Growth of Bitcoin?

[jashbir67]

El Salvador has legalised bitcoin and just for a thought I was evaluating that the country purchased btc in 30k range and after a few weeks purchased in 50k range and now it's dumping and again seems to touch 30/40 k range. Such a huge volatility means big players are manipulating bitcoin. So is that good for motivating other countries to make it legal tender as currency? The whales have deep roots in btc and it will always be a drawback for the organic growth of Bitcoin. And donot forget blockchain technology is known by bitcoin! Am I right?

[mk4]

Such a huge volatility means big players are manipulating bitcoin.

Or like.. you know.. some assets are simply volatile. It doesn't automatically mean that the so-called "wHaLeS" are deliberately manipulating the market. Bitcoin or any other asset's price can drop simply because the holders are selling. 🤷‍♂️

Price increase = adoption! 
Price drop = MANIPULATION!!1! 

[Oshosondy]

If a country wants to adopt bitcoin, they should get analysts that will also help, there will be a time to buy in a way it will help. The countries should always tell their citizens how using bitcoin is can be risky.

 El Salvador adopted bitcoin successfully.

Or like.. you know.. some assets are simply volatile. It doesn't automatically mean that the so-called "wHaLeS" are deliberately manipulating the market. Bitcoin or any other asset's price can drop simply because the holders are selling. ‍♂️

Price increase = adoption! 
Price drop = MANIPULATION!!1! 

Bitcoin is not a coin that can be said to be manipulated, its marketcap has increased to a level beyond to be called manipulation, Bitcoin is not those pump and dump altcoins or shitcoins that can easily be manipulated by whales. Even if manipulated successfully, ATH will still come.

Adoption is what we should look more into because price increase and drop in a way long term result is still increase. It is still adoption.

[mk4]

Bitcoin is not a coin that can be said to be manipulated, it's marketcap has increased to a level beyond to be called manipulate, Bitcoin is not those pump and dump altcoins or shitcoins that can easily be manipulated by whales.

Yes, the so called "whales"(basically just people with a crap ton of BTC) actually do exist, but they can only manipulate the market to a certain extent; but definitely not the case where most people think that they totally control the bitcoin market or something that ludicrous.

But yea, as the marketcrap increases, it's just going to get harder and harder.

[TimeTeller]

Bitcoin is not a coin that can be said to be manipulated, it's marketcap has increased to a level beyond to be called manipulate, Bitcoin is not those pump and dump altcoins or shitcoins that can easily be manipulated by whales.

Yes, the so called "whales"(basically just people with a crap ton of BTC) actually do exist, but they can only manipulate the market to a certain extent; but definitely not the case where most people think that they totally control the bitcoin market or something that ludicrous.

But yea, as the marketcrap increases, it's just going to get harder and harder.

Whales can't have total control in this market. They may make a dent at some point, but will not significantly alter the market.
I don't understand why some people are still thinking that this market can easily be manipulated by whales.
A lot of factors are contributing this up and down movement. As more stakeholders are joining this market, expect a roller coaster ride.
We can only see clear manipulation in most small cap alts. Where small buy can tremendously change the percent change in the market.

[maggiewu]

Now BTC 42K, already can properly buy, 38K can buy a lot, 70K will come once again, it is recommended to sell 65K. Because you can never get 30K

[aoluain]

We have to remember that Bitcoin is decentralised so I'm sure there are trades
happening which cannot happen in traditional markets. Whale manipulation
has always been present in the Bitcoin markets, its not a new thing so thats not
going to dissuade people or countries from getting into Bitcoin.

Whale manipulation is nothing to be worried about if you are a HODLer and
they can only manipulate to a certain degree.

[Slow death]

Such a huge volatility means big players are manipulating bitcoin.

no one is manipulating the market, it happens that like every market when people are already profitable they simply sell, this is normal. we cannot expect everyone to do hodl, there are hundreds of people who bought at 30,000$ and as soon as the price reached 60,000$ they started selling and are selling even now and will probably buy when the price is lower (if it is more low, something I don't believe happens)

So is that good for motivating other countries to make it legal tender as currency?

this volatility does not prevent countries from adopting bitcoin

[sheenshane]

But yea, as the marketcrap increases, it's just going to get harder and harder.

This is the reason Bitcoin becomes harder to manipulate when the market cap increases too much and keeps it going, it becomes harder and harder to manipulate and I tend to agree with your statement.  I believe Bitcoin can be still manipulated but in a different way like spreading FUD or other bad news in social media that turn people to become panic selling.

So is that good for motivating other countries to make it legal tender as currency?

Those countries that have been done adopting Bitcoin are already having dip research and I think they found out that there's a potential in investing in Bitcoin because not only 1-2 countries now have been doing this, there are few of them which means each of them saw a brighter future embracing Bitcoin.

[bitzizzix]

Such a huge volatility means big players are manipulating bitcoin.

no one is manipulating the market, it happens that like every market when people are already profitable they simply sell, this is normal. we cannot expect everyone to do hodl, there are hundreds of people who bought at 30,000$ and as soon as the price reached 60,000$ they started selling and are selling even now and will probably buy when the price is lower (if it is more low, something I don't believe happens)

So is that good for motivating other countries to make it legal tender as currency?

this volatility does not prevent countries from adopting bitcoin

I agree, and there's no denying that everyone treats bitcoin that way, buying when the price is low and selling when the price is up and it's profitable and that makes the price of bitcoin go down because of the sell-off after a new high.
and it's normal it will continue to happen every time ATH happens because a lot of people are profiting and everyone is a whale the difference is the big whale and the little whale, and it will probably happen again because now is the perfect time to make buy and hold until a new high is reached and sell.
and that is the occurrence of unavoidable volatility.

