This was pathetic, reckless and irresponsible on his part.....
But a part of me wants to believe he did this on purpose to sort of speed up the bitcoin crash just so he could buy loads before it rises again.
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Could well be true what you say....bitcoin will bounce back because the people who have no bank accounts can have bitcoin from there phone in the African jungle even...The Nationless Bank Account Bitcoin Wallet..bless
It's not just that. Bitcoin is in correction mode from what I've read. It seems that it's a very natural thing to happen for commodities so yea... It'll crash but it'll rise again! ^_^
Corrections are natural in any market, they usually follow Gann and Fibonacci retracement levels. It is easy to make a table for either one on excel.