Quick MarketCap Analysis - $108Billion Lost in 4 Hours !

Coming home last night I was feeling good about another fun and productive local Bitcoin / crypto meetup. I wanted to relax and come down from the excitement that naturally accompanies talking to the crypto-crew for several hours. I tried not to think any more about technology, money and investing. I thought I'd read unwind until I could fall asleep.
But an hour so so later my phone started buzzing and my buddy @cryptoxbb was texting to let me the market was going crazy... again.

So of course I had to take a look and see what was going on for myself. Since part of the train ride over to the meetup, I was talking about this exact topic, it was synchronistic to say the least. I wasn't totally shocked because we seen it all before, as recently as just 2-3 weeks ago. Even though I resisted doing any trading, it kept me awake for a bit longer.

Looking at the charts I can't help but think one thing - this situation Reeks of institutional financier level of manipulation.

If you look at the following 2 CoinMarketCap charts you can see it all as plain as day.

First chart of the Global Market Cap is:

 $739,974,000 at 00:32:00 UTC - Jan 11, 2018

And the second is:

$631,688,000 at 04:32:00 UTC - Jan 11, 2018

Some elementary math shows you the massive move occured in an extremely small time-frame.

 $739,974,000,000 at 00:32:00 UTC - Jan 11, 2018
-$631,688,000,000 at 04:32:00 UTC - Jan 11, 2018

---

=$108,286,000,000

Yes that's $108,286,000,000, sucked out of the markets in almost exactly 4 hours!

Volatility in cryptos will probably be a thing for years to come. It's no secret that pump and dumps happen regularly in the investing world, and way more often in the realm of cryptos. It's also quite clear that they are happening with increasing frequency and with greater severity. I know a lot of people like this volatility because it represents more and faster profit opportunities. And I can't deny that to some degree I fall into that camp. However as we've seen already with the calculated attacks on coins with small market caps, all the way on up to Bitcoin and BitcoinCash and now bankster backed shitcoin Ripple sliding into the #2 crypto spot temporarily, this situation is getting way out of hand.

Even though the market is relatively new (vs. commodity and stock exchanges), it's growing and evolving extremely quickly. However it's still quite immature and obviously vulnerable to hardcore manipulations by people in high-finance. It's becoming increasingly clear that some serious institutional / hedge fund (or nation-state) level players are colluding, becoming bolder, and throwing more and more capital around to manipulate the entire space simultaneously. Because of pseudonymous and annonymous nature of cryptos we might not be able to figure exactly who is doing it, there is much we can deduce by studying these events with more scrutiny.

And while I don't yet know enough technically about how it's possible to move the entire space this dramatically within a few hours, I know enough about capital flows, market dynamics and chart patterns to see this clear as crystal. And it's pissing me off!

Like so many other people who are into crypto, I want them to be a part of a major shift that brings more freedom and value to many more people of this planet. The last thing any of us want to see is another steep rise in the violent trend at megalithic levels of wealth consolidation that these moves are contributing to.

I don't want to see more nauseating statistics like this:

The richest 3 men in America already own more wealth the than bottom 50% of the population of the country.

https://www.forbes.com/sites/noahkirsch/2017/11/09/the-3-richest-americans-hold-more-wealth-than-bottom-50-of-country-study-finds/#27828e313cf8

Or this:

Jeff Bozos just made more in 5 days than most Americans would in 5 lifetimes. (Jeff Bozos made $6.1 Billion in 5 Days of Trading)

https://www.usatoday.com/story/money/markets/2018/01/09/amazon-jeff-bezos-now-worth-more-than-microsoft-bill-gates-ever/1017602001/

I want to see the health, living standards and prosperity of all human beings increase continuously, not just those of the rich and ultra-wealthy.

If we don't want to see the world of cryptocurrencies completely and indefinitely appropriated by bankers (and other merchants of misery), and used as yet another tool of abuse, deceit and coercion, then we need to put our heads together and think about stopping this now.

Thanks for reading and I'd love to hear your thoughts on the current state of affairs!

Beware, prepare and always take.
@hypnopreneur