Is Bitcoin now Pump and Dump?

[nanaimogold]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

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[DarkDays]

Well I really don't think you understand what pump and dump means if you're accusing Bitcoin of being one.

Usually, a pump is a short, sharp spike in price which is designed to pull in retail investors and noobs, further pumping the price and allowing those that bought in early to cash out at a profit (dump).

Nothing about Bitcoin's current price action can be considered short and sharp.

[jossiel]

How long you have been sitting on your chair and watching the swinging of bitcoin from time to time? you have understood it that its price is determined by the supply and demand and yet you are now thinking that it is a pump and dump coin.

Why compare bitcoin to those pump and dump coins? those coins after pumping will certainly be dumped and can go to nearly zero volume. And traders have to profit, so it is usual to see people dump bitcoin for profit and rebuy afterwards.

[Pearls Before Swine]

You've got this thread in the wrong section.  You should move it to either the speculation section or bitcoin discussion, because it's not about altcoins.

But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases.

There are whales, certainly.  I don't think they're actively trying to manipulate the market tho.  The market cap is high enough that it takes a *lot* of bitcoin to move it.  And if the price of bitcoin goes up, it's going to take more fiat to keep moving it. 

There has always been speculation about these anonymous whales, but I never see any hard proof, just theories.  If anyone has any good evidence that whales are manipulating the market for whatever reason I'd like to see it.

[Smitty Werben Man Jensen]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

Bitcoin won't be ruled and not be the tool by the whales for too long, rest assured, Bitcoin is still very young to see the future, if you already knew bitcoin in 2009 you wouldn't feel like this.

[htsy585]

I am not really an authority on this issue and will likely give a response based on my perspective. Bitcoin is truly young and you might have judged it harshly because of your past experience but I am certain it will come good soon or later. It is at the epicenter of this whole cryptocurrency thing

[Capt00]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

Bitcoin won't be ruled and not be the tool by the whales for too long, rest assured, Bitcoin is still very young to see the future, if you already knew bitcoin in 2009 you wouldn't feel like this.

We can't imagine how the price of bitcoin turns like this, it is really far from the start and I don't know why people keep asking like this.
Prices are folded by so many times but people never think that because they only looked at what they got today. But I understand why they are bothered the current situation, they are late investors and probably they are investing when the price is already high which gives them huge struggles.

[SolarWindMiningCompany]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

Bitcoin won't be ruled and not be the tool by the whales for too long, rest assured, Bitcoin is still very young to see the future, if you already knew bitcoin in 2009 you wouldn't feel like this.

We can't imagine how the price of bitcoin turns like this, it is really far from the start and I don't know why people keep asking like this.
Prices are folded by so many times but people never think that because they only looked at what they got today. But I understand why they are bothered the current situation, they are late investors and probably they are investing when the price is already high which gives them huge struggles.

I agree. Maybe Op has been hurt. But The sharp pullback is likely no surprise to traders as Bitcoin has been ranging lower at each daily close with previous supports at $6900 and $7,150 flipping to resistance over the weekend. The fact that traders are buying into the dip suggests that many view the drop as an opportunity to open long positions or accumulate more Bitcoin. Let's focus on the future!

[shinratensei_]

you are taking the speculation as a serious thing dude. bitcoin is a pump and dump coin since it was created caused by its volatility. this time, bitcoin doesn't have a good fundamental. The market has already given a very bad reaction that makes bitcoin can't stand its position even longer.
You must understand what was the volatility is. I guess you will know better about that.
People these days so crazy about that to create a lot of non-sense speculation about bitcoin without realizing the fact if the market doesn't have a good fundamental to pump the price of altcoin or even bitcoin.

[leatutz]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

Bitcoin is now dumping when whole cryptocurrency is decreasing. Bitcoin could plummet till 6K then again pump till 30k USD next year. In some prediction marketcap could reach 5 trillion next year. Prediction of Bitcoin don't work, but approximately this is another little bear of next year cryptocurrency.

[cytpoway121]

It is true that in 24 hours bitcoin has gone up to 9k+ and also back to 6k +
But that isn’t enough proof that it is a pump and dump token

Likewise; it doesn’t proof any vulnerability
It’s Christmas season; and I believe few holders were converting their profits to cash to have a fun fare

NB: just my opinion

[Bonwin]

Yes, that is true? I have not seen any coin,  inasmuch as it is crypto, that it cannot or will not be subject to manipulation, bitcoin inclusive. Although, one thing I have always believed about bitcoin is that, no matter how it falls, it will rise again. There are lots of expectations on it. So, if you see it fall, it is an opportunity for you to make profits.

[heidikim]

Bitcoin is now experiencing a calmness. Bitcoin may re-enter the upward trend. However, there is a possibility of falling. It's best to manage by dividing the portfolio. You need to plan your positions when you're out.

[Jating]

I have watched this space for a couple of years and while on it, I felt that bitcoin prices are usually driven by global supply and demand which is a factor of real world usage. But recently, I have also gotten another perspective that bitcoin might just be a tool in the hands of a few whales, manipulated for quick and short gains on daily bases. If that's the case, as we near $6500/btc and even lesser as analysts suggest, when then do we see $100k/btc or its just a hoax to keep the pump and dump pendulum swinging

Bitcoin maximalist here doesn't want to call a pump-and-dump coin,  , it's not on their vocabulary.

But we have to understand that the whole narrative has changed, it is not being treated as (1) store of value, (2) currency/medium and (3) investment vehicle.

So it became a speculative asset, so occasional pump and dump can't be avoid specially that there are many whales around that also play around the ecosystem.

[Adriano2010]

I don't think is pump and dump, this drop is caused because a lot of people sell it because need money for holidays, and this will happen every time on holidays because many people want relax and sell their crypto coins.

[TravelMug]

I'm not going to BTC consider it a pump and dump scheme:

Usually a coin that is pump would have crashed in matter of days, we haven't seen that in BTC, on the contrary, it can quickly recovered. One trait of bitcoin is that it is so resilient to FUD, that it can quickly bounce back. No other coin/token has that capacity, once the dump happens, it will take months and months before it will be pump again, that is not the case on bitcoin.

I would agree that there are whales, but I don't see them conniving to practice this so called pump and dump in the market. They could only manipulate the price at a certain level and after that, free for all.

[Johnyz]

Ever since bitcoin is pump and dump and if you look at the history price, every year you will see a big pump and dump. Look at the chart every year for the last five years and you will see that bitcoin always go up every time it falls and the trend is really going up. The volatility is high and that's why the price goes up and down, and the demand for bitcoin has increased.

[Kotone]

Pump and dump is a relative term for coin and token  which are manipulated in the market well if that's the case then bitcoin is PnD coin but it doesn't mean that it would be such as non useful platform. Everything in the market is PnD cause whales can easily manipulate it as long as they have huge fund to play with it

[yulionoo]

in my opinion the price of bitcoin can indeed be manipulated by the popes but not for long. bitcoin remains decentralized and the ups and downs of bitcoin prices are determined by demand and supply. and I think right now we are still in the bear market so bitcoin continues to decline.
I am optimistic that next year after bitcoin is reduced by half it will pump and enter the bull market.

[Kupid002]

Bitcoin is the first crypto and we all know that the price is only base on its demand, whales can Manipulate it but it will not work for long ,since they are many people holding it already and to manipulate the price you need to have more supply of it and need to looks also from different market and different price to make the pump and dump happen.