulating the price of Bitcoin on a colossal scale. Just as the Karpeles 'trading bot' pumped the price of BTC last November, new trading bots at the big exchanges are artificially deflating the price so they can 'buy in' at the lowest rates.
see https://www.cryptocoinsnews.com/bitcoin-price-manipulation-centralized-exchanges-seems-coordinated/
Do not believe the current price of Bitcoin - it is not representative of the true value and potential of the currency.
THE PRICE OF BITCOIN AS QUOTED ON THE MAJOR EXCHANGES IS A COMPLETE AND UTTER FRAUD.