[tranthidung]

Price increase = adoption! 
Price drop = MANIPULATION!!1! 

Agree with you. Emotional reactions from people who don't have enough experience in Bitcoin market. They said it because they don't have experience and only look at short term movements.

Manipulations are everywhere, in every market as well as ups and downs. Market can not rise forever and if it is a good market, downs are vitamins for healthy growth. Fortunately, we have a healthy Bitcoin network and Bitcoin market.

[mk4]

Whales can't have total control in this market. They may make a dent at some point, but will not significantly alter the market.
I don't understand why some people are still thinking that this market can easily be manipulated by whales.
A lot of factors are contributing this up and down movement. As more stakeholders are joining this market, expect a roller coaster ride.
We can only see clear manipulation in most small cap alts. Where small buy can tremendously change the percent change in the market.

Pretty much people over-investing without even knowing how Bitcoin works or how markets work in general. When these types of people lose money, instead of blaming their own ignorance, they look for someone to blame. And in most cases — it's the "whales" that MaNiPuLaTe tHe MaRkEtS.

[Baofeng]

El Salvador has legalised bitcoin and just for a thought I was evaluating that the country purchased btc in 30k range and after a few weeks purchased in 50k range and now it's dumping and again seems to touch 30/40 k range. Such a huge volatility means big players are manipulating bitcoin. So is that good for motivating other countries to make it legal tender as currency? The whales have deep roots in btc and it will always be a drawback for the organic growth of Bitcoin. And donot forget blockchain technology is known by bitcoin! Am I right?

Why we always equate about the price going down to manipulation? Maybe it's obvious that it's not only whales are selling, even average joe and retail investors are. And regarding El Salvador's purchases, I think the President took the risk to invest and legalised bitcoin so we can't blame him for that though. Bitcoin has been and always volatile regardless if there is manipulation or not.

[dothebeats]

Bitcoin price going down isn't always the effect of manipulation. The money that comes in to the bitcoin market should flow towards something else one way or another, and investors are free to do that. This doesn't mean manipulation at all, it's just taking profits. The market is already too big for manipulators to exist, or if they do they can only affect a portion of the market, but still not enough to induce bear markets of high severity and long durations.

[pooya87]

So is that good for motivating other countries to make it legal tender as currency?

Unlike you, the countries don't care about short term volatility. They look at the bigger picture where price was $4k last year and it is $40k this year.

The whales have deep roots in btc and it will always be a drawback for the organic growth of Bitcoin.

Bitcoin price cannot be manipulated in the way you think it is. The effects are small and most of the times short lived. Also more importantly as the market grows the manipulation becomes increasingly harder. For example we don't have the same market manipulation in 2020+ that we had in 2010 to 2014. It has decreased in effectiveness by a lot.

[ziaul1999]

PANIC always Harm Bitcoin, Crypto Always potential Strong Work Global World. Bitcoin Future Always Best , Don't Sell Bitcoin panic moment

[GeorgeJohn]

PANIC always Harm Bitcoin, Crypto Always potential Strong Work Global World. Bitcoin Future Always Best , Don't Sell Bitcoin panic moment

It's only Bitcoin holders that have confidence to retain or bank cryptocurrency especially bitcoin for long time, even to the time Bitcoin is downgrading, people that is not acclimatized with bitcoin regulations will panic to evacuate or sell out what they have at hand to generate profit and avoid lost of their investment, but a qualified investor doesn't consider the down fall of bitcoin, they always think big  and positive to predict the future of cryptocurrency, for more profit for an interval of a year or two years gap or difference.

[xSkylarx]

Now BTC 42K, already can properly buy, 38K can buy a lot, 70K will come once again, it is recommended to sell 65K. Because you can never get 30K

this is speculation only but this is the high chance that the price of Bitcoin will get . Tho 30k has a chance in red days which a lot will buy but for now when seeings l the price i think it will stabilize sometime. btc price has grown a lot now and it is really amazing since the price skyrocket

[Fundamentals Of]

Price volatility is really an issue with Bitcoin. It is not to be denied that it is going to be economically and financially challenging for any country to adopt Bitcoin as its legal tender. But the adoption of Bitcoin in El Salvador is not really a huge issue when it comes to Bitcoin's lack of price stability because the USD is still there as another, or even the main, legal tender. Even if declared as a legal tender, Bitcoin is still an option to the people. If they prefer to use the USD for its stability, then they are free to do so. But don't forget that price volatility doesn't take away the reasons why Bitcoin is an excellent currency.

[boyptc]

El Salvador has legalised bitcoin and just for a thought I was evaluating that the country purchased btc in 30k range and after a few weeks purchased in 50k range and now it's dumping and again seems to touch 30/40 k range. Such a huge volatility means big players are manipulating bitcoin.

Yeah, there's always the manipulation in our minds when the price is moving according to its volatility and not with the favor that we like.

So is that good for motivating other countries to make it legal tender as currency? The whales have deep roots in btc and it will always be a drawback for the organic growth of Bitcoin. And donot forget blockchain technology is known by bitcoin! Am I right?

Well, there's no need for any motivation for the other countries that will make it as a legal tender. If they think that it's a good one to make then they should make their own move and have their own reason why they should make bitcoin as a legal tender.