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July 07, 2021, 08:00:12 AM Merited by Symmetrick (1) |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
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Kong Hey Pakboy
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July 07, 2021, 08:05:04 AM |
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That can only mean that the prices are going to go in a constant up and down since whales are buying back and forth. Plus, it's not like the market volatility won't be cancelled out, maybe it will be much less volatile than it ever was. Also, if everyone follows how whale operates, it will work on the favor of the whales because by the time the people knows about it, it has already happened.
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aoluain
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July 07, 2021, 08:26:08 AM Last edit: July 07, 2021, 08:40:00 AM by aoluain |
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If and when Whales buy and sell Bitcoin they do infleuence the market because people generally, particularly newbies will act on such published events through FOMO. Traders also would be looking to take advantage of the market movements. These groups Whales and traders can act on some peoples emotions particularly weak hands, which can affect the markets.
People who have a bit more experience in the space and looking to the long term will know not to act on such events.
Whales and Infleuential peoole can only affect the markets to a certain degree, its people who follow these people who amplify and compound the movement.
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amishmanish
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July 07, 2021, 09:00:19 AM |
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I think the OP is concerned that Bitcoin prices tend to rise and fall based on words from influential whales. He is positing that they can thus raise and crash the price whenever they want and make profit by buying and selling accordingly.
This perception may have gained ground due to the effect that Musk had in the last few months. Yet, most Bitcoiners are fed of him and nobody is paying much attention anymore. Elon is an aberration as he could have done this to anything else, not just Bitcoin. The TSLA stock has been overpriced so long because most people believe that anything that he says is perfect. I don't think there are too many such whales that have such an influence or the war-chest of BTC and Fiat to manipulate the price at will.
So, to answer you, Bitcoin isn't some shitcoin and its price cannot be manipulated by some central authority talking good or bad about it. There are enough people in the market with their own factors for deciding on when to sell or buy BTC.
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Tytanowy Janusz
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
There is always a bigger fish. Even if you are the richest guy on earth ... you will not bet all your money on 1 deal and someone can squeez you using leverage. What I'm saying is that if "influential" people will try to mess up with market ... soner or later they, and all their followers will hit massive wall, megalodon will eat whale and small fishes that fallow him. He will set huge wall that will stop all buy/sell pressure, without pump after news people will start to sell killing price. What I'm saying is that its not that easy to manipulate market in long run.
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Cryptoangel01
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July 07, 2021, 09:03:56 AM |
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Changes nothing, Grayscale has been buying, Elon bought one time, Tesla added to the books. Apple almost did the same. Even Michael Saylor is a big proponent of BTC even today, but has that changed the trend of strong sell when the time comes? Just like what you have with $60k top sell? Well, I am concentrated on making them BTC on Earnbet when I am not trading. Goodluck to BTC at 100k
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kryptqnick
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July 07, 2021, 09:19:00 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
If there are more influential people buying BTC and then selling it, I think the market will actually become less easy to manipulate. I know it sounds counterintuitive, but let me explain. When we have one guy in the spotlight (like Elon Musk), whatever he says about cryptos has some immediate short-term impact on the prices. It's more noticeable with altcoins, but big announcements affect Bitcoin as well. But if there were 20 guys like Elon Musk, then the attention of people would disperse, and people would also get more used to the riches trying to manipulate the prices and would fall for it less. So I think it would be a good thing overall.
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sunsilk
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July 07, 2021, 09:24:28 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes?
They promote what they've bought but only a few of them wants to promote market changes just as Elon that seems to be important in this verse. If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
The crypto market is decentralized, it's free but they don't have the authority to control it wholly. The market won't be over, there will be some coins that will have its end but the entire market to end, it won't.
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mk4
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July 07, 2021, 09:27:20 AM |
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A certain "influencer" can only have so much effect on the markets. Take a look at John McAfee(RIP) being a perfect example. Initially, his effect was so huge that coins he mentioned were growing by 3x in no time. But as time goes, as more and more coins he shilled, his effect was slowly but surely getting smaller and smaller. Because while there will always be naive people buying shilled coins on Twitter, some people will see through the BS.
As with Bitcoin though? An individual wouldn't move the markets that much due to bitcoin having the highest market liquidity out of the cryptocurrency markets in general.
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NeuroticFish
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July 07, 2021, 09:33:50 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes?
Possibly, but their agenda is not necessarily to help you. Some will even bash Bitcoin in the news and their companies may buy or develop towards bitcoin. You expect too much from people don't care at all about you (or me). If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy
Most influential/whales/corporations will use specialized companies for handling crypto for them. It has no relationship at all with "free and easy". It may have some relationship with how crypto is "seen" by the law and finances. Although the market needs volatility, is this kind of random volatility still meaningful?
The volatility is clearly not random. FUD, fear vs greed, news actual buys and sell off, all do have their part in the game. For example, I would not be surprised if some exchanges feed the volatility to help increase the daily volumes (and the fees they receive on those volumes).
