Bitcoin price is controlled not just manipulated but controlled

[bitbunnny]

Well, since so many users claim that the price and market are being controlled and manipulated I wonder where all decentralization and independency of Bitcoin have gone? Is there then any difference of crypto compared to traditional currencies and financial system? It seems that we are having two systems that are actually the same if all this is true.

[huu78]

I think only certain markets that use bots. Because their markets are deserted and bots are just to lure traders to trade on their marketplaces.
But there are also bots to manipulate the price so that they are tempted and suffer losses. So behind the bot yes because their market is quiet.

[barnes13]

According to the data "top 100 richest bitcoin addresses", there are 106 addresses that have 10,000-10,0000 bitcoin, it should be more than enough to control the market although it less than 0.1%.
Most of those 100 richest addresses belong to major exchanges like binance cold-wallet, huobi cold-wallet and bittrex cold-wallet and others probably belong to miners addresses.
The fact is even BTC163,664 binance cold-wallet only 0.9% of total coins, with only 0.9% the price in the exchange market (binance) can drop in a significant number, let aside 10,000 bitcoin, if it can be dumped to various major exchanges, the global price will be crash for sure.

Exactly!! In my opinion it doesn't depend on what percentage of people hold the most Bitcoin, but we can judge it from how much Bitcoin is held by 1 person.
If one person holds Bitcoin thousands of times compared to other holders, it is clear he can freely manipulate the market with the amount of funds he has.

[Wysi]

According to the data "top 100 richest bitcoin addresses", there are 106 addresses that have 10,000-10,0000 bitcoin, it should be more than enough to control the market although it less than 0.1%.
Most of those 100 richest addresses belong to major exchanges like binance cold-wallet, huobi cold-wallet and bittrex cold-wallet and others probably belong to miners addresses.
The fact is even BTC163,664 binance cold-wallet only 0.9% of total coins, with only 0.9% the price in the exchange market (binance) can drop in a significant number, let aside 10,000 bitcoin, if it can be dumped to various major exchanges, the global price will be crash for sure.

Exactly!! In my opinion it doesn't depend on what percentage of people hold the most Bitcoin, but we can judge it from how much Bitcoin is held by 1 person.
If one person holds Bitcoin thousands of times compared to other holders, it is clear he can freely manipulate the market with the amount of funds he has.

Yes that's logical as those users how has huge amount to bitcoin can manipulate the market it's not only the case of bitcoin or cryptocurrency market but it applies to other risk investment as well.  Basically it can be classified as one man greed or his tactics to earn more profit,  we cannot do much about this and the best we could do is we can avoid reacting to these situation.

[redsun114]

Group of whales or those early adopter or miner might be behind these manipulation, I don't think also bot is able to be controlled in such away it will determine the price. Bot are limited in operations it can't determine a lot unless operated by an individual that will input commands in a certain event. I will still just believe that it's due to a group that causes the manipulation that we certainly feel in a long run not just seconds.

It is not possible for Bots to actually do a perfect job of manipulating the market this way, it will still take human input for the market to be manipulated as much as it is being manipulated right now, and I think majority of the manipulation comes from whales and some financial institutions because they have the money that is needed to make the manipulation happen which is always to their own favor, and this we really cannot do much about it than to follow the advice of a mate that says we should try to actually flow along with the whales movement which actually requires the studying of the market carefully and also to be able to work with the technical analysis like the way traders does because it is through technical analyses that we can actually get the operation of the whales out.

[el kaka22]

I think bots are really not as little as people think they are. I mean I know just one bot that has 10k users and they have over 2k active traders all around the exchanges every single day. Yes, that is just one bot but we don't know how much they are using , maybe they are each using 1k satoshi, maybe they each use 1k dollars, maybe they use 1 btc.

So, if that is just one of them that means there are tens of them out there and some are bigger, some are smaller etc which equals to a lot of money going through just the bots. Considering there are whales and manipulators etc all of them combined make for a very very fake market, the people who buy and sell bitcoin manually because they want to invest or divest are probably closer to 10% of the real volume.

[Omega Weapon]

Well, since so many users claim that the price and market are being controlled and manipulated I wonder where all decentralization and independency of Bitcoin have gone? Is there then any difference of crypto compared to traditional currencies and financial system? It seems that we are having two systems that are actually the same if all this is true.

It is true that bitcoin is built upon the idea of decentralization but no matter what you do it will be impossible to avoid manipulation, humans are always going to try to get an advantage and they will always find a way to get it, whales have hundreds of thousands of coins and that is more than enough capital to manipulate the price of bitcoin, now they cannot manipulate the price completely as they want but they can exert enough control over the market to get benefits out of it.