Bitcoin Whales Pulling the Cryptocurrency Strings

[coinholic]

Good day!

Just came across this article which caught my interest. It has been asked for so many times if Bitcoin or the crypto market could actually be controlled or manipulated. And by reading the article, we would most likely be convinced that the market can actually be controlled by the "big players."

Please share your thoughts.

https://business.inquirer.net/252419/bitcoin-whales-pulling-cryptocurrency-strings

[avikz]

The article says, "In a 24-hour period between Monday and Tuesday, the 100 biggest bitcoin transactions out of 200,000 accounted for 24 percent of the money volumes – an unimaginable level of concentration compared to other markets."

However, it failed to describe how whales are controlling the market. Definitely huge amounts of sell volume can take the market in red zone. But the article failed to prove its point.

Please make me understand one thing, lets assume, I have 10k bitcoins in my cold storage. Why would I want to manipulate the market in such a way where the price will decrease? It will be a direct attack on my own wealth. As a whale I would always want the market to go up because my my wealth will appreciate with it. A lot of people here talk about whales are controlling the market and decreasing the price but no one talks on WHT? Can you help me understand these.

I have asked this same question in many other similar threads but never received a proper reply.

[cryptohunter]

The article says, "In a 24-hour period between Monday and Tuesday, the 100 biggest bitcoin transactions out of 200,000 accounted for 24 percent of the money volumes – an unimaginable level of concentration compared to other markets."

However, it failed to describe how whales are controlling the market. Definitely huge amounts of sell volume can take the market in red zone. But the article failed to prove its point.

Please make me understand one thing, lets assume, I have 10k bitcoins in my cold storage. Why would I want to manipulate the market in such a way where the price will decrease? It will be a direct attack on my own wealth. As a whale I would always want the market to go up because my my wealth will appreciate with it. A lot of people here talk about whales are controlling the market and decreasing the price but no one talks on WHT? Can you help me understand these.

I have asked this same question in many other similar threads but never received a proper reply.

The whales want MORE btc....... how to get it dump a ton in collaboration with other whales and cause negative sentiment and even panic so others start dumping causing more panic and more dumping then because you dumped out first you got better prices for your btc and after the panic you can start buying all those bitcoins back far more cheaply

But wait its even better for whales now because they have an almost fool proof method of manipulation

these are the BEST times to make great great gains

[batang_bitcoin]

This isn't a secret anymore that there are whales who are controlling and manipulating the market. This is why some investigation has been started but it's not yet proven.
U.S. Launches Criminal Probe into Bitcoin Price Manipulation
Research: Tether, Bitfinex ‘Manipulation’ Reason Behind 2017 Bitcoin Price Highs
Much of bitcoin's 2017 boom was market manipulation, research says
Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say
A lot of articles are showing about the manipulation but just like what avikz said they haven't described how they are able to manipulate and it wasn't proven.

[cetald]

The market is ruled by greed and fear. The media stimulates ordinary citizens in making certain investment decisions regarding cryptocurrencies. Who controls the media, he manages these decisions. These are institutional investors. They have all the levers of influence.

[dothebeats]

This doesn't warrant a new post or article every day or two, as it's already widely known that whales control the market behind the scenes. The recent action of the US gov't to crack down spoofing on crypto exchanges is one of the many deciding factors as to whether there's some whale action going on or none. Most of these articles popping up failed to deliver that the spoofing issue is already a giant proof that certain market forces exist that warranted an investigation on exchanges. It's not only on crypto exchanges that such whales move but also in the bond and stock markets however they operate as subtle as they can be so as not to get under the Fed microscope.

[ladydark]

Yes.Its the bitter truth that big whales manipulate bitcoin price.New investors play a major role in supporting big whales by getting panic and selling their bitcoins which makes the price to crash more.

[Gdra467]

I don't think the whales have much to do with the recent dip. Perhaps it's got something to do with the coinrail hack and the US investigation about the activities of some exchanges believed to be manipulating crypto prices. Bad news usually have a way of dragging the entire market down.

[melted349]

I don't think the whales have much to do with the recent dip. Perhaps it's got something to do with the coinrail hack and the US investigation about the activities of some exchanges believed to be manipulating crypto prices. Bad news usually have a way of dragging the entire market down.

That's what the whales wants , dropped the market to buy more crypto in a cheap price. To manipulate the bitcoin price the whale and other whales are collaborating to sell their bitcoin and it cause of crashing and the other members will do a panic selling. Then if the market are down, they  take advantage of the opportunity to buy more bitcoin at lower prices.

