{"id":93724,"date":"2018-11-22T15:00:15","date_gmt":"2018-11-22T23:00:15","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=93724"},"modified":"2026-04-16T17:36:52","modified_gmt":"2026-04-16T16:36:52","slug":"is-the-bitcoin-nosedive-an-outright-accumulation-cycle","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/is-the-bitcoin-nosedive-an-outright-accumulation-cycle\/","title":{"rendered":"Is the Bitcoin Nosedive an Outright Accumulation Cycle?"},"content":{"rendered":"

As Bitcoin<\/a> plows through support levels that many thought were prehistoric, investor sentiment has all but sunk to a standoff between capitulating defeatists and grim-faced, but defiant, maximalists.<\/p>\n

The expected confusion of explanations has emerged for the coin\u2019s ferocious sell-off, seeing prices wind the clock back to October 2017.<\/p>\n

There's the noise that the US Justice Department's months-long\u00a0criminal probe into Bitcoin price manipulation,<\/a>\u00a0according to Bloomberg's unnamed sources, may have suddenly closed in on Tether for its possible part in illegally orchestrating Bitcoin's famed 2017 rally.<\/p>\n

There\u2019s Craig Wright\u2019s much-reported, thinly veiled threat to send the original cryptocurrency plummeting, perhaps to $1000, by selling off BTC holdings and fueling his troops in the rapidly escalating Bitcoin Cash civil war<\/a>.<\/p>\n

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To all BTC miners…<\/p>\n

If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well… we think BTC market has no room… it tanks.<\/p>\n

Think about it. We will sell A Lot!<\/p>\n

Consider that….
And, have a nice day<\/p>\n

(BTC to 1000 does not phase me) pic.twitter.com\/oUScEahtWc<\/a><\/p>\n

— Dr Craig S Wright (@ProfFaustus) November 14, 2018<\/a><\/p><\/blockquote>\n