Can bitcoin be pumped-and-dumped?

[hasiramasenju]

yes obviously it can but only a person with huge money can manipulate bitcoin price

or there is a group at there with huge power of money could manipulate market cap and i'm pretty sure those people is exist in this world

[pereira4]

Well, consider this: There are people out there that have literally billions of dollars. So they could in theory buy a ton of btc, which would pump the price, then sell it all at once, which would dump the price. So it only takes someone that is loaded, what if a couple billionaires unite? You can guess the answer.

[Denker]

I do not think so. Bitcoin market is too large, therefore it is almost not possible to pump it and dump it. The other question is if one of very large international currency buyer/seller will start to do something with Bitcoin.  

Not sure if you are serious or not.
If you are I would highly disagree with you as it is pretty easy to manipulate the BTC markets.
What do you think had happened yesterday? All those lose long squeezed futures?
No one really knows what the chinese are doing with the numbers on their exchanges.
And for a new player with big pockets it wouldn't be a problem to shake the BTC markets as well.

[crairezx20]

According to demand and supply it can be dump and pump the price of bitcoins if you have a billions of money..
Yeah like other said if one person can buy tons of bitcoin the price should be increase and if they are sell those bitcoins the price should be decrease.
They are relaying in demand and supply..

[buxlover]

Its possible  to control the rates of any cryptocurrency (including bitcoin) by an individual or group who is ready to spend lot of money.

[Kprawn]

I do not think so. Bitcoin market is too large, therefore it is almost not possible to pump it and dump it. The other question is if one of very large international currency buyer/seller will start to do something with Bitcoin.   

A group of whales can pump the shit out of Bitcoin and any other commodity, and it will be hardly noticed. You just spread the tx's over a bunch

of different exchanges, using multiple accounts. We have seen what happens, when there is a run to other Alt coins and how it influences the

the price.. they pump a Alt coin and then synchronize the dump, to maximize profits.. then they run back to Bitcoin. 

[Fraxinus]

It is possible and we see btc prise up and down literally every day so yeah it is possible,but it's definitely harder to do for BTC especially because its market is really huge and you'll need a lot of people controlling the market which is really hard.
So while there can be corrections,it's definitely not easy to do.

[loveofmylife]

Bitcoin is an investment tool or derivative, so bug groups trade it behind the screen, stock is pump and dump, bitcoin is as well

[CoinBreader]

just read this https://www.cryptocoinsnews.com/bitcoin-whale/

the best spot is this

Code:

[14:07]  | ;;market buy 10000
[14:07]  | Bitstamp | A market order to buy 10,000 bitcoins right now would take 6,213,164.9471 USD and would take the last price up to 660.8200 USD, resulting in an average price of 621.3165 USD/BTC

You think this this guy can or can not pump & dump btc ? 

[Coin-Keeper]

just read this https://www.cryptocoinsnews.com/bitcoin-whale/

the best spot is this

Code:

[14:07]  | ;;market buy 10000
[14:07]  | Bitstamp | A market order to buy 10,000 bitcoins right now would take 6,213,164.9471 USD and would take the last price up to 660.8200 USD, resulting in an average price of 621.3165 USD/BTC

You think this this guy can or can not pump & dump btc ? 

Thank you for the link.  I enjoyed that read.  At least now I know that I need to get out of the "whale's" way or be crushed in the process.  I thought my btc savings were going to give me some power, but after glancing at those monster accounts I see I am really just along for the ride.  I really believe this will change in the long run.  I base that on the concept that demand will soon grow faster than new coins can be mined.  As those whales sell off the big block wallets will get spread over several smaller ones and then again sold to even smaller ones, until eventually coins may get spread around to what I'll call the general public's use.  Talking a few years here, but I am in this for the long haul.

[streazight]

Theoretically, it's possible. Given that if the player holds enough money to buy a huge percentage of all the supply there is, technically he'll be able to influence the value of bitcoin, thus being able to do pump-dump scheme.

[HabBear]

I often see this in the altcoin world since their market cap is pretty low or nonexistent altogether.

But what about Bitcoin?

