Bitcoin's Latest Rise Was Manipulated?

[salamat700]

Dramatic, amazing and unbelievable are some nice words that described the latest rise in the price of Bitcoin and especially so when it was hovering for days at mo than $7000 and people were wondering if Bitcoin will be going down further to $6000 or will it break through the boring situation.

Then all of a sudden it made some burst even reaching more than $10,000 and people scrambled to find what can be the reasons behind the amazing surge. While there are those who linked the statement of China's president on the blockchain, there are also who are looking at the possibility that this movement is actually just manipulated.

Right now, Bitcoin is back at $9100 per CMC and seems to me like is taking some rest for a probable another big dip. Do you believe that this is just a manipulation and because of that it could not hold on to the $9000 price?

[Wexnident]

Well, we can't really be sure about how the price pump suddenly happened. Could be as you said, china's involvement, some said it was Bakkt and some said whales' manipulation of the market. One thing could be sure though, such sudden pump would see a stabilization in the near few days since it seems such pump has no foundation to stand and retain its position. I'd expect it to go back to less than 9k and stabilize its price there.

[dragonvslinux]

The market is always "manipulated" long and short. Usually with longs and shorts. The idea that the price can easily be moved 20% in a day with a single pump or dump, two days in a row even, should make it obvious to anyone by now. This isn't the first time and it won't be the last.

Bitcoin futures exchange Bakkt also reported the highest daily volume today. Bakkt saw a trading volume of 1131 BTC. The sudden pump could be a clear sign of market manipulation as bitcoin surged through all technical resistance in no time at all.

[Pearls Before Swine]

This isn't the first time and it won't be the last.

Bitcoin futures exchange Bakkt also reported the highest daily volume today. Bakkt saw a trading volume of 1131 BTC. The sudden pump could be a clear sign of market manipulation as bitcoin surged through all technical resistance in no time at all.

Definitely not, and the quote above may have something to do with it, but without knowing what all that Bakkt volume was all about, nobody can really tell what caused this jump.  I'd be hard pressed to say that it was just a flurry of buying that came out of nowhere, because there hasn't been any real news or even rumors that would drive that sort of thing.  Seems like it would have to be one or two big market players doing a lot of buying, perhaps with options on Bakkt.  Who knows?

I'm not complaining, tho.  I also don't expect the price to stabilize where it's at right now, but a break to the upside is much better than the alternative.  I expect there are a lot of traders right now that are really happy.

[tinyteapot]

Btc is not just an ordinary crypto that we can simply conclude that its price has been manipulated without proper public evidence.

We need to understand that btc market domonance and value can not make it an easy beast to tame.

I am also eager to know the reason behind the upsurge but i will not subscribed to mere words but concrete evidence(s).

[Darooghe]

In my opinion BTC is manipulation. If you and some of your friends have about 300,000 BTC between each other, and can move the market by selling off 50,000 BTC which means you can then buy more BTC for cheap wouldn't you? your answer is obvious, because it's basically free money.

I personally believe a lot of the parabolic movement in the Bitcoin is initiated by whales (especially alts), If you bought BTC a long time ago and if you hold about 100,000-500,000 BTC you can very easily cause the market to panic by selling off chunks of your BTC. Panic causes prices to dump further (like two days ago) , then you buy your BTC back plus more BTC for what you sold it as. hence, follow the whales game. i would to add a additional point that you should also consider the china news about blockchain. it was the best news for Bitcoin and Crypto ecosystem.

[Botnake]

Manipulation is not new in crypto world, if you know how to play the game, you'll be able to benefit from this manipulation.
There is a big rise, it was the biggest rise in just one day since 2011 and I am optimistic this will help a lot for bitcoin to end this year with a great price.
It has a momentum now, I am not anymore expecting a dump and I also like what I am seeing on the altcoins market.

Lets bring that FOMO again. 

[fabiorem]

Who sold at the bottom?  

[error08]

The market is always "manipulated" long and short. Usually with longs and shorts. The idea that the price can easily be moved 20% in a day with a single pump or dump, two days in a row even, should make it obvious to anyone by now. This isn't the first time and it won't be the last.

Bitcoin futures exchange Bakkt also reported the highest daily volume today. Bakkt saw a trading volume of 1131 BTC. The sudden pump could be a clear sign of market manipulation as bitcoin surged through all technical resistance in no time at all.

Indeed, but to have such huge tide in a short time really intrigue our curiosity, what happens? who did it? who brought millions of dollars to the market?
Manipulation like this will end with another massive dump, "they" will wait until the price reaches a certain point to dump it like happened in last month when bitcoin tumbled $1000 in a few hours.
Look at this; https://twitter.com/whale_alert/status/1188023888346783747
https://twitter.com/whale_alert/status/1188006277936570371
Since whales keep moving their funds in and out, we can't be so sure when they will make another "action".

