Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
It is a pump-and-dump scheme for many big investors, but as we can see market is currently influenced by the ETF investors and they are trading OTC. And that's not really impacting any big influence over the BTC price. For example, a few days back Grayscale sold a lot of BTC and they were bought by BlackRock. The amount was so big that if that trade happened on centralized exchanges or even on decentralized ones, the supply would increase in the market and the market would dump for sure but instead, it did not dump.
This indicates that there are no pumping and dumping happening in the market at the current moment, and the market is going smoothly, I am not a good analyst but I think the market is making both understandable patterns for technical and fundamental. Small pumping and dumping is normal and it will be there everytime.