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RE: Bitcoin officially labeled "Most crowded trade on the planet", but does that mean it's going to go down?
In my opinion, Bitcoin will go up again. The reason is why it is disconnected from the monetary policies of the various Central Banks and this makes it a currency free from manipulations
But chinese miners are having the highest percentage of mining-power right now. I am sure they are using this power to manipulate bitcoin.
Yes, it's the truth. But It's interests of the same miners to keep bitcoin free from manipulation to ensure that its value increases in in the coming years.
Are you sure? Did you hear about the new Bitcoin cash? Those miners like to manipulate the market.
Ok, you are right again, but we have to focus if we are talking about long/medium or short term. I'm talking about long term, the crash you are talking about is a normal fluctuation in the long term period.