alexey14 (OP)
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January 03, 2020, 09:14:41 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
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AjithBtc
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January 03, 2020, 09:22:35 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
Agreed, bitcoin price is being manipulated by a small group of large volume of bitcoin holders simply termed as whales. These people hold the majority of the bitcoin into circulation which is the reason for easy manipulation. Even with such a big volume the market is manipulative to limited level, beyond the same the market won't react. This is what I understood out of the market pump and dump caused by whales.
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Blockfer
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January 03, 2020, 09:26:25 PM |
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I don't think you'll find many individuals claiming that the market is not manipulated. That being said, most people don't realize how many variables there are in addition to these groups of people that effect the price. Governments, regulations & laws, news, etc.
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abdobe
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January 03, 2020, 09:37:56 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
Yes, this can be manipulated, but for what? Whales get a steady profit from Bitcoin volatility and I am 99% sure that none of the whales will destroy the market. It is not profitable, it will bring loss, therefore it will not happen
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ntsdm1
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January 03, 2020, 09:56:52 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
Yes, this can be manipulated, but for what? Whales get a steady profit from Bitcoin volatility and I am 99% sure that none of the whales will destroy the market. It is not profitable, it will bring loss, therefore it will not happen I’m thinking about this: all bitcoins, assuming that whales want to sell them in large quantities, simply can’t be exchanged at exchange offices. There will be panic in the market and exchange offices can suspend their activities. Is there such a possibility? In any case, responding to the post, most likely the whales simply will not be interested to bring everything down.
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todiboa
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January 03, 2020, 10:18:21 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
It is a known fact that there are large players with a dominant number of coins. However, so far I have not seen any manipulations that would destroy the crypto market. It is still alive so dont worry
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Yudhisthir
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January 03, 2020, 10:23:55 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
Every markets are manipulative to some extent. Bitcoin has become one of the less manipulative but as there are fewer restrictions, the changes could be volatile. I don't think a single or a group of whales would be able to move its price the way they want. They might be successful on most but they as bitcoin is one of the most decentralized value, the market sentiments have the larger role to play.
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zviadits
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January 03, 2020, 10:29:10 PM |
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Yes, this can be manipulated, but for what? Whales get a steady profit from Bitcoin volatility and I am 99% sure that none of the whales will destroy the market. It is not profitable, it will bring loss, therefore it will not happen
If they are in group of whales and making an organized sell or buy order to manipulate they could take advantage of the whole market. You see there are many panic traders aswell who aren't really experienced in trading and rather making trade orders simply based on fear. I'm sure the whale are trying to target those kind of people because that's the easiest. Whales live off small panic traders. Two years ago, we saw how whales can hit a jackpot when Bitcoin grew to 20k and collapsed at once in a flash. Its just needed to be careful and trade with a cold mind.
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MURONDI
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January 03, 2020, 10:41:24 PM |
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Such things are common in the trading world, the forex market, the stock market, are all manipulated, until someone illustrates that the trading world is like the law of the jungle, the strong who hold the reins, we as small traders can only take advantage of the opportunities that exist.
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the rise
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January 03, 2020, 11:02:21 PM |
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Such things are common in the trading world, the forex market, the stock market, are all manipulated, until someone illustrates that the trading world is like the law of the jungle, the strong who hold the reins, we as small traders can only take advantage of the opportunities that exist.
the free market system cannot be far from manipulation, in the stock market it can still be several times linked to centralized policy, but here everything is really pure sentiment from the crypto ecosystem. Several times whales take advantage of manipulation, but of course they are also still speculating about the sustainability of bitcoin for the long term.
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HarmonyA
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January 03, 2020, 11:14:11 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
This manipulators are inclusive of miners. They pay for media speculation which attract lots of people to buy, they they will dump causing disbelief in bitcoin. This make it look like pump and dump. Sometimes I still wonder if other countries who are not benefiting from bitcoin like china, would ever allow bitcoin achieve it full potential.
