A few thing people here don't seem to understand:
Most buying is done off exchanges and OTC. By a wide margin too.
China is not leading this market.
No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity
...
Most buying is done off exchanges and OTC. By a wide margin too.
China is not leading this market.
No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity
...
If you figured this much out, then you probably also figured out that the one entity is not done yet either.
If one entity managed to corner BTC already, we have bigger issues
I guess it is easier to imagine a single actor and attribute intentions to this actor than to imagine the net effects of a large number of individuals.
These kinds of theories of one or a few entities controlling BTC prices are bonkers.
Surely, there are some bigger players that engage in manipulation of BTC prices, and surely there is some very advantageous manipulation and signaling between various big players, but narrowing down the explanations to only a few big players misses some of the reality of market dynamics in which manipulation has its limits and even the manipulators lose control over BTC price direction from time to time because of either other big players or multiple small players that push the price beyond the ability to reasonably manipulate.
