If I may summarize the most popular answers - most people think that it is the low liquidity (available circulation) and a 24/7 non-stop trading environment that are responsible for the large volatility in Bitcoin.  Of course, small market cap and price manipulation also play a part of it.


How can one get 100X leverage on Cryptocurrencies market?  Do you mean by placing $100 into the investment, I can buy up to $10,000 of cryptos?

I am wondering why Bitcoin price is much more volatile than the stock market?

Let's just stick with Bitcoin only.  Bitcoin have a market cap close to $1T as we speak and, yet, its price is still so volatile.  Is it because the availability of bitcoins in the market is low as most people (especially the new institutional investors) are hodling? 

Is it fair to compare Bitcoin (or crypto market as a whole) to a stock market like SP 500 (which currently has $31.61 trillion market cap)?  If so, Bitcoin cap is only 3% of the SP500.  Is it because of its relatively lower market cap which make it easier for its price to be manipulated (i.e., by a pump-and-dump)?

What do you think?

How are most of the stablecoins are in Tether?  Do people need to use Tether to buy stablecoins?  I know I can just use BTC or ETH to buy stablecoins without involving Tether.

Can someone tell me, mechanically, how can Tether manipulate the price of Bitcoin?

I do agree that if there are any major bad news happened to any of the bigger coins or exchanges, the whole crypto market will be affected in the short term. 

Also, how does Tether survive?  Is it centralized and managed by a small group of people? 

Could you elaborate how Tether prop up the price of BTC?  And what do you mean by "price before Tether started manupulating the bitcoin price"?

Thanks to all your guys' inputs - very interesting.

Do you have supporting documentation on this?  I don't think BTC is pegged to anything though.  BTC is the father all cryptocurrencies and Tether came much later after (2015).

Just saw this article "A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says."

https://www.coindesk.com/a-sudden-loss-of-faith-in-tether-would-pose-risk-to-bitcoin-jpmorgan-says

I don't think so, but what do you think?

(Maybe I am naive, but is there any direct connections between Tether and Bitcoin?)

Yes, you are correct on all. 

And it was a very stressful and helpless moment.  At the time when I was trying to get into my account, 4 times had already tried, so only one try away from my account being locked.  And once it is locked I would not be able to get any help because they would not reply to my email nor I can submit a help ticket because US customers are no longer served.  Moreover, even after I successfully reset my password and regained my account, I still need to find solutions to move my coins out.  At that time, I was so stressed out, but I still need to search for solutions and learn how to implement my solutions with different wallets and tools.

Before I figured out where to move most of the coins to, I was also worry that if the exchange would not let me withdraw, if the phone which has the Google Authenticator installed broke for good (since the battery on that phone is bulged), and if the hacker will strike again before I moved my coins out.  I was also racing against time.

Last night I just realized that I could use VPN to set up a new account from the same exchange, move my coins there, immediately convert them to BTC or ETH, and transferred the BTC out to other accounts, ie, a hard wallet.   This would be the easiest way.  Even though doing so may also incur some potential risks.

No one is immune from a data leak or breach on an exchange, but the less access to different sites can minimize the credentials  info losses.

I don’t remember if any authenticator beside Google are offered in the exchange.

That is a good idea.  If affordable, use a dedicated phone for Google Authenticator and the email.  The email address should be dedicated for investment accounts only.

I have a sim lock on my phone number so that it cannot be transferred to another devise unless I go to the store in person with valid IDs.

It won’t be because of the price are going up.  Because if they just withdrawal the coins to their account without converting them to fiats, the coins would be as they are. 

If your coins lose 80% to 90% of their original value, would you want to check your account often?

You mean if I mentioned their name in the thread they would respond?  I just added some information to my original thread.  If my email were compromised, why didn't the hack redirect my emails to the junk box so that I won't see them?  Also, how did they by passing my Google Authenticator while the iPhone was turned off and that I had never saved the recovery code (unintentionally) for anyone to recovery it?

By the way, does anyone know how to effectively reach out to them - maybe through FB, Reddit, or other social media sites?

I don't want to mention the name directly, but it has been mentioned in this thread by others.  You will need to look for it.


I did not keep the recovery key.  At the time of setting it up, I did not even know that we should keep our recovery key. 

Something just clicked.  I am wondering, why did the hacker change the password instead of just transfer the coins out.  Unless they did not really have the code which was sent to my email and the Google Authentication code.  Besides, the phone with Google Authentication installed was not turned on.  Because these codes are also needed to transfer coins each time.

After I pull out my last coin (which is a very small portion relative to the original amount), I will try to contact them using VPN as ask them to investigate.  It is for their own good that they do investigate.  If they don't, it will be their own loss.

I do not click on email links.  I always go to the site directly to check if the email message is legit.

I use iPad and iPhone.  They should be safer than Android phones. 

I will repeat what I had mentioned before:
In order to change password, they need 1. a security code sent to my email address and 2. code from Google Authenticator.  The Google Authenticator associated to my account is in an old iPhone which was turned off at the time during the hack.  And I did not even keep its recovery code.

The last email (which I initiated) from them asked me to withdrawal my coins to avoid potential losses.  They told me I cannot trade or exchange, only withdrawal.  I replied to them, but they stopped responding since.  As of today, I still don't know what they meant by "potential losses" and how.



   

We all better check our accounts frequently or take the advises from most people - store our coins in hard/cold wallet. 

I hope you did not lose much on that one.  I heard that Coinbase is being regulated by the government closely, but because of that, they are probably more responsible for their customers' coins.  The biggest con is that customers will lose their anonymity.

No emails from them that are in the spam box.  I have no problem receiving their support email before they stopped responding. 

Don’t know how they can hack a phone which has the Google Authenticator that is not even turned on.

They have a 24-hour no withdrawal function after a password is changed, else, the fund would already be gone.  I reset my password using the forgot password option.  In doing so, they sent me security code to my email and I also needed to use Google Authentication in combination to the security code to reset my password.  That means the hacker need to use the same too.  The Google Authenticator was installed on my old iPhone which usually is turned off.  There is always a risk that the phone stops working because it is semi broken as the old battery expanded and forced the touch screen surface to bulged.  But it is usable.  I cannot reinstall it on my new phone since I didn't keep the recovery key. 

Good point on the "read" email comment.  No, these emails were not read when I saw them and received them.

 

It was actually a good story. 

I use iPad mostly. 

Now that you mentioned it, we all should use a dedicated email address for this kind of stuff.  This way, no other website can stole your information.