Bitcoin Forum

Is it true that bitcoin cartel exist that suppressing its price?

There are bitcoin,and other crypto,holders called " whales" who buy large volume at low price. This affects market volume and price increases. They then dump at higher price. Not sure if they are part of a cartel but could be in a telegram group.

I think there is no cartel of bitcoin! Why I can say like that?
You can read this first :
A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs.
Source : Wikipedia (https://en.m.wikipedia.org/wiki/Cartel)
From that definition, we can make a conclusion if cartel manage the supply by Limiting the supply,
I think nobody or no company/goverment can limiting supply of Bitcoin.
As long I know about bitcoin and learn more about bitcoin, I just seen whales which like our friend say before. They can influence the price but they can't manage the price!

But how come the simultaneously news of banning of crypto ads from facebook to twitter to google and even banking institution disallowing their client to invest in crypto even its own money. If only whales can do that. Or its only coincidence.

I believe that there is no cartel for crypto trading yet but there are people with huge investment potential who affect the price in the market by massive selling process or massive buying and that's why we saw some  fast growing price sometimes with this manipulation . Also there are some telegram pump and dump groups who are manipulating some of the coins but only with some cheap coins .

who could this cartel?

This is interesting, every day I see more and more topics about grand conspiracy involving cryptocurrencies. Its like people only now understood that big whales (or cartel, call them any name you want) can manipulate price of crypto, to some extent that is. That is nothing new in world of trading, so why do people care so much. People who have more money than the rest of us will always be part of market, they will always try to take advantage because of their investment fond. So get used to it, and make your decisions according to it.

There certainly is. There are what we call whales that affects the market so much. They are big time holders of bitcoin that fabricates bad news to manipulate the market . Because they have so many bitcoins selling off tgeir coin would hit the market hard