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avikz
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July 07, 2021, 09:46:07 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
We have already seen two such incidents of market manipulation by influential people. First was Jemie Dimon and Warren Buffet and second was Elon Musk. So we can't deny this fact that influence does work in crypto space, whether its positive or negative. So if we see positive feedbacks or news from the influential people about bitcoin or cryptocurrency in general, the market will definitely respond positively and vice versa. But we need to also understand that these type of hype marketing will have temporary effect on the market. If you can ride the tide, you will be benefitted and if you can't, you will loose. There's no permanent solution to this!
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tbct_mt2
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July 07, 2021, 10:01:46 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes?
Influential people or influencers have many followers that could be hundreds of thousands or millions so that any tweet from them will be viewed by many followers. Some of them will be affected by tweets from influencers. Some from millions would be not a small number that will be reflected on the market. If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy
New projects can give you free coins through airdrops, faucets, bounties, promotion but when they grow up, you always have to buy coins. No longer free coins for matured projects. The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
Mr. Market is always lively and does own actions and the market has never been over. People watch whale operations every day and they wait for reactions, news, tweets or big in- or out-exchange transasctions from whales.
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ultrloa
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July 07, 2021, 10:10:10 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
That means we cannot have a healthy and organic growth with bitcoin since they will just dictate on what figures they like and we already see that in the hands of Elon Musk, so maybe its better to have a systematic growth like country adoption nor big business accepting bitcoin since from this we can see stagnant growth since bitcoin will have good backup if certain individual want it to collapse. But I think this will far to happen as many still doesn't believe nor impressed on bitcoin due to some technicalities of it.
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Shenzou
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July 07, 2021, 10:22:43 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
The price change that you are talking about is only good for people who are investing in bitcoin for the short term, they are waiting for the right time to sell thier coins, and with influncers and big names saying that they will invest in bitcoin it is the perfect time to do so, because they can haveilay influnece the price, and the best exemple for that is Elon musk and his company, when they annonced that they are investing a billion dollar in bitcoin and they are accetping it as a payment method, the price skyrocketed to 60k and as soon as they said that it cause enviormental probelms and they are pulling out their investment the price went down, and also a simple joke from elon musk about dogecoin made it go up by nearly 3000%.
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tyz
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July 07, 2021, 10:28:37 AM |
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
No, it has always been the case that more influential people have tried to manipulate prices in their direction. Before Elon Musk got really interested in crypto and caused some pumps and dumps, McAfee, for example, was very strong in this kind of game (or rather manipulation). Even if they can move the prices it's not like all the traders just wait for a reaction from them and then go in the same direction. It may work like that for a while, but after a while the influence wears off.
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Tessnik
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July 07, 2021, 10:37:43 AM |
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Bitcoin price will rise when more Bitcoin is holed and not sold, so if influential people buy Bitcoin and hold it the market will increase and the demands increase because of any scarcity of Bitcoin will cause positive green light.
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iTradeChips
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July 07, 2021, 11:38:05 AM |
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If you are talking about people who are big influencers in the world of finance, then we can safely say that they could only be able to influence cryptocurrency for only a short while. Our experiences in the last few months of 2020 and the first half of 2021 taught us that despite the big gains of crypto currency, someone who has bested interest in cryptocurrency in the upper echelons of society might be able to upset the balance. But then again, as we saw this year, any influence would be temporary.
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noorman0
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2021, 01:30:33 PM |
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It is an attempt to save theyself from possible losses, by publishing about supporting or buying they will have a short-term positive effect which will at least make the point of support as strong as possible. Since market volatility is unpredictable, no one will know how safe they are in entering the market.
No matter how often they do this, influencer news will at least have an effect on price movements. In fact, there are always newcomers who believe in influencers, or old people who deliberately take advantage of their influence.
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This space for rent. Available in mid January 2024 - PM me
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maisao1991
Copper Member
Jr. Member
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Activity: 224
Merit: 2
TheStandard
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July 07, 2021, 01:39:38 PM |
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Influencers are often people who influence many people. Like young investors, they don't have the experience to act on their feelings with these influencers, especially as they often use their level of engagement to gain favors. By doing so, they manipulate the emotions of the fans known as trend following.
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─────── Decentralized Asset-Backed Banking ─────── ██ ███ ██████ TheStandard.io ██████ ███ ██
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BrewMaster
Legendary
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Activity: 2114
Merit: 1293
There is trouble abrewing
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July 07, 2021, 02:04:32 PM |
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it depends on the market. we already have the small altcoin market where whales who aren't even "influencial people" are going in and out of the altcoins in an ongoing operation we call altcoin pump and dumps. they make a lot of profit because it is trivial to manipulate altcoin market and in fact the market is made for pump and dumps and nothing else.
but in bitcoin world the market is bigger and it is a lot harder to manipulate it although not yet impossible. any manipulation attempt will have a short term effects and will be forgotten in about a week. for example we had the biggest one recently from Elon Musk who could only dump bitcoin about 15% before price started going back up again. (the drop you see we are in right now is the product of China banning bitcoin mining).
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There is a FOMO brewing...
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