Bitcoin slides as China's central bank launches checks on exchanges
As someone who spent a year or so trading bitcoin for fun.<p>1) It&#x27;s a mostly unregulated market full of scammers and pump and dump schemes artificially manipulating the price.<p>2) All the news and rumors about bitcoin and any other crypto currency should be assumed to a lie propagated by someone to move the price in one direction or another.<p>3) Nobody on the internet who claims to know why the price of bitcoin goes up or down on a given day has any fucking idea what they&#x27;re talking about, and if they didn&#x27;t they wouldn&#x27;t be posting about it online.<p>4) As long as bitcoin is useful for buying drugs or another criminal activity, it&#x27;s going to be worth <i>something</i>.<p>5) When you suddenly start paying attention to bitcoin because the price has gone up a bunch recently, don&#x27;t buy it, because it&#x27;s about to crash.