Can bitcoin be pumped-and-dumped?

[drwtsn32]

Yes it can be pumped and dumped but I'm sure that it will be very difficult to do that.
Maybe you can do it if you have the majority of the bitcoins. But that seems to be impossible.

[Pursuer]

it will always require money and when the market cap is as big as bitcoin's and there are a lot of investors then you would need lots of it. and also another important thing to remember here is that the pumper has to make profit out of this so apart from having a lot of money the tricks for pumping has to work otherwise it would be throwing money away and since it is so much harder to do it these days because of the many places to trade bitcoin and so many investors in it, it doesn't happen easily.

[iqlimasyadiqa]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

[BlackPanda]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

I a gree with you . it is impossible for someone to do a pump and dump. is like dreaming in the daytime.

[amacar2]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

It is true that to pump and dump bitcoin price will require a lot of fiat or bitcoin but there are few whales who have thousands of bitcoin so they can move the market as they want for few $ dump and pump.

[Digitalbitcoin]

Yes surely bitcoin is invented digital currency and also a peer 2 peer currency so as many users come to this environment value of bitcoin rise. Now you question of pump and dump. As if any one wish to get stake for  bitcoin and when anyone make a deal with huge capital price of bitcoin will go high as last 2012 price of bitcoin was reached to 1151 USD. And some user who invest with huge capital if sell it it called as dumping.

[deisik]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

It is true that to pump and dump bitcoin price will require a lot of fiat or bitcoin but there are few whales who have thousands of bitcoin so they can move the market as they want for few $ dump and pump.

You don't even need the Bitcoins for the pump or dump, a big amount of dollars is enough.

Bitcoins are needed for the dump part while dollars for the pump part, in order to bootstrap the whole process either with a pump or a dump. You sell (a lot of) bitcoins and this drives the price down, you buy (a lot of) bitcoins with dollars and this drives the price up. Then rinse, repeat, as simple as it gets...

This is how this scheme essentially works

[calkob]

It would take someone or a company with massive amount of bitcoin and cash to pump the bitcoin price, but i would say that there is definitely abit of post buying on good news coming and on bad

[veleten]

not only it can be done it is BEING done on a regular basis
it does require large amounts of coins to move the market up and down
but if you have a closer look at all major price spikes/drops
it is pretty clear that the trading volumes exceed averages 5-100 times over during that periods
so I do not believe in "just and fair hand of the market" same goes for the gold price and oil prices
that have nothing to do with the trading as we know it
again it is just my IMHO

[The Sceptical Chymist]

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.

in short.
ethereum is a useless coin with no real world usage and limited exchange coverage. so when a dump happens people dont assume its a discount day, but see it as a stay away and let it plateau before deciding what to do

bitcoin has millions of uses (300k merchants selling multiple products) and many exchange coverage, so when a dump happens people are eager to grab it at a discount and not wait around.
not saying its impossible to pump and dump, just saying you cant make it drop/rise 20% in 10 minutes anymore, theres too much resistance

Arbitrageurs should keep the price stable across the exchanges if the market is efficient.   And yes, it is possible to inflate the bitcoin bubble if you have enough dough.  Warren Buffett could do it easily were he so inclined.   It's just harder than these tiny market cap shitcoins.

[Zadicar]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

It is true that to pump and dump bitcoin price will require a lot of fiat or bitcoin but there are few whales who have thousands of bitcoin so they can move the market as they want for few $ dump and pump.

You don't even need the Bitcoins for the pump or dump, a big amount of dollars is enough.

Bitcoins are needed for the dump part while dollars for the pump part, in order to bootstrap the whole process either with a pump or a dump. You sell (a lot of) bitcoins and this drives the price down, you buy (a lot of) bitcoins with dollars and this drives the price up. Then rinse, repeat, as simple as it gets...

This is how this scheme essentially works

Well its just a  law of supply and demand of bitcoin. If supply increases with less demand and the volume of bitcoin goes higher then its sure that the price would go down and also if  bitcoins supply is low and demand is high then it would rise its price. In my own opinion.

[ObscureBean]

I don't see why it wouldn't be possible, it would just have to be on a different scale from your average pump and dump. If the top 100 Bitcoin holders banded together and planned it carefully they probably could pull it off. Together the top 100 would have over 3,000,000 BTC to draw on, that's close to 2 Billion USD, I doubt the market would be able to keep up.

[BitcoinHodler]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

It is true that to pump and dump bitcoin price will require a lot of fiat or bitcoin but there are few whales who have thousands of bitcoin so they can move the market as they want for few $ dump and pump.

You don't even need the Bitcoins for the pump or dump, a big amount of dollars is enough.

