JayJuanGee
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How much alt coin diversification is needed? 0%?


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October 26, 2016, 08:37:57 PM

This is basically what's going on, and it doesn't look good for the future panic buys Roll Eyes

https://www.bitcoinqueue.com/details/2d.html

Maybe there is a certain amount of opportunism pumping going on?

If there is a bit of locking out of folks, and inability to anticipate or to get "in" for a pump, then the pumpers can feel a bit of pleasure in locking folks out of the pump, and then get the price to a point in which they can dump onto folks?  Is that price point mid to upper $700s? 

If this does not play out well, then the pumpers (manipulators) could lose control over the situation if it gets into the mid $800s.  I am of the theory that manipulation does exist; however, not even the manipulators have perfect information or are able to completely control price directions... but they are in a decent position to take advantage of situations as they present themselves and maybe even to manipulate within those newly evolving parameters (more quickly than the regular guy).

There is definitely some opportunism (and optimism) in the process, but you can't fake the long term trend (I'm speaking 2 years here). Bitcoin is scarce by design, and that is the precise reason why it is superior or at least a necessary alternative to central banks, when the latter have been seen handing out money (and printing it in volumes) over the last few years.


I agree with your overall points, especially that longer term is more difficult to manipulate, and I am not exactly a big manipulation conspiratorialist because I think that any kind of manipulation, to the extent that it exists remains complicated and difficult to carry out.. but people with money (such as governments and banks) can really put themselves into positions to have considerable sway.. and yeah, in the end, there may only be so much that they can accomplish through the markets... especially when it comes to longer term price pressures and scarcity, as you referred to (and we also know that there are some tools and maybe even some shenanigans in place in which fractional reserves is being practiced - and that is part of the reason why Chinese exchanges have a bit less credibility than some of the western exchanges).