Bitcoin's Falling Price Nothing More Than Perception, Or Is There Manipulation?

From about November 2017 to now, Bitcoin has almost come full circle as its price skyrocketed to $8,000 and beyond to $20,000 before falling back to the $8,000 mark.

Traders in the know are less concerned with these movements of price and are not letting the typical Bitcoin fluctuations get to them.

Some are explaining the current price as still massively positive, especially if one zooms out on the charts and looks at where Bitcoin is in the bigger picture.

There are others that are pointing towards market manipulation as a potential cause for why Bitcoin's price keeps shedding its gains between $8,000 and $10,000.

Part of the reason for the concern over the Bitcoin price is that many investors only got into the market in and around the time the price was hovering around $20,000.

As Anthony Pompliano, the managing partner at Full Tilt Capital, explained to Cointelegraph, the Bitcoin price is simply returning to its range.

There has been some good news relating to blockchain adoption, and while it is not being separated from Bitcoin, the technology adoption may not play in to the price of Bitcoin directly, as Pompliano adds, but it is still exciting to see.

Pompliano mentions in his assessment that those who are concerned about the price of Bitcoin should zoom out a bit.

"The price of Bitcoin on May 24, 2017 was $2,250, and at the time many thought it was a bubble and the price was too high. Today we're seeing lows of $7,300, which isn't as strong as the $20,000 peak but certainly still in a strong upward trend despite the sizable pullback."

Recently, the U.S. Justice Department said it had opened a criminal probe into whether traders are manipulating the price of Bitcoin and other digital currencies.