Bitcoin Forum

It’s getting hard to pump amid the dump in the $209 billion cryptocurrency market.

At least that appears to be the case when you look at Tether, one of the most-traded digital assets and also one that’s allegedly been used to manipulate the price of Bitcoin. Over half a billion dollars of Tether has been created in August alone, a move that in the past would have often coincided with a rally in Bitcoin, yet the larger cryptocurrency has fallen 15 percent.

The assets moved much more in lock step last year, when Bitcoin hit an all-time high, according to a University of Texas professor whose research showed that “Tether seems to be used both to stabilize and manipulate Bitcoin prices.”

Questions about Tether and Bitfinex, one of the world’s largest crypto exchanges that also shares the same management team, have dogged the virtual currency world since last year, when Bitfinex lost banking relationships yet continued to operate. The U.S. Commodity Futures Trading Commission subpoenaed both firms in December, seeking proof that Tether is backed by a reserve of U.S. dollars, as it claims. British Virgin Islands-based Bitfinex and Tether haven’t been accused of wrongdoing.

To date, $2.8 billion Tether have been issued, according to the company’s web site. The digital currency generally trades for around $1 because each coin is supposed to be backed by $1 of fiat money in a bank. The currency, which started trading in 2015, is pitched as a stable alternative to Bitcoin’s volatility, acting as a haven for crypto investors.

But Tether has also been implicated as a way to move the price at will of smaller digital coins, according to a recent research paper by Chainalysis. Last year, Tether was linked to Bitcoin, Ether and Litecoin about 85 percent of the time, according to the paper. When prices crashed early this year, that correlation fell by an average 93 percent. But between January and June, EOS and NEO maintained a high correlation to Tether use.

“While on-chain transaction activity was in decline for the major cryptocurrencies, traders were still seeing opportunities for profit with some of the newer, lower-volume cryptocurrencies,” according to the Chainalysis paper.

“High volatility for low-volume Tether trading pairs is a typical sign of pump and dump activity,” the paper concluded, in part. “A sudden spike in a particular trading volume followed by an abrupt decline is characteristic of price manipulation.”

Liam Murphy, an outside spokesman for Bitfinex and Tether, declined to comment.

Tether has created $515 million of new tokens this month, according to blockchain data. All of those new Tethers were sent to Bitfinex, the data show. That’s backed up by the Chainalysis report. “After issuance, all Tether passes through the Bitfinex trading platform, Tether’s only direct client,” Chainalysis said. From Bitfinex, about 80 percent of the Tether is then moved to six other exchanges: Bittrex, Poloniex, Huboi, OKEx, Binance and Kraken.

Yet not even more than half a billion in new Tether has been able to affect the price of EOS and NEO in August. From July 30 to Aug. 21, EOS has fallen 37 percent and NEO is down 44 percent, according to data collected by Coinmarketcap.com.


https://mybroadband.co.za/news/cryptocurrency/273213-its-getting-hard-to-pump-and-dump-bitcoin.html

Pump and dump is always there on the line but there are also so many factors that affect the price, maybe pump and dump is really hard today because the volume of the investors is really unstable so then I believe that the value and the price of the coin is also unstable. And maybe due to the huge dip the pump and dump status has moves in a very slow way.

Your title is about bitcoin pump and dump,but your thread is about tether.
Tether has little to almost nothing to do with manipulating the bitcoin price.By the way,the bitcoin price can still be easily manipulated,despite the 209 billion market cap.All we need is a good working propaganda machine that will spread a lie about bitcoin "going to the moon" very soon.The majority of the corwd will start buying bitcoin like crazy.

Im a bit confused too about the thread title and the post about tether.
As davis196 states the value of bitcoin can be pumped or manipulated
but a direct "pump and dump" is difficult IMO without the top 10 or 20
or 100 bitcoin holders making an organised campaign to do so.

It would be a different thing to pumping and dumping shit coins.

Expecting the price to jump to $50,000 isn't a good thing. A stable rise is better than skyrocketing. And reaching this goal requires more people to invest and adopt bitcoin. As more people starts to adopt bitcoin, we will see a gradual rise of the price. Sudden jump would just make people confuse, cause people to panic ( like they wouldn't be sure if they should hold or cash out) and FUD will start spreading all around. Do  we want that?

LOL we will be happy if the price returns to 20k instead of dreaming about 50k price jumps.

Doing pump is hard but dump is easy. We need big investors to pump and fluctuate the price, mass adoption is needed. Now we are on dumping stage where everything is on dump but this doesn't mean a bad idea cause everything is all right and good cause this only means this time is right to invest and waiting to pump

It is really quite difficult to see an intense pump and dump during these days as the value of bitcoin is really unstable. Bitcoin price has been in a dip since the beginning of these year and we could probably tell that the price has not recovered knowing its performance from last year especially at the end of 2017. But knowing that bitcoin is surviving is a sign that bitcoin will still emerge and continue to be the king of all crypto and will reach the highest pump which everyone is awaiting from its lowest dump.

