Well we all heard about it. It even made "normie" news and everyone was talking about a "fake news" story wiping 7 billion off the value of Ethereum. But this wasn't the only story. It was actually a huge dump of tens of millions of dollars worth of Ethereum by one whale which temporarily reduced Ethereum to pennies.
Along with Ethereum's flash crash there was a total market crash, Poloniex was an absolute sea of red. Worse still, this was the second crash in a week and that's not forgetting Bitcoin's flash crash that took it down to almost $2000.
It seems these types of incidents are becoming more frequent.
Cryptocurrencies are being attacked on all fronts.
Aside from this crazy market instability, we saw that new legislation was being introduced in the U.S which would require people declare their cryptocurrency assets as they enter the country. This seems to be a shot across the bow by the U.S.A or the opening salvo of an all out currency war. After all the U.S.A has the most to lose, it having the world's reserve currency which has mitigated their crazy spending habits.
Actual war
The U.S.A is also widely believed to have bombed Libya back to the stone-age due to Gaddifi proposing a gold-backed currency to trade oil. It's also suspected to be involved in the ongoing blockade of Qatar after they started using the Chinese Yaun to trade oil.
I'll get to my point
Trading cryptos is mostly anonymous and anyone can make a fake news story anonymously. Are there powerful government forces behind Ethereum's instability of late? Or is it just a loss of confidence due to the earlier mini-crash that it was still recovering from?
I'm going to guess this is not just ordinary pump and dump tactics but something more malicious and powerful at work like a government entity. This is just my gut feeling based on reading modern history. Am I paranoid?