Bitcoin Whales Are Selling BTC Before Market Crash: Peter Schiff

[supercanada1]

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.

For a person who is fond of technology and enjoys its innovations, Peter is more or less like any random person because we don't really care about his perceptions. He has this habit of looking at the bad side only. Everything has its own pros and cons. Why can’t he just be a bit more optimist and relief to everyone? Bitcoin has helped people financially, saved them from troubles but here he is, just uttering nonsense.

[SaShiRaJaVu]

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?

If the market is not regulated you are bound to expect some players getting attracted to the market and start to manipulate the market, we have seen those in the stock market in the past and if you find market that have no consequences if they manipulate then they will not hold back and they will try their maximum to extract the best profit they can have.

[CryptoBry]

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?

There is no point in denying the existence of manipulations in the cryptocurrency industry and I think in almost all industries and even in highly regulated environment, there will always be that thing. The main difference is that here in cryptocurrency, these can easily be known and traced.

Now, as a simple guy with only a little Bitcoin under my semi-control, there is nothing I can do to help this problem. And in fact, because I can also benefit a lot of there will be the same manipulation that can result into another rise of Bitcoin, I would not be making any complaint. Let those who are planning to manipulate the market do whatever they wanted to do using their power and influence. In other words, I do not care at all.

[error08]

Obviously, when bitcoin whales sell-off, bitcoin price will crash, they are the main reason why it happens in the first place.
Even in the regulated crypto market, whales can dump all they've got, no one can forbid whales to sell their assets, it's a free market.
In a small market capitalization, manipulation is inevitable, but it will change as time goes on after more adopters hold bitcoin.

[fiulpro]

Been 3 days already and I think the amount of Bitcoins being sold is kind of balancing the amount of Bitcoins that are being Brought therefore I think , it will go fine even if they decide to sell a huge amount of Bitcoins , infact I don't think they will do that though since more or so , if they would have done that the market would have crashed already .
Let's just hope it's a hoax .

[Google+]

I think the price of bitcoin at the exchange has nothing to do with Peter Schiff, because I feel he is only one of the people who are predicting the ups and downs of prices and all who do that I feel can be inaccurate and just guessing, bitcoin will never be predictions will have price movements where it depends on demand from the exchange place.

[Kambal2000]

Obviously, when bitcoin whales sell-off, bitcoin price will crash, they are the main reason why it happens in the first place.
Even in the regulated crypto market, whales can dump all they've got, no one can forbid whales to sell their assets, it's a free market.
In a small market capitalization, manipulation is inevitable, but it will change as time goes on after more adopters hold bitcoin.

Yes, so we should know what we will be our strategy too when this happens, we should know how to read the market, for most holders and investors, once they have seen that the whalers are selling then they also selling their Bitcoin and converting it to stable coin, they are just buying again once the price of Bitcoin becomes stable and no more drama from those manipulators, if you know how the market works, for sure you will not panic and you will know how to take advantage too.

[buwaytress]

Seriously, there's nothing ruthless about shattering these dreams... because if there are Bitcoin people around who don't realise yet how the market is (or naively think the market's all nice and open and free), then they probably need to get dreams shattered.

I personally think guys like Schiff do more for Bitcoin than against -- if it wasn't for the fervour with which people attack Bitcoin so much, others wouldn't want to look into it. You think there aren't people attacking Visa? USD? SWIFT? PayPal?

Anyway, if Bitcoin whales don't sell, where are we gonna get our cheap coins from?

[kapalmabur]

I think the price of bitcoin at the exchange has nothing to do with Peter Schiff, because I feel he is only one of the people who are predicting the ups and downs of prices and all who do that I feel can be inaccurate and just guessing, bitcoin will never be predictions will have price movements where it depends on demand from the exchange place.

many people have guessed bitcoin and predict the price but many have missed it,
in the telegram there are some BOT about bitcoin transaction information, we can see it there, if there are transactions with a lot of bitcoin we can predict whether the market will decline or not, that I think it's very helpful, I don't know if whales really sells all bitcoin, but we can see transactions so don't worry, we just follow the flow

[jrrsparkles]

We have to say like this "market gets crashed after whales selling their bitcoins",its nothing new to the bitcoin and its capable of manipulating with huge buy or sell orders in the desired phase they want to move but economist can't predict the manipulations unless they are one of a bitcoin whale.

Anyway what's his point to the people by making prices get manipulated,wants everyone to stay everyone from bitcoin market or he is saying about whale's strategy?

[BChydro]

indeed many have been helped financially by bitcoin, but many people have fallen because of bitcoin. I think in this crypto world, who can take advantage of opportunities, it is he who can benefit from bitcoin. therefore study the world of crypto carefully, before we enter it

If you are aware of the market and have the basic knowledge to evaluate the market then you will not end up in a loss and if anyone lost money because of bitcoin then there is no way they are fit to trade in a volatile market like bitcoin, taking care of opportunity means you need to learn about the market first and monitor the market for a long time and learn the past charts and if you do these basics then you will not end up in a loss and if you are lazy enough to do those basics then no one can help you.

[serjent05]

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 am pro Bitcoin so definitely I do not agree with Peter Schiff.  He is so biased when it comes to Bitcoin and very biased when it comes to gold.  I believe the current price surge is not manipulated and the price is just getting normalized because the previous dump was the one manipulated one and the dump  cannot be sustained, that is why Bitcoin rally in just a short period of time.

