It is most certainly a strange $1+m being moved up and down. My theory is that if the SEC is planning on accepting the ETF, they would be buying Bitcoin up to the approval itself.
A week ago I was speculating they might be buying OTC Bitcoins on itBit, and that might be the reason it suddenly took over as volume leader during a pump. Its OTC market only deals in trades of over 100 bitcoins, and it's more regulated than most exchanges, which would suit the twins.
There were some unusual movements, but the markets aren't exactly rational. There were buys over $1m on both Gemini and Bitstamp today which makes me lead to believe that in both cases they are genuine investors. I doubt both exchanges would create fake walls to move the price around the same time.
Delusional is when you are unable to identify fundamentals and are on an investment-centric forum. Comparing bitcoin vs metals fundamentals is also completely on-topic to price discussion. Like I said before, the market can be irrational longer than you can remain solvent, but on a long enough timeline, bitcoin should behave as a currency and not "money". Currencies are typically not stores of value.
It has taken me a LONG TIME to really do a thorough analysis of bitcoin because there are just far too many variables, but there it is. For most of the time I was focused on complete red herrings like the consensus systems and nash equilibrium, but most of that is just smoke and mirrors to obfuscate the fact that nobody can really get rid of a centralizing power vacuum force. Instead of make believing that some new change is going to improve things, the proper analysis is that the ability to be so called "upgraded", which just means changed, is nothing but a negative in the first place.
If you think that Bitcoin is
just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.
: https://bitcoinity.org/markets/bitcoinde/EUR
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