The market has always been manipulated - but I think a lot of people underestimate just how much of this is really driven by human nature rather than a group of people in a board room. Don't get me wrong, this type of behavior does occur, but it is (in my opinion) much less of a factor than everyone makes it out to be. Even if the sheep are being led, this crap would happen without any "shepherds."
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I agree, a lot craziness is due to human nature, taking that into consideration clearly shows this time it was unusual, no human emotion can motivate anybody to throw away large quantity.
I've seen many times when large quantities take profit, its always up there, limit sell order and often it stops the uptrend, but don't crash it.
Therefore when you see large quantities are thrown on the market, at low volume and the cyclus is already at its lowest price, in a calm period of the day (nobody is there to watch & take action).
No need to do complicated technical analysis to see there is no profit to take.
Result you get a dive.
What does that mean?
I was just at that moment observing the market and suddenly.
Who is throwing all that money away? and again and again I checked several altcoins same dumps on a few of them.
This was enough for the domino effect.
Someone doesn't care about his money or someone wants the price to go down.
On top of that, if it happens several times one after the other within an hour and at the same second in several altcoins.
Yes, People have difficulty to accept that someone wants to manipulate the market negatively
-There is one more fact that proves it beyond doubt
If you know the crypto market, then U know there is a natural relation between different coins. One goes Down the other goes UP, the manipulators didn't care to do their homework. For a while everything was totally out of balance.
The second crash brought everything back into balance strangely enough !!! (that one might have been a real market action)
Everybody comes up with complicated technical chart analysis, I might listen otherwise, this time its technical bullshit.