[vinc3]

Either we like it or not prices will go up and down it may or may not be controlled of whales but then at the end of the day we holders and traders will still have the last say if we will give in to the offer or not. We are our own captain of our ships so sail it well and you will not regret either there's a whale or not on the tides of the markets.

[pooya87]

The article says, "In a 24-hour period between Monday and Tuesday, the 100 biggest bitcoin transactions out of 200,000 accounted for 24 percent of the money volumes – an unimaginable level of concentration compared to other markets."

However, it failed to describe how whales are controlling the market. Definitely huge amounts of sell volume can take the market in red zone. But the article failed to prove its point.

Please make me understand one thing, lets assume, I have 10k bitcoins in my cold storage. Why would I want to manipulate the market in such a way where the price will decrease? It will be a direct attack on my own wealth. As a whale I would always want the market to go up because my my wealth will appreciate with it. A lot of people here talk about whales are controlling the market and decreasing the price but no one talks on WHT? Can you help me understand these.

I have asked this same question in many other similar threads but never received a proper reply.

this has become a common method of article writing among these useless websites (to publish clickbaits basically). they fill the lines with a lot of "data" some of which may not even be  correct then they keep repeating the same thing over and over again. for example in this case it gives you the volume, the amount of bitcoin held in certain addresses (from bitinfocharts lists) and then repeats that whales are manipulating!
by the way this article is just a copy paste that is being published among at least a dozen of these sites!

why? as @cryptohunter said you want to buy more bitcoin. you move ~100BTC or less to exchanges and dump until certain levels that can cause a panic and the market is small enough to react to it. then the panic sellers and the media does the rest for you and you will be waiting at the bottom with a huge buy wall to both prevent the crash from going any lower and also buy back what you sold with a big profit. rinse and repeat.
nowadays there is also shorting and futures contracts that you can use in combination with your manipulation to earn even more money, more money that you then invest in bitcoin at the bottom to have even more bitcoin.
when all this is done you will have 20k bitcoin instead of 10k...

[Leyss]

The article says, "In a 24-hour period between Monday and Tuesday, the 100 biggest bitcoin transactions out of 200,000 accounted for 24 percent of the money volumes – an unimaginable level of concentration compared to other markets."

However, it failed to describe how whales are controlling the market. Definitely huge amounts of sell volume can take the market in red zone. But the article failed to prove its point.

Please make me understand one thing, lets assume, I have 10k bitcoins in my cold storage. Why would I want to manipulate the market in such a way where the price will decrease? It will be a direct attack on my own wealth. As a whale I would always want the market to go up because my my wealth will appreciate with it. A lot of people here talk about whales are controlling the market and decreasing the price but no one talks on WHT? Can you help me understand these.

I have asked this same question in many other similar threads but never received a proper reply.

Sell ​​whales can be beatcoins in the event that they force the price of bitcoin to drop now existing to buy bitcoin at a much lower price in the future. Their goal this time may be those newcomers who bought bitcoin at a high December price and expect the rise of the crypto-currency market. Seeing the further descent of the price of bitcoin instead of the expected rise, they can quite sell their bitcoins in order to at least partially withdraw their money from their expensive bitcoins. When this happens and the whales are enriched, then bitcoin can start moving up.

[coinholic]

The article says, "In a 24-hour period between Monday and Tuesday, the 100 biggest bitcoin transactions out of 200,000 accounted for 24 percent of the money volumes – an unimaginable level of concentration compared to other markets."

However, it failed to describe how whales are controlling the market. Definitely huge amounts of sell volume can take the market in red zone. But the article failed to prove its point.

Please make me understand one thing, lets assume, I have 10k bitcoins in my cold storage. Why would I want to manipulate the market in such a way where the price will decrease? It will be a direct attack on my own wealth. As a whale I would always want the market to go up because my my wealth will appreciate with it. A lot of people here talk about whales are controlling the market and decreasing the price but no one talks on WHT? Can you help me understand these.

I have asked this same question in many other similar threads but never received a proper reply.

I would say that these writers would only give us bits of information about certain topics which leaves us hanging or assuming things in our head. In this article, the writer's goal is to provide some facts or ideas as to how whales do their thing since they really have no solid proof as to how manipulation is done. Obviously, conclusion making is left to be made by the readers. A strategy by writers or publishers to make things more interesting.