Bitcoin is the perpetual pump-and-dump scheme, never exhausting, so long as there will be enough suckers and greedy people.
The “crash” is when the “whales” (the generic name given to those who control this game, which is far from being “decentralized”) cash their revenues, and then buy again, pumping the price up and keeping the hope alive. Pure genius.
Under the hood of anonymity and fuelled by the power of rumours, tweets and hype, BTC - and virtually any other “cryptocurrency” - keep extracting money from those who would love to get rich fast, a feature of the modern world, where people have so many ways to spend their time. The hope to participate in a “gold rush” is imbedded intrinsic human character.https://seekingalpha.com/article/4454069-bitcoin-crash-september-2021-what-you-should-know
