With the CME options expiring this Friday, Bitcoin is taking another tumble, despite all of the institutional buy-in and so on, the market makers and option traders seem to have little difficulty in bringing the price of Bitcoin to where they want it to be.
If this is the case, and more people (especially retail) get into Bitcoin then the rewards will only increase for successfully manipulating retail and the price. If Bitcoin is just going to function like any stock on the stock market and be a toy at the whim of the whales, what is the case for it being a store of value?
With stocks, they generally go up on future growth/earnings expectations, but Bitcoin doesn't produce anything. Are people expecting that some future event will take control of Bitcoin out of the fins of the whales, or are people just investing because they think it will generally go up over time, and will go up more than any particular stock or basket of stocks will?
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