Mickeyb
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July 08, 2015, 08:07:09 AM

First the Cypress pump now the Grease pump. Is anyone else starting to feel as though Bitcoin is being manipulated to seem like it's responding to current events? We all know the Greeks weren't actually buying. Right?

I don't think anyone believes that Greeks were buying, but rather people elsewhere who see the Greeks with their capital frozen and unable to convert it to other forms or move it out if the country. Greece isn't the only country with serious economic woes, just the worst case among "developed" nations.

This was probably the case with Cyprus too. One can't help but wonder how many Greeks were buying bitcoins in early 2013 during the Cypriot crisis. Those who did were the smart ones.

Of course, a lot of the recent buying may have simply been spurred by the media flurry around the association by some of Bitcoin and Grexit.

I too bet that the number of other people around the world who started wondering what if the Greek scenario happens to them is by far bigger than Greeks who were buying Bitcoins. Media, of course is just looking for flashy headlines.