[daarul50]

Been 3 days already and I think the amount of Bitcoins being sold is kind of balancing the amount of Bitcoins that are being Brought therefore I think , it will go fine even if they decide to sell a huge amount of Bitcoins , infact I don't think they will do that though since more or so , if they would have done that the market would have crashed already .
Let's just hope it's a hoax .

you don't need to wait 51% attack to manipulate the market.

20% or 40% combined from several people is enough to make a lot of people panic and following what they do, at this point it seems they successfully make it happened, to bring the sheep go down first and when there a lot of people selling it already, they do buying all at once that causing surges more than 30% nearly 40% i guess.
it is something that we cannot avoided to feel or think that there is a market manipulation happening.

[dothebeats]

While the dude may have differing opinions on bitcoin from the rest of us, he's actually talking some sense when he said that bitcoin whales are selling off firstly before everyone else noticed. Usually the whales are the market movers, and tend to do the first move before everyone else follows suit. It's a rather crude observation but he's correct and there's nothing wrong with it, although the difference is he tends to end at that notion without giving out some positive credit to the crypto market.

Manipulation is rampant in bitcoin, and if you deny it wholeheartedly and only applaud the gains and not the losses, then you're clearly deluded.

[supercanada1]

I think the price of bitcoin at the exchange has nothing to do with Peter Schiff, because I feel he is only one of the people who are predicting the ups and downs of prices and all who do that I feel can be inaccurate and just guessing, bitcoin will never be predictions will have price movements where it depends on demand from the exchange place.

many people have guessed bitcoin and predict the price but many have missed it,
in the telegram there are some BOT about bitcoin transaction information, we can see it there, if there are transactions with a lot of bitcoin we can predict whether the market will decline or not, that I think it's very helpful, I don't know if whales really sells all bitcoin, but we can see transactions so don't worry, we just follow the flow

No one is that stupid, especially whales. These are the people who like to be called as the owner of world’s most precious things. Bitcoin is now above all of other assets. It is impossible that whales will leave bitcoin. They never did. If any of them would commit such stupid act, he will be losing his present position. Such acts cannot hurt bitcoin for sure. If one whale leaves, other will takes it place.

[wxa7115]

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?

While I have always been cautious about he opinions of those that very clearly have opposite goals than the ones bitcoin has, I think that Peter Schiff has a point, the recent market recovery may have been good news for those which love to speculate with the price but I do not think it is good news for long term holders, the move looked manipulated to me, and then I asked myself what was the point of the manipulation? And most likely this was orchestrated by the whales to give themselves more time to sell their coins.

This way they can sell for a high price while everyone is holding expecting even greater returns only for the price to crash close to the levels it was before all of this happened.

[exstasie]

I personally think guys like Schiff do more for Bitcoin than against -- if it wasn't for the fervour with which people attack Bitcoin so much, others wouldn't want to look into it.

Totally! I think Peter Schiff is a huge positive for Bitcoin. He talks so much shit because he knows Bitcoin's properties make it a great competitor to gold. What he doesn't realize is that constantly exposing his followers to Bitcoin will eventually turn some of them into converts. After all, gold bugs have a lot in common with bitcoiners: they want a limited supply store-of-value to hedge against fiat devaluation. Bitcoin fits that description perfectly.

[samcrypto]

We have to say like this "market gets crashed after whales selling their bitcoins",its nothing new to the bitcoin and its capable of manipulating with huge buy or sell orders in the desired phase they want to move but economist can't predict the manipulations unless they are one of a bitcoin whale.

Anyway what's his point to the people by making prices get manipulated,wants everyone to stay everyone from bitcoin market or he is saying about whale's strategy?

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

[EdenHazard]

While the dude may have differing opinions on bitcoin from the rest of us, he's actually talking some sense when he said that bitcoin whales are selling off firstly before everyone else noticed. Usually the whales are the market movers, and tend to do the first move before everyone else follows suit. It's a rather crude observation but he's correct and there's nothing wrong with it, although the difference is he tends to end at that notion without giving out some positive credit to the crypto market.

Manipulation is rampant in bitcoin, and if you deny it wholeheartedly and only applaud the gains and not the losses, then you're clearly deluded.

People sometimes talking that it's the market manipulation for the sake of some fairy tale story even they knew they can't prove it. Okay let's say someone with 10,000 bitcoin in his wallet are continuously selling bitcoin in the market for 10 days consecutively with no intention to manipulate just wanted to sell it all... where people tired with the market being stuck for over 5 months , what do you think the market response on that 10,000 bitcoin sales?

Of course there's a little number only who can stay buying the coins while the one who selling his 10,000 bitcoin is still trying to sell it at it's best price. At this point the market slowly forming into a bearish trend .... so is it called as a manipulation now? That would always be a mystery what is actually those whales looking for with that move? Then we are simply sum it up as a manipulation price in purpose which it's pure speculation.

[uray]

Totally! I think Peter Schiff is a huge positive for Bitcoin. He talks so much shit because he knows Bitcoin's properties make it a great competitor to gold.

It is not a good comparison to make as both have their importance and gold is historically used as a store of value and it will be like that for centuries and bitcoin is a new market which has many properties and i do not want to see that getting restricted simply as a store of value or a speculative coin, i want to see bitcoin as a currency first and a combination of everything.