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bL4nkcode
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January 03, 2020, 11:59:46 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$.
Stop believing this already, if those whales are capable to make that digits, then when that had happened? Of course, none, only satoshi had this 1m+ amount of btc, and can trigger to move the price to a huge leap or drop if he still hold those. Actually, huge exchanges doesn't have that amount of btc. Bitcoin technology is great but Market is compeletly different story.
Every market does this with the people behind it, so its not new after all. Price will move once people keep trading, selling and buying btc, and can pump or dump once there's a news regarding to miners, exchanges, and government-related news connected to crypto or btc.
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bitcoinsocial09
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January 03, 2020, 11:59:54 PM |
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Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$. Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price. What I mean by whale? The person who have more than million Bitcoin. Bitcoin technology is great but Market is compeletly different story.
I think so bitcoin could be manipulated since bitcoin depending on its supply and demand in the market but still, it is not going to be easy to control the market surely money will be a big issue here since the bitcoin could probably cost a lot of money if you are going to buy a big percentage in the market I think a group of whales is able to control it.
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joinfree
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January 04, 2020, 12:00:10 AM |
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The OP is right in a way as some whales intentionally dump BTC on major exchanges and buy them at very cheap prices at smaller exchanges. This is the reason why you should not bother selling your BTC anytime you see the market fluctuate because you are only falling gullible to the games of whales. The funny thing is that they use bots in doing this so you definitely can't play this game with them, you just have to learn how to be patient till the price increases to an appreciable level for you to sell.
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LUCKMCFLY
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January 04, 2020, 12:23:03 AM |
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~snip~
In all speculative markets, both in the stock market as Bitcoin are whales or strong hands, they are the ones who move the market, they may not manipulate as you say, but act through its power of money, often the market It moves by action of people's emotions, it should not be forgotten that strong hands square their plans months or years in advance to execute and manage their movements in the market. I prefer to think that manipulation is in the media, news that speaks well or badly about Bitcoin, I don't know if they are the same strong hands, if you have many millions of dollars to move the market, I don't see any manipulation there. The strong hands that are bulls and bears, often fight each other and earn the most money to move the market in their favor, the market is like a jungle. It is preferable to think that everything obeys the Law of Supply and Demand, who has more money can move the market in their favor.
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meanwords
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January 04, 2020, 12:54:40 AM |
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I think you are overestimating the capabilities of a whale. Sure they have the ability to pump the price of Bitcoin but pumping it beyond $500,000 is absurd. If you do the math, they'll need to mass wealth at least 10 trillion dollars in order to do that. I agree that the market is manipulated in some ways but whales is just a part of it. There's miners, institutions, medias, and even governments that is trying to manipulate the price to their liking.
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princesspoppy
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January 04, 2020, 12:57:39 AM |
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Whales dump bitcoin's price to scare weak hands who are holding bitcoin for them to buy these bitcoins and earn big amount of profit from it. They will then manipulate the price of bitcoin to pump up in the market. This is their way of playing games with weak hands or maybe we can say an earning strategy in order for them to earn large amount of money as soon as the market goes along with their plan.
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diahsw
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January 04, 2020, 01:07:06 AM |
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in my opinion it's true, because those who hold bitcoin are too many, they are very influential on the market, so we are affected ... !!
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Yaunfitda
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January 04, 2020, 01:07:30 AM |
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I think this is not a secret. The problem is that we don't have names for those 'assuming' whales. You can read this news last April 2019: Massive Bitcoin Whale Triggered BTC Surge With $100 Million Order, Says Crypto Investment Firm CEO. So there's a pros and cons of whales swimming in this market.
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hatshepsut93
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January 04, 2020, 01:45:49 AM |
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Cool story, bro. But do you have any proof? Do you know the names of these whales, how many coins do they hold, what exchanges do they use, when exactly did they manipulate the market (with proofs, ofc)? There's always some degree of manipulation on every market, even those that are well regulated, but you are making claims that the whales can move Bitcoin thousands of percent up and down, and such claims require more than just words.
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