Bitcoins are needed for the dump part while dollars for the pump part, in order to bootstrap the whole process either with a pump or a dump. You sell (a lot of) bitcoins and this drives the price down, you buy (a lot of) bitcoins with dollars and this drives the price up. Then rinse, repeat, as simple as it gets...

This is how this scheme essentially works

It is not only that.
Buying and selling is only a small part of the manipulations. If you recall, Mtgox was pumping the price with all kinds of fake information with their bots (granted back then it was only Mtgox and everything else was too small to matter). But that is also another method.

There is also spamming FUD about bitcoin being dead, being dumped like what Hearn did. Or the opposite, hyping bitcoin like the halving hype.

[tabas]

I don't see why it wouldn't be possible, it would just have to be on a different scale from your average pump and dump. If the top 100 Bitcoin holders banded together and planned it carefully they probably could pull it off. Together the top 100 would have over 3,000,000 BTC to draw on, that's close to 2 Billion USD, I doubt the market would be able to keep up.

Well that is why I am thinking that whales are also the one who manipulates the market of bitcoin. But I know that they want to make some good output with it and they just want to make the price of bitcoin very stable at all so if they are the one who makes some regulation in the cycle. Pumping and dumping is just normal so that's why if there is rapid pump, for sure next to it is rapid dump.

[Kakmakr]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

I a gree with you . it is impossible for someone to do a pump and dump. is like dreaming in the daytime.

Impossible? No, It is standard hedge fund practice. You get a bunch of people doing small trades over weeks to gradually pump up the price, and then you dump some coins to cash in on the profits. This is not something that are done in one or two transactions, but something that are done over a much longer period.

This is also not something that are done only in the Bitcoin environment, because it is common with other commodities too. ^smile^

[Wind_FURY]

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

But what about Bitcoin?

Let me ask you this. Why is it that bitcoin has very high volatility? One day it is down below some price from a decently high price then the next day without any warning to goes up really high. After that it goes back low again. Is that not a behavior of something traded being pumped and then dumped?

We all give excuse and deny the fact that bitcoin is being pumped and dumped from time to time and justify that by saying that bitcoin is "naturally volatile". The day that bitcoin's volatility becomes low is when the price reaches $10,000 per coin. Let's see how pump and dumping traders move that.

[Dudeperfect]

Yes, if someone has much money and he has nothing to do with this technology then pumping and dumping bitcoin is easy for him but since there is a large number of users and a great community, it is difficult to do it within a short period of time.

Personally, I don’t see any possibility of such incident in near future because panic selling awareness is increasing, everyone is getting aware about the potential of bitcoin so in such case people will acquire more and more bitcoins in price fall.

[SmartIphone]

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

But what about Bitcoin?

Same like other coins bitcoin price can be pumped and dumped but this is different from the altcoins where only few developers or only few people can manipulate the price.
But in the bitcoin it is a bit different because we don't have the power to pump or dump the price but this can do big holders and big exchanges if they want.

[emberbekas]

Sure bitcoin can be dumped or pumped at everytime! I think someone or some companies out there hold a bunch of bitcoin on their wallets and it is easier for them to dump bitcoin when their want. While at other side, rich people can pump it with their money.

[deisik]

I think it will be very difficult. total volume of bitcoin too much, and for me there is no one person who can do it.
if doing so is a community may occur. need money very much at all to do pumped and dumped bitcoin prices.

It is true that to pump and dump bitcoin price will require a lot of fiat or bitcoin but there are few whales who have thousands of bitcoin so they can move the market as they want for few $ dump and pump.

You don't even need the Bitcoins for the pump or dump, a big amount of dollars is enough.

Bitcoins are needed for the dump part while dollars for the pump part, in order to bootstrap the whole process either with a pump or a dump. You sell (a lot of) bitcoins and this drives the price down, you buy (a lot of) bitcoins with dollars and this drives the price up. Then rinse, repeat, as simple as it gets...

This is how this scheme essentially works

Well its just a  law of supply and demand of bitcoin. If supply increases with less demand and the volume of bitcoin goes higher then its sure that the price would go down and also if  bitcoins supply is low and demand is high then it would rise its price. In my own opinion.

It is not considered as a law (by economics), but technically speaking, yes, ultimately the price is determined by the balance of supply and demand. But to say that pump&dump (or dump&pump) is just the change in the balance of supply and demand (due to the law of supply and demand, if you please) is like saying that Bitcoin is a collection of processor instructions structured into an executable program code (the latter is also technically correct). While, in fact, it is more about psychology, namely, human emotions such as fear and greed...

And exploiting them for the sake of provoking panic selling or panic buying with the purpose of making profits