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646

Jamie Dimon said something negative - it dips, then skyrockets back.

China said something negative - it dips, then skyrockets back.

The Fed, IRS, or SEC makes idle threats to regulate - it dips, then skyrockets back.

Elon Musk said something negative about it - it dips, then skyrockets back.

People really are fucking stupid to not see this scheme after all these years.

Jamie Dimon said something negative - it dips, then skyrockets back. China said something negative - it dips, then skyrockets back. The Fed, IRS, or SEC makes idle threats to regulate - it dips, then skyrockets back. Elon Musk said something negative about it - it dips, then skyrockets back. People really are fucking stupid to not see this scheme after all these years.

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[–] • 3 pts

I have been investing in and watching Bitcoin since MTGox. It is 100% manipulated and the "news" that causes crashes is just to get weak hands to panic sell. Notice how incredibly hyped Bitcoin is at the end of each bull cycle? They want fools to buy the top because most people won't hold through an 85% drop in 2 years. The fact that it wasn't super hyped by the media back when Bitcoin was $60k makes me believe we'll see another good run before our next bear market.

[–] • 0 pt (edited )

Yep, you nailed it. They are just fleecing the weak. Also in the early years most people didn't even know how to buy it - that is changing as even Coinstar machines will pay you in Bitcoin now. Easier access, inflation, death of the Petrodollar, etc all bullish. They will keep making money off of it until they're ready to introduce the centralized crypto - maybe the IMF or some other entity, at which point they will finally regulate it.