Anything that's bought and sold and subject to the laws of supply and demand can be "pumped and dumped". It happened to tulips in the 1800s (ore earlier) and stocks (obviously, ever since). The challenge one would have with a pump and dump in bitcoin is the leverage needed to do so.

By leverage, I mean having ownership of enough coins to impact the price. The prime candidates with that kind of leverage are the commercial miners and uber wealthy owners, i.e., Satoshi, Winklevii, etc.

That's why it happens so easily with alt coins. Their value per coin is so insignificantly small that it's easy for anyone to own alot and influence the market. Also, the amount of coins traded (liquidity) impacts this as well. The less daily liquidity the easier it is to influence the market on one purchase or sale.

[pooya87]

I often see this in the altcoin world since their market cap is pretty low or nonexistent altogether.

But what about Bitcoin?

it is so much different with altcoins because you can do the pump and dump with a lot less money and make a lot more out of it.

for example ethereum that everybody loves to mention here, was one of the easiest coins to pump and dump. they had control over almost all the coins available (similar premine) and they pumped the price up with that control and the hype they created. and it didn't need any money at all.

in bitcoin to do similar thing you will need millions of dollars.
but also there is sadly still room for manipulation is smaller scales.

[1Referee]

just read this https://www.cryptocoinsnews.com/bitcoin-whale/

the best spot is this

Code:

[14:07]  | ;;market buy 10000
[14:07]  | Bitstamp | A market order to buy 10,000 bitcoins right now would take 6,213,164.9471 USD and would take the last price up to 660.8200 USD, resulting in an average price of 621.3165 USD/BTC

You think this this guy can or can not pump & dump btc ?  

If you are talking about Bitstamp solely, then an instant buy of around 2090BTC worth ~$1.3 million, would get the price to reach $700 directly.

[jacafbiz]

If Bitcoin can be dumped as the recent Bitfinex hacked proofed it can also be pumped, but the percentage movement will be low compared to other Altcoins

[ethereumhunter]

i think bitcoin can be pump and get dumped while there is a panic buy and panic sell on the market. and this is happen on many altcoins, but for bitcoin, i think it will need big bitcoin to make a pump and dump.

[Betwrong]

I often see this in the altcoin world since their market cap is pretty low or nonexistent altogether.

But what about Bitcoin?

I think pumping and dumpimg of Bitcoin becomes more difficult to do with time. The more people are using Bitcoin the more of those who will "dump early" in case of pumping or will start buying in case of dumping.

[deisik]

ethereum is only on a couple exchanges and even though it has a so called billion cap, the amount of coins actually on an exchange is small.
so ethereum can be pumped easily by concentrating on those couple exchanges.

bitcoin however is spread out on many exchanges so trying to pump and dump it takes not only alot more coin/fiat but also having it all spread out on multiple exchanges, to ensure that all exchanges follow the pump/dump instead of working against your efforts

also some of them exchanges halt trades if a pump is happening so yes you can create movement, but an large spike or drop of more than 20% (meaning a real pump or dump) is not easy to do anymore.

it use to take minutes, now it takes hours/day to achieve and there is no guarantee's that your attempts to dump are not defended by others buying up ur hard work as they see it as discount day

I gather it is safe to assume that nowadays it may require no less than a major exchange hack to get a sizable "discount window" if you are waiting for a Bitcoin dump. The recent Bitfinex hack was probably the latest "discount day" (as you called it)...



So get ready to jump on the bandwagon when the news hits home

[entrepmind23]

I think it can be done. There are many bitcoin holders having big amounts and if they decided to pump the price then it can be done. Maybe one day they will agree and decide to pump the price and they can do it because they have the power to do so because of the amount of btc they are holding and then when there's no more funds left they will sell it causing for the price to dive and then maybe some small investors will join in the ride causing the big fluctuations of the price. Bitcoin is widespread and only some hold that big amount and I think they were in for it in the long term so I think they will not do it- the pump and dump- but it can be done if they want to.

[davis196]

I often see this in the altcoin world since their market cap is pretty low or nonexistent altogether.

But what about Bitcoin?

Yes.It can be pumped and dumped,  but you have to invest a few billion dollars.

Altcoins are very easy to pump,but bitcoin is way stronger and more popular.