Because manipulation doesn't exist in this market. In his fantasy world.
And in your realistic world, some mysterious bear whale conspiracy has been pushing the price down from 1200 to 340-350 the past 10-11 months.
Do you guys think gold/silver are manipulated as well? They have been going down hard for a while, too.
Central banks can incur losses..
I just judge based on the evidence I have (for example, the decline of miner profit margins is a compelling theory, no? I could give you some graphs describing that). If we're going the tinfoil way, then we can obviously argue anything.
Think about this:
Even if there was a manipulator, why is there no bullwhale manipulator (Winklevoss, Tim draper, think about it) strong enough to counteract?On another note, exchanges take their trading commission in percentage points. So from that point, they actually have an interest to manipulate the prices upwards to generate more profit for themselves.
In incentives are NOT as great for various bullwhales to engage in such attempts at upward manipulation... surely, you are correct that they have incentives to manipulate BTC prices upwards, but they are NO way near as powerful as status quo financial institutions that are frequently backed to some extent (directly or indirectly) by governments. These are NOT tinfoil hat theories, there are a lot of examples in history in which both financial institutions and governments engage in manipulative, corrupt, immoral and/or criminal behavior and the fact that some of them engage in such activities does NOT indicate that everyone involved in these institutions are bad or even that others know about such manipulations to be occurring in some kind of systematic way - b/c the system itself is going to outwardly project goodness and benevolence and there will be a variety of people within this system who are acting with good faith and good intentions without realizing about the dark forces that are allowed to exist simultaneously (that is NOT tinfoil hat, even though some people strive to denigrate such interpretations of the word as if they were tinfoil hat).