[Mahanton]

Dramatic, amazing and unbelievable are some nice words that described the latest rise in the price of Bitcoin and especially so when it was hovering for days at mo than $7000 and people were wondering if Bitcoin will be going down further to $6000 or will it break through the boring situation.

Then all of a sudden it made some burst even reaching more than $10,000 and people scrambled to find what can be the reasons behind the amazing surge. While there are those who linked the statement of China's president on the blockchain, there are also who are looking at the possibility that this movement is actually just manipulated.

Right now, Bitcoin is back at $9100 per CMC and seems to me like is taking some rest for a probable another big dip. Do you believe that this is just a manipulation and because of that it could not hold on to the $9000 price?

Manipulated or not, no one can point it out because price is always been unpredictable where it can pump and dump in a matter of seconds,minutes,hours and a day.
We have seen too much increase for a matter of 24 hours on btc price which it do whoops for 37% on  a matter of a day.Neither which angle you would look
at then it would really looks like its being manipulated but who cares? As an investor if you do know on when to get profit or get out then thats the important thing.

[blckhawk]

I personally think the price of bitcoin is most of the time manipulated rather than pure crowd's demand surge. These whales are manipulating the market to their advantage, and we may see the waves come back at us and these whales starts dumping while people would still think it's just temporary dips. I can't see strong correlation with China's recent statement since it is only for blockchain and they're still against Bitcoin usage.

[Oceat]

So you think this is just a bear trap?

But who would want to sell at the bottom when the price is leading to losses?
Although I don't really know what occurs in this sudden bull run but I assume that China's embracing again in the blockchain technology makes a sudden burst of the price.

[Murat]

Probably. People who shorted bitcoin lost & people who went long lost as well. You need to go opposite of the market to make money. Though everyone said the recent move was because of the Chinese president's speech but I don't think so. I think it was a bull trap for the final exit. The market is too weak it can't handle buy pressure over $100M. Someone with a few hundred million can easily move the market with their needs. History says the fast bitcoin price move up it falls more than that speed. As you see we went up over 3000 USD in 24 hours & down 1000 USD in a few hours. Bitcoin is something that can change the finance area so I would let these people manipulate the market & I would hold my bitcoin.

[kolonel_x]

With the rise in price of bitcoin there is indeed a lot of controversy because with this significant increase makes people ask questions,? is this a true whale that manipulates the price of bitcoin? but it cannot be ascertained that the experts cannot prove it, which is clear to me no matter this is manipulation or because of the statement of Xi Jingpin or others, what is clear is that this significant increase is profitable for me.

[bitbunnny]

Seems that some people are never satisfied. No matter if the sudden dump or pump is in question they always think there must be some kind of manipulation involved.
But I would really like to know then who are what is manipulating Bitcoin and how is this done, why in certain moment? And of course I would like an explanation how does manipulation fits into independent and decentralized Bitcoin?

[Google+]

I don't think that's right, the price of bitcoin today could have increased because I have good news from the founder and developer of Twitter who said to buy bitcoin so many people bought bitcoin including Twitter founders so that it could have a good impact on the price of bitcoin.

[ashmodeus]

there are also who are looking at the possibility that this movement is actually just manipulated.

Right now, Bitcoin is back at $9100 per CMC and seems to me like is taking some rest for a probable another big dip. Do you believe that this is just a manipulation and because of that it could not hold on to the $9000 price?

its must be a crazy people with level 99 of crazyniest to make manipulation like that.
u know why ? because he/she/they put a money around $42 billions to the market.
and of course , its not manipulation scheme, its totaly pure by market demand from some positive sentiments.
and probably u ask why price going drop now ?
of course, someone overthere have been waiting for times like this to sell their asset.

[bitgolden]

I would not conclude that the result was a manipulation until further notice, because this rise came exactly when the president of china made a very positive statements regards his intention to actually slow down on their ban on cryptocurrency and probably Blockchain projects, and I think this must have built the confidence of people back, and especially that of china to start putting money into the market again, which I think this was the reason why the value of bitcoin spiked within the hour of the news, but other than that I don't see the reason why bitcoin actually went that high and I think that either this news or the whales could have manipulated this, but I do hope that the value will actually stay at this now, so that we can break more resistance.

[CarnagexD]

I do not have any idea if the price of bitcoin really manipulated by someone. Maybe some of the member here say that it was manipulated because as you can in a short period of time the price really goes up and it spike up to 10,000$. But for me, the president of china is also the reason why the price become high and just a couple of hour the price remain at the price of 9000$+.

[watergold]

I do not have any idea if the price of bitcoin really manipulated by someone. Maybe some of the member here say that it was manipulated because as you can in a short period of time the price really goes up and it spike up to 10,000$. But for me, the president of china is also the reason why the price become high and just a couple of hour the price remain at the price of 9000$+.

Has it become a lot of reasons just because his speech that talked about the bitcoin blockchain has increased in a short amount of time? well after the trend has passed and the price of bitcoin is now $ 9,200 whether bitcoin will increase again or go down? I think this is still a question mark and experts haven't given a prediction at this time.