Bitcoin Whales Are Selling BTC Before Market Crash: Peter Schiff

[tsaroz]

I've read his article. It might be true that whales and other investors are cashing out as it's festive time and a the prices are higher for the last 3 months average. But such cashout don't really cause a price crash. There are now huge resistance of long term holders. Many of them are not going to sell anything below 20K.

[vladimirhf]

Just look at the history of his predictions, of all the only predictions about the economic recession that occured in 2008 that really happened the rest is just nonsense especially about BTC, and it seems he is just a BTC haters who constantly make bad statements about BTC and Crypto to bring investment funds in BTC turn to gold.
Manipulation is always there not only in the BTC or Crypto market as well as in the gold market too, news for reference https://www.forbes.com/sites/greatspeculations/2019/05/20/yes-gold-is-being-manipulated-but-to-what-extent/#425548062865

he says this nonsense for the media because he has a financial interest in it. I don't think he believes in what he says, it's propaganda. recently he said that bitcoin is going to 1,000 usd... 

[xvids]

Well it isn't a surprise anymore ,
I have been thinking about it for so long and I believe that it's true,
The whales could manipulate or make the market move so they would always be first in line when the price moves.

[NathanJB]

Well it isn't a surprise anymore ,
I have been thinking about it for so long and I believe that it's true,
The whales could manipulate or make the market move so they would always be first in line when the price moves.

Well, anybody who knows or predicted that there is going to be a bearish day ahead will naturally sell their coins. But you know what, this is actually the reason itself why there is a bearish day. It is because people react to rumors. And who is Peter Schiff by the way? Do we have to listen to this man? This man is almost always Craig Wright when it comes to sanity. They both appear to have lost them. Peter Schiff is a Bitcoin hater. We should not even listen to him.

[1Referee]

The whales could manipulate or make the market move so they would always be first in line when the price moves.

It's funny how you refer to whales as if they're working together as group to manipulate the price to their advantage. It's not like that at all. In fact, whales aren't much different from you and me in terms of market outlook and whatnot. They just have more money to invest, that's it. Percentage wise, they lose out just as much as you do if the market turns against them.

Do you think whales all cashed out at a profit last year when we went from $20,000 to $3000? They got rekt just as hard as most people did, and some even harder as they provided buy support around certain levels the many sellers easily sold through.

An example of whales getting rekt are the dozens of +$10 million institutional crypto funds that had to shut down with over 90% losses. Amongst them there were even +$100 million funds that lost +90% of what they put in. If they just sticked to Bitcoin their losses woudn't be as severe.

[huu78]

It usually depends on market conditions like this. If it's a market when it's good and a lot of good news accompanies Crypto normally it's a natural demand.
But if the exchange is bad is usually a lot of manipulation of the big man or from the market manipulate it use their bots.

[ray_saeed]

This guy is spreading fud again and again

[o_e_l_e_o]

It's funny how you refer to whales as if they're working together as group to manipulate the price to their advantage.

This is something that always occurs to me whenever you see posts or threads on here or any other platform complaining about "the whales" manipulating the market. People seem to think that all these big players are working together to make money from the average Joe, like it's some kind of big conspiracy. There is a secret alert which goes off in your wallet when it contains more than a set amount of bitcoin with a link to a hidden "whale" forum". You have to sign a transaction from an address with more than 1,000 BTC to be allowed to join, and there they plot all their big market movements together, like some kind of secret pump and dump group.

If moving the market up and down was as easy as some people make it out to be, then why don't the largest whales collaborate to just swing the market up and down by 20% in the space of a few hours as they fancy and increase their holdings massively each time (and therefore make further manipulations even easier)?

Whales can affect the market, can amplify bull or bear runs, can cause big swings, sure, but they can't just move it up or down at will.

[deisik]

The whales could manipulate or make the market move so they would always be first in line when the price moves.

It's funny how you refer to whales as if they're working together as group to manipulate the price to their advantage. It's not like that at all. In fact, whales aren't much different from you and me in terms of market outlook and whatnot. They just have more money to invest, that's it. Percentage wise, they lose out just as much as you do if the market turns against them.

Do you think whales all cashed out at a profit last year when we went from $20,000 to $3000? They got rekt just as hard as most people did, and some even harder as they provided buy support around certain levels the many sellers easily sold through

Personally, I wouldn't use this expression in the given context

And not because I love whales so much but for the simple reason it is not truly applicable to them. It is us, simple folks, who might have gotten rekt in the last two years. But if you had, say, 20M dollars' worth of bitcoins at the end of 2017 (which you had probably bought at substantially lower prices anyway), you would still have millions at the end of 2018. In other words, you don't take into account the effects of scale here

That's the reason why the Winklevii twins and the fellas of their caliber needn't necessarily feel like they have been massively rekt, if at all. If you are a multimillionaire you don't shit your pants when your investment loses half of its value as it is not the last money you have

An example of whales getting rekt are the dozens of +$10 million institutional crypto funds that had to shut down with over 90% losses. Amongst them there were even +$100 million funds that lost +90% of what they put in. If they just sticked to Bitcoin their losses woudn't be as severe

I wouldn't call them whales as these funds are managing someone else's money (and someone else should be read and interpreted in plural here as in small fish)

[senne]

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.  

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.  

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

The best part is that the article ends with stating how his speculations never saw the light of the day.
Does his opinion even matter when none of his predictions were correct?
The best part is that he always been bearish on crypto and he never turned out to be correct. What I have noticed is that traditional investors are pretty much pessimistic when it comes to crypto currency. The problem is that fundamentals are really different when it comes to crypto and traditional assets. I don't think anyone who did well in stocks can be equally good in crypto trading.

