The Crypto Crash

May and June were good months for cryptocurrency. Bitcoin surged to unprecedented heights and Ethereum had a larger gain than bitcoin. Then came the publicity about this surge. The big players who were investing, the media personalities telling us to buy and national economies talking about adoption. Then at the end of May we got the first crash and then a recovery. This recovery was huge, Bitcoin and Ethereum hit record highs. Then mid June another crash, at this point the average bitcoin buyer starts to think the market is just stabilizing and he would seem right. Then there was small surge. After this there was a trend of slowly lower prices. Then came another crash and a small surge. Now were crashing again. Some might say this is normal "the market is just stabilizing" but to better understand this trend the economist must study the graphs. They need to the "big picture". The amount of surges and crashes have been increasing in shorter time periods. The surges are becoming smaller and smaller. Except for a few days this past week the whole crypto market has been crashing for a week. Many people have assumed that these good two months have been a bubble. Maybe this bubble has burst. Has there been exploitation of the middle and low class bitcoin investors by then wealthy investors and banks? There is evidence that this could be the truth. Although bitcoin did surge these past two months, the most media exploitation of the trend has been in June when the market was high. Bitcoin became a hot topic. Some of these media personalities are economists themselves and should know that a surge is great for those who bought low but not for those who buy when the market is high. As economists know these markets are volatile. After a surge seen the past two months the possibilities it would surge again are very low. So why all the media cheer leading? It's very possible big money people who are invested decided to promote through the media this narrative. In other words it's a billionaire pump. Now that the bitcoin ignorant have invested in the market it looks like the dump has started.

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