Shaking the Bitcoin Merkle Tree
The latest most compelling news in the Bitcoin and cryptocurrency world right now is price manipulation. It seems that the US Department of Justice will be or has been investigating price manipulation in the cryptocurrency markets. The DOJ has not revealed who or how they are investigating but you can bet it won't be investigating small time traders, but rather the BIG money.
Since everyone thought that Wallstreet joining the cryptocurrency world was a great thing, the price of all cryptos skyrocketed last December. Yet Wallstreet had quite different plans for cryptocurrency once they were legally allowed to trade futures of Bitcoin. This must be why the US DOJ is investigating but it will most likely come away with nothing notable, except maybe to instill the belief to further regulate, as always.
Bitcoin Hashrate for the last 6 months
Source:blockchain.info
Yet in other news it seems that Big Money (strong hands) are investing in Bitcoin mining. Bitcoin's Network Hash Rate continues to climb while the price has steadily fallen since last December's high. That doesn't seem logical to invest money in mining Bitcoin when the price is falling unless you know something others do not. In this case it is most likely price suppression in order to shake the weak hands off the Bitcoin Merkle Tree and into the strong hands of the hungry lions of Wallstreet.
Don't Get Shook Off The Bitcoin Tree!
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