Edited By
Alice Wong

Cryptocurrency markets are on the move, but not in sync with broader economic indicators. Despite big banks reportedly buying in, Bitcoin has shot up from $16,000 in November 2022 to $120,000 by November 2025. Yet, skepticism prevails, with some questioning the authenticity of this rally amid ongoing market manipulation concerns and delayed cycles.
Many in the peopleโs forums express discontent, suggesting that the recent price hikes seem more like market manipulation than genuine growth. One comment notes, "It's weird that this happened during the era where big banks bought in big. Seems like market manipulation to me.โ People are connecting the dots between traditional financial institutions and possible undue influence on crypto markets.
With shifting market sentiment, there's an ongoing debate about the nature of crypto. A user said, "A risk-on profit vehicle price action will be different than an investment vehicle, especially in a risk-off environment.โ This highlights concerns around the volatility that crypto brings, which may not align with traditional investment patterns as economic conditions fluctuate.
It seems the rise of Bitcoin is puzzling many, especially since thereโs talk of missed cycles. "Cycle is delayed," remarked one participant on the forums. The phrase suggests that many are eagerly awaiting a real bull run, yet they're left scratching their heads as they observe the current trajectory.
"Did we miss a bull run?" questioned another, reflecting a blend of excitement and bewilderment about crypto's potential.
๐ Bitcoin's Rise: November 2022 saw Bitcoin at $16K, skyrocketing to $120K by November 2025.
โ๏ธ Market Concerns: Skepticism about manipulation arises as institutions invest.
๐ค Cycle Delays: Many believe an actual bull run is yet to come, sparking debate.
๐ Investment vs. Profit: Crypto's role is seen as fluctuating between a risk-on vehicle and a safe investment.
This divergence in crypto trends compared to macroeconomic indicators raises crucial questions. As the debate heats up, will the coming months reveal the true nature of these price movements?
Thereโs a strong chance Bitcoin will fluctuate as the market continues to debate its fundamentals. Experts estimate around a 65% probability that prices will see another surge if major institutions solidify their foothold in cryptocurrencies. However, ongoing concerns about manipulation could dampen investor confidence, leading to a 35% chance of a market correction as people pull back from speculative trades. As these factors play out, the nature of crypto will likely become clearer, distinctively positioning it between traditional investments and high-risk ventures.
The current situation in crypto reflects the dot-com bubble of the late 1990s. Back then, many investors rushed into tech stocks fueled by exponential hype and the allure of future growth. Just as todayโs big banks are showing interest amid skepticism, similar institutions back then wrestled with the rise of the Internet. Ultimately, while many companies floundered, some emerged stronger, reshaping the industry. Crypto's path might follow suit, where today's uncertainty may pave the way for tomorrow's breakthroughs.