/biz/ - Business & Finance

China is trying to kill off the main cryptos like Bitcoin, Ethereum, XRP, and LINK. Whether it’s to pump the alts or whether it’s to drive out current investors is a question. ETH has also been underperforming dramatically as well. Look at LINK or ETH’s 1min chart. Every time they start to get a little wind in their sail, some asshole swoops in and sells a bunch to create the illusion of weakness. Last week when Tesla announced it purchased BTC, over 80% of the money flowing into the markets was to Ethereum... yet when you look at the charts, you can see ETH WANTING to go up but outside forces are preventing any sort of rally. There’s no doubt that Ethereum, ChainLink and others are being manipulated and their prices suppressed. China appears to be the main culprit, with F2Pool selling off shit loads of Bitcoin at the most suspect of times, like when Bitcoin is getting ready to break resistances or Fibonacci levels. This is classic market manipulation but since it’s China, they can evade US law. This is what Hollywood movies are made about.

The Bitcoin price is being heavily manipulated and suppressed right now thanks to F2Pool... is there a way to prevent this sort of thing from happening in the future? Sharing the hash rate for instance. F2Pool is one of, if not THE largest mining pool. I don’t think this is what Satoshi had in mind as far as The decentralization of crypto.