Economist and gold bug #PeterSchiff has warned that the current #bitcoin price surge looks like "another classic pump-and-dump.
Your thoughts?
I don't follow Peter Schiff and don't really know if he says it or not so you should give a link to the post where he says that. And my POV on Pump & Dump is, that it is happening all the time, people are trying spoofing, and whales might be the ones getting benefits from spoofing by P&D the market. The market is not so volatile either that we declare it as manipulation. Because we can't manipulate the BTC as easily as we can manipulate the price of ALTs (the ones with lesser M.cap). As we can see the M.Cap of BTC is more than $1 trillion and it makes it almost less reactive to P&D schemes.
But yeh it is possible that this is happening in the market but we are investors, should not focus on what is happening in hours, or days, investors don't really react to such short-term ups and downs, In the long run, we do know BTC is going to make an ATH.
PS: I am not a big investor haha.