Too many eyes are on bitcoin now, making it hard to pump and dump. Maybe it is time for it to cry out for a change in crypto world and turn this situation around.

I'm not sure if tether is really backed by the same amount of USD.  I'm still on the fence about using it considering it can collapse at any time and in their terms of service they are not required to trade you back USD in exchange for tether.

Once bitcoin becomes more widely adopted the price will stabilize and it will be much more difficult to manipulate.

There has been a lot of pump.and dump in bitcoin but not enough to create a bullrun. Many of us are waiting for bitcoin to recover. There has been a lot of manipulation going on and i think these has resulted to a recovery for some if they were able to ride the tide. Its not easy to see whats happening with bitcoin because its fluctuations are abrupt and sometimes just a little. For now the best thing to do is watch and be ready.

unfortunately the altcoin market has left a bad expectation among people specifically the newcomers. they look over there and see the pump and dumps and they think to themselves that bitcoin should be the same.
but then they come over here and see things are very different. but until then they will make silly claims like this.

it seems to me that when the HYIP starts again on a crypto currency everything will again be easy to pump up and everything will start growing very quickly again

I think saying that pumping and dumping are difficult to do without the top 10,20 or 100 bitcoin holders is an exaggeration. IMO, it is easy for anyone with access(who can easily pay) many news platforms like cointelegraph to control the market price through market sentiment. They can control market sentiment by spreading fake news but it is indeed a different thing when compared to pumping and dumping shit coins.

Wow, this is all news for me, sorry for being a newbie, but I will watch this thread as I see that many experienced traders and crypto enthusiasts arr replying with a lesson in this thread, but for what I see in this pump and dump, I think many investors and even large. companies that invests in Bitcoin also think that the cryptomarket is a bubble so they just pump and dump with a little percentage of profit, and this is only what I would contribute with this discussion.

until today tether still has many mysteries that cannot be solved easily, so, my argument that Tether is better used to store assets. tether market is very stable and follows USD.

some crypto figures like Barry Leybovich and Charlie Lie make a statement that the increase in bitcoin prices reaching 20K is affected by Tether's trading activities.

Of course, for an investor getting bummed by the market, there's only two things that will happen: one, get smarter and learn from the mistake, and two, leave this space for good. IMO, the latter must be true. Most investors have learned and were not quick to get swayed by the market.

If it is getting hard to pump or dump, then it is good for us because speculators will hard to manipulate the market price.
Actually there are already many P & D groups trying to make profit from this kind of activity which is not good for us the holders.

Most people fail to see anything beyond "higher price = good". In this case he just said "oh this means it's bad because it's harder for the price to go up" when I think it's pretty obvious that a deviation from amount of Tether printed to price of the actual asset (BTC) in question ratio is pretty positive.

But Bitcoin is actually pretty easy to pump for any of the proper big whales out there. If a billionaire wanted to diversify and buy some BTC the price would explode.

Until we are sitting on a couple trillion marketcap on BTC alone the volatility will still be pretty evident, but then again that was the case with gold back then too.

Yeah it true.for a speculator getting mooched by the market, there's solitary two things that will happen: one, get more quick witted and gain from the error, and two, leave this space for good. Its all demands your actions towards your decision

Doing pump is hard yet dump is simple. We require enormous financial specialists to pump and vacillate the value, mass reception is required. Presently we are on dumping stage where everything is on dump yet this doesn't mean an awful thought reason everything is okay and great aim this exclusive means this time is on the right track to contribute and holding up to pump

For me this is a good sign nobody's buying the BS and hype anymore , bitcoin price should grow organically and should not be manipulated by certain individual who pump and dump the price of Bitcoin for their own benefit. Sooner of later Bitcoin price will grow.

If Tether issued in a legit way then it has nothing to do with manipulation because if it is really backed by $ then its not called manipulation and it is real market, until we have a solid proof that Tether has been printed out without real $ backup we can't really say that Tether has been used in any kind of manipulation, to my knowledge until this very moment  there is no proof that Tether is printed without $ backup.

Well, as if yes, it is quite understandable why this happens. capitalization bitkoin very much growing ... if you look in perspective. So yes, to carry out various manipulations becomes more and more difficult and complicated. However, I think this is good news ... such jumps in the cost of bitcoin will be less and less with time (due to increased capitalization)

The uncomfortable fact that the whole cryptocurrency ecosystem seems to be tethered to Tether is pretty disturbing. If a USD backed crypto token is so needed, it raises a lot of questions about the long term viability of the whole ecosystem.

Pump and dump is always in the bitcoin, but dump is simple and pump is hard. Capitalization bitcoin very much growing and the price more increasing, bitcoin price should grow organically and ahead of time the price of bitcoin will grow.

Those people have hold lot of bitcoin they easily pump and dump bitcoin. And also a lot of factors depends on when bull run coming so bitcoin price pump also when will ETF approve bitcoin price is pump.

