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IPFS News Link • Bitcoin

OF COURSE Bitcoin is Manipulated

• by Pye Ian

Um.  Yeah!?!  This program more than hinted at it all last year.  Jumping 22 times in price in less than a year looked more like a kid's creative writing – or more aptly in this age, creative coding – assignment in school, rather than an economic phenomenon resulting from authentic supply & demand.

Yet how and more importantly, why, did Bitcoin and other cryptocurrencies skyrocket in such a concocted fashion, and relatedly, how and why have they dropped in perceived value so aggressively since last December?  What were the immediate surface – and certainly much deeper – tools used, and by whom?  What relations exist between the forces driving such price movements in this new, unregulated and yet wildly popular global asset class and the older forces of government and banking regulators, private institutional owners and the typically compliant mainstream business press?  Is there a tying together meant here, ultimately, for cryptocurrencies, financial markets, the wider blockchain, machine learning and the internet of things, and a synthesized sense of what money internationally is meant to become?