[supercanada1]

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.  

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.  

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

The best part is that the article ends with stating how his speculations never saw the light of the day.
Does his opinion even matter when none of his predictions were correct?
The best part is that he always been bearish on crypto and he never turned out to be correct. What I have noticed is that traditional investors are pretty much pessimistic when it comes to crypto currency. The problem is that fundamentals are really different when it comes to crypto and traditional assets. I don't think anyone who did well in stocks can be equally good in crypto trading.

I also cant care less about what this person has to say or believes in. so far, he has been just babbling nonsense. If anyone is paying a bit of his attention, he is wasting his time and energy. Crypto trading is totally different from stock one. The rules of trading remain the same but the rules of asset change. It is not possible to succeed in the world of digital market with old school of thoughts.

[alexsandria]

He was clearly trying to claim something without a robust evidences. Totally not understable though, hate to say this but his claims are totally stupid. Although bitcoin was all about predictions and stuff but it ain't going nowhere near crash with his delusional thoughts about the market. Besides complete manipulating by whales are just half-true though.

[coolcoinz]

He said the market is crashing and Bitcoin is going to drop even more. Bitcoin drops and says he's amazed and it's because bitcoin market is manipulated by whales
So when the price is falling he's fine with that and the price is not being manipulated but when the price goes up against his prediction it's because of manipulation.
He should read this and think about what he's saying. He's like a kid who can't admit to being wrong. Another Craig Wright.

[carlfebz2]

He said the market is crashing and Bitcoin is going to drop even more. Bitcoin drops and says he's amazed and it's because bitcoin market is manipulated by whales
So when the price is falling he's fine with that and the price is not being manipulated but when the price goes up against his prediction it's because of manipulation.
He should read this and think about what he's saying. He's like a kid who can't admit to being wrong. Another Craig Wright.

Nothing surprises me if there were personalities who would just simply pop out and making their own insights and predictions towards bitcoins price.
They do say all the things they do have in mind but without even thinking sensibly if its self contradictory or not or just making themselves like
fools into the community. Manipulation can either happen while pumping or dumping.

[NathanJB]

He said the market is crashing and Bitcoin is going to drop even more. Bitcoin drops and says he's amazed and it's because bitcoin market is manipulated by whales
So when the price is falling he's fine with that and the price is not being manipulated but when the price goes up against his prediction it's because of manipulation.
He should read this and think about what he's saying. He's like a kid who can't admit to being wrong. Another Craig Wright.

Nothing surprises me if there were personalities who would just simply pop out and making their own insights and predictions towards bitcoins price.
They do say all the things they do have in mind but without even thinking sensibly if its self contradictory or not or just making themselves like
fools into the community. Manipulation can either happen while pumping or dumping.

Peter Schiff is not just a new personality in terms of this statements. He is not a random person who says his piece on the Bitcoin market. Peter Schiff has earned popularity or attention in the Bitcoin market because of his utter hate of the technology. Because of this, I don't think we need to respond to his statements as if they are worthy or objective. They are mostly hate-inciting statements against Bitcoin.

[darkangel11]

The only thing that will shut Peter up is another bull market. He's going to keep screaming that it's a bubble and a ponzi scheme until he loses his voice and his fingers go numb from typing and Bitcoin won't care. It will move forward and break all resistances on the way to another big top and the world will laugh at Peter.
The best way to battle naysayers is to keep proving them wrong over and over. Warren used to be very vocal and the longer Bitcoin lived the less vocal he became. Don't fight them don't discuss, prove them wrong and win with hard facts not arguments.

[Kersh768]

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.   

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.   

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

I think there's a huge possibility that it is right. We've seen bitcoin go to new highs and fall down really hard and if we are going to think it through, as the number whales continue to grow, the value of bitcoin falls down even more. Just like what happened last year, bitcoin had its highest value so far and nobody expected it to go down afterwards but if you would carefully analyze it, the probability is high since the current whales will gain higher profit and there will be new whales after that sudden growth of price.

[o_e_l_e_o]

He said the market is crashing and Bitcoin is going to drop even more. Bitcoin drops and says he's amazed and it's because bitcoin market is manipulated by whales

To be fair, there are more than a few users on this forum who are more than happy with price swings of 10-20% in a day as long as it is upwards, but as soon as there is a similar downwards movement they all start complaining about whales and manipulation. Can't have it both ways.

The only thing that will shut Peter up is another bull market.

Unlikely. In fact, I would expect him to become more vocal during a bull run. His entire business depends on convincing people to buy gold. During a big bull run, more people are going to be likely to abandon gold and move to bitcoin, and he'll need to be extra vocal to try to convince people to stay.

[shoreno]

I've read his article. It might be true that whales and other investors are cashing out as it's festive time and a the prices are higher for the last 3 months average. But such cashout don't really cause a price crash. There are now huge resistance of long term holders. Many of them are not going to sell anything below 20K.

whales are known to have a large quantity of funds so even if you say that their cash out was only small amounts for occasion use , those amounts that they think small are now already huge for us and its okay if one to two whales are doing it but what if they are alot of them ? not just whales but other types of investors do also sell so if we sum this all , it is really enough reason to cause a big dip in dip in the market .

[7788bitcoin]

To be fair, there are more than a few users on this forum who are more than happy with price swings of 10-20% in a day as long as it is upwards, but as soon as there is a similar downwards movement they all start complaining about whales and manipulation. Can't have it both ways.

Everyone likes a good movement in price when it is in the upward direction and during those phase no one will complaint about the whales moving the price higher because everyone accepts the price movement because of investors and when the price starts dropping everyone start crying about whales manipulating the market and we will see these cries in the next decade too  .