The usual pump and bump especially of bitcoin isn't feasible as more investors are getting enlightened and due to the stringent situations surrounding Bitcoin at the current (from SEC), it is difficult for Bitcoin to have stedy bull run as experienced in 2017.

It's not as easier to manipulate bitcoin market as it was done previously by Chinese gamblers when China dominated the bitcoin market.But still manipulation is done and media is used nowadays to do manipulation by spreading either positive or negative news about bitcoin.

yes maybe a big influence from a less stable investor now makes bitcoin prices go down,
but if the price does not go up and down the name is not the market, because what is called the market, whether it is the modern market or the vegetable market or the crypto market, the price must go up and down.
and in my opinion it is still normal.

Yes this is true. And this is quite a natural process. Over time, bitcoin capitalization is constantly growing ... people believe in currency and invest their money in it. As a result, the amount of investments is increasing and so-called "whales" are already much harder to own the situation on the market, as it is necessary to spend more money on this.

Bitcoin price should grow organically and should not be manipulated by certain individual who pump and dump the price of Bitcoin.I think many investors and even large.

for the current situation, it is very difficult to pump the price of bitcoin because the amount we have is only a small portion of the amount of bitcoin that is spread throughout the world.

your title was about something yet the content is around something else!
Anyway,if you were talk about the difficulty to pump or dump bitcoin then i have to disagree , it's not hard but people are losing faith gradually in the system itself and maybe whales are waiting to see what's coming next . we need something big to get the investors money back in the game.

Well i think it's better to leave the pump and dump action to alts. With btc growing and spearheading the crypto revolution, i think it would be better if it will be just a little more stable.

Yeah, sad news. Let's hope that by the winter, bitcoin will return to the mark of $ 20,000, and better than $ 50,000, but with today's course it seems unreal. Maybe in december bitcoin up

As I notice as of now, bitcoin is hard to get a pump because it always dump. There are so many impacts of bitcoin dump; people are being panic, some are worried but some are not, many investors are afraid to invest and etc. Actually I feel lonely because of that that is why I always pray that the value of bitcoin will rise again soon. :)

you are confusing a "rise" with "pump" or more accurately "pump and dump" which is a form of manipulation. it is not possible to pump and dump bitcoin because the market has grown beyond control of the whales and pumpers. but it is possible to manipulate it to some extent.
and the rises (reaching $20k, $50k,...) has nothing to do with "pumps"

Pump and dump already still in this year without any reason but you have to say $20000-50000$ is nothing to do. basically,if the Bitcoin value will jump $20000 then it's good think our future Life.now we have to wait and see Bitcoin value will rise again soon.

The pump and dump issues is as a results of factors that governs the bitcoin and other cryptocurrency, it could also be technical or other  news about the currency can cause these changes always with time.

Personally, I don't subscribe to the idea behind pump and dump as only few  people always benefit at the end of the day.  There are even dedicated telegram channels who are seriously in support of this. I don't think the pump and dump activity is helping  investors who are new to Crypto.

It is getting so hard to pump the price of bitcoin in the market.
It is very easy to see that the price fall.
there are huge difference this year than any other!
we are climbing the toughest mountian to reach the pump
but we are riding and elevator to go down.
That is the real thing now!

Actually we are not able to know if the price of it will going to pump or not because no one can control the value of it. I dont believe also that there are such people get benefit on it. Because as you are a holder, you will alwsys get benefit from it when its price was pumping.

For most of the people who may not have full trust with btc are those who just happen to dump btc at this bear market season as they are not comfortable with the market condition. However, I believe that many people are still supporting and believing btc's capability as this current dips are temporary and can never be replaced by any other altcoin. The thing is currently btc had been in down trend but looking ahead for btc's future, there is a great opportunity that awaits for btc currency and to the investors.

I don't think it's getting difficult for the P&D's even though it seems to have stabilized  for some months now because there are a lot of vulnerable tools of propaganda that these guys can use to manipulate things. Lets also not forget that there are big miners and whales with great chunks of coins that they can throw in and out to affect inflation.

Now difficult for me because I have hold some coin but all goes to dump. Actually pump and dump is the own history every currency.but I understand this is real time to buy and holding for your future benefits. Suggest him don't forget about this time for holding.i believe investor,and holders everybody will get more profit soon.

Dump and dump doesn't need any big funds before it can pump any token or coin, it only require buying much at very low price and sell little by little till it reached the desire price and dispose the large amount which was acquire at low price and with this any coin can be pump and dump.

No its not , it isnt hard to dump bitcoin because we always witness it happen all the time . anyone can easily dump bitcoin whenever they sell ( small or big amount )  but pumping the value of bitcoin may seem to hard to achieve because even if a certain individual buys a btc , the price will still remains the same  .

The only way to pump bitcoin succesfully is to have an agreement that all of us will unite to hodl or buy a btc for a longer time .

It is common in crypto currency, so no worries about this keep moving.

I advise you that it's just the past, my present moment right now is the rapid drop of BTC and I recommend you safe. Buy more than just pump, otherwise you will lose money in this mess.  ;D