Dirty secret revealed in new bitcoin crash



Posted by Ed 6 mths ago
It was looking pretty good for a while, an odd period of stability. And then Bitcoin crashed — a crash that hides a much darker secret.

Bitcoin’s latest huge crash contains a pattern that could reveal a horrible secret about manipulation of the cryptocurrency.

In the last week Bitcoin has lost 30 per cent of its value, again. Bitcoin FOMO is over. The digital currency, which earlier this month notched up a year of underperformance, has entered an ugly new phase.

If you bought Bitcoin a year ago (at around US$8,000), and held on ever since, you have lost around 46 per cent of your money. This next graph, from Coinbase, shows Bitcoin’s performance over the past year — terribly exciting at first